Bloomberg reports that instead, he took jobs at other financial firms before joining the family business four years ago, becoming the seventh generation of a banking dynasty that can be traced to the 18th century.
Today, as the firm undergoes a generational shift to younger bankers, he’s being groomed to run Rothschild and succeed his 69-year-old father, David, within five years, according to three people with direct knowledge of the plan.
'Whether it’s chairman, CEO, one, the other, both - it could take various forms and there’s no timing pressure', said Alexandre in his first interview. His father, David de Rothschild, isn’t worried about his readiness. 'What I observe of Alexandre’s attitude and behavior and what colleagues tell me is very comforting,” he said. “But again, he’s not under pressure to be more visible or add titles. Things are progressing as they should'.
The comments by David and Alexandre are the most explicit yet to spell out succession plans at Rothschild, a storied name in finance that reported revenue of $1.42bn last year and ranks 10th among banks worldwide in advising on deals, according to data compiled by Bloomberg. It advised Nestle, the world’s biggest foodmaker, on its $11.9bn takeover of Pfizer’s infant nutrition unit this year.
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Rothschild Anoints Alexandre Heir as Family Cements Reign
image: © marianne bevis
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