Jacob Rothschild, a British investment banker and prominent member of the global banking dynasty, has died at the age of 87.
The Rothschild Foundation confirmed his death on Monday in a statement to the British Press Association. They did not disclose the cause of death.
“Our father Jacob was a towering presence in many peoples’ lives—a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, a passionate supporter of charitable causes in Israel and Jewish culture, a keen environmentalist and much-loved friend, father and grandfather,” the Foundation said in the statement.
“He supported many causes, some close to his home in Buckinghamshire, others as far afield as Israel, Albania, Greece and the United States,” the statement continued, highlighting the late banker’s patronage of “communities, the environment, education and above all, the arts.”
The Foundation, a charitable trust that manages the family’s Buckinghamshire manor, said Mr. Rothschild’s 61-year-old daughter Hannah Rothschild would succeed him as its chair.
Among high-profile figures who send their condolences was Israeli President Isaac Herzog. In a post on X, Mr. Herzog praised the Jewish banking giant’s contributions to the Israeli project, including “the impressive Supreme Court building, and the beautiful new building of the National Library, which unfortunately he did not get to see.”
“Lord Rothschild’s contribution to Britain, Israel, and the world was of great importance and influence. Despite the great sadness that accompanies parting with him, especially in these difficult days, his generosity and wisdom will be remembered with love and appreciation,” he wrote.
“He was of course a towering figure in Britain’s Jewish community but his impact was global in his support for great causes, including in the arts and the environment, and in his tireless work to advance peace in the Middle East.”
Born in England in 1936, Mr. Rothschild started his career in finance in 1963 at the family bank, N.M. Rothschild & Sons. In 1980, he resigned from the family firm to focus on his own offshoot business, Rothschild Investment Trust, now known as RIT Capital Partners.
In addition to RIT, Jacob also co-founded companies in money management, insurance and investment, including Global Asset Management, now known as GAM Investments; and J. Rothschild Assurance, now called St James’s Place plc.
The Rothschild banking dynasty dates back to Mayer Amschel Rothschild, a rare-coin dealer born in 18th Century Frankfurt who advised German aristocrats on their finances. He sent his five sons to venture across the major cities of Europe to build out banking businesses with financially struggling governments.
The British branch of the Rothschild bank, founded by Nathan Mayer Rothschild, made a fortune by funding European governments involved in the Napoleonic Wars. According to common belief, Nathan Rothschild was the first banker to hear the news from the 1815 battlefield of Waterloo, where Napoleon’s French Army suffered a crushing defeat, and used that advance knowledge to his advantage at London’s financial market.
