"RIT Capital Partners, which is chaired by Lord Rothschild, has taken a 37pc stake in Rockefeller Financial Services, the family’s wealth advisory and asset management wing. It has snapped up the holding from French bank Société Générale for less than £100m.
The transatlantic alliance cements a five-decade acquaintance between the now ennobled Jacob Rothschild, 76, and David Rockefeller, 96, the grandson of the ruthlessly acquisitive American oilman and philanthropist John D Rockefeller.
The two patricians now plan to capitalise on their family names to buy other asset managers or their portfolios, using their networks of top-notch contacts to ensure they get a seat at the table for any deal.
“We’ve known each other for a long time, they have a good business,” said Lord Rothschild yesterday. “We haven’t got a presence in the US and this brings together two formidable names in finance.”
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