Rothschild & Co. is ensuring that the business will stay in the family for a seventh generation as the current chairman prepares to hand his seat down to his son.
The Rothschild banking empire will ensure that its control continues to stay within the family for a seventh generation as David de Rothschild, 75, is set to hand the role of chairman over to his son, Alexandre de Rothschild, 37, in June.
The banking dynasty has been passed between generations for the last 200 years. It was started by Mayer Amschel Rothschild as a French railway company, and five of his sons went on to establish banking businesses across Europe. Financial Times reported that the investment bank is currently pushing to “diversify from its core French and British advisory business to help it ride out less buoyant periods in Europe’s mergers and acquisitions market.”
The new chairman joined the bank in 2008, and he has helped to set up and oversee the private equity business. As the group increases its investments in small U.S. operations, the Times noted that the overhaul of the corporate structure that occurred during the elder de Rothschild’s term allowed the family to “tighten control over the group by buying out minority shareholders.”
The Rothschild family has also shown its influence in “U.S. operations” by working closely with political figures such as failed presidential candidate, Hillary Clinton. WikiLeaks revealed that Lynn Forester de Rothschild was working with the Clinton campaign to formulate economic policy as early as January 2015.
“I think this blog overstates what Warren was doing, but we need to craft the economic message for Hillary so that Warren’s common inaccurate conclusions are addressed. Xoxo Lynn,” Lady Rothschild wrote in an email to top Clinton aide, Cheryl Mills.
Emmanuel Macron, the current French president, is also a former employee of Rothschild. He earned the nickname of “Mozart of Finance” at the company after he played a crucial role in advising Nestlé to invest $12 billion in the acquisition of a Pfizer unit in 2012.
The Rothschild family currently has 58 percent of voting rights and owns 49 percent of the company, and the Times noted that while revenue from its global advisory business fell 8 percent, private wealth and asset management and merchant banking divisions grew by more than 30 percent each and overall revenue rose by 6 percent in 2017.
As The Free Thought Project reported in August 2017, Lord Jacob Rothschild, founder and chairman of RIT Capital Partners, sent ominous signals internationally when he began selling U.S. assets because he viewed them as risky and unstable.
“We do not believe this is an appropriate time to add to risk. Share prices have in many cases risen to unprecedented levels at a time when economic growth is by no means assured,” Rothschild wrote in his company’s semi-annual report.
Rothschild also said he believes “The period of monetary accommodation may well be coming to an end,” and that quantitative easing programs employed by central banks, such as the Federal Reserve Bank in the U.S. will eventually “come to an end.”
The Rothschilds consider themselves to be the “custodians of the Economist magazine’s legacy.” The magazine published an article in 1988 that claimed a centralized “world currency” could be expected by the year 2018—a methodical movement that has played out in many ways over the years.
The Financial Times reported that while Rothschild was affected by a financial crisis in 2016, its share increased by more than 15 percent in 2017. It remains to be seen how Alexandre de Rothschild’s leadership will impact the banking empire.
As the Free Thought Project previously reported, the Rothschild family has been moving its chess pieces around the world for centuries.
The head of the Rothschild banking empire, and staunch supporter of Israel, Lord Jacob Rothschild, recently revealed the critical role of his family in the securing the Balfour Declaration, which “helped pave the way for the creation of Israel.”
The Balfour Declaration, written in 1917, was an official document from the British Foreign Minister, Lord Balfour, addressed to Lord Rothschild, a leader of the Zionist movement in Britain at the time – and Lord Jacob Rothschild’s uncle.
During the television interview with Rothschild, he revealed new details about the extremely pivotal role his cousin Dorothea de Rothschild played. Rothschild described Dorothea, who was in her teens at the time, as “devoted to Israel,” and said: ‘What she did was crucially important.’”
Rothschild went on to say that Dorothy acted as a conduit between Zionist leader Chaim Weizmann and the British political establishment. Dorothy “told Weizmann how to integrate, how to insert himself into British establishment life, which he learned very quickly,” according to Rothschild.
Rothschild explained that the manner in which the declaration was procured was extraordinary.
“It was the most incredible piece of opportunism,” he reasoned.
“[Weizmann] gets to Balfour,” Rothschild described, “and unbelievably, he persuades Lord Balfour, and Lloyd George, the prime minister, and most of the ministers, that this idea of a national home for Jews should be allowed to take place. I mean it’s so, so unlikely.”
This extremely revealing interview with Lord Rothschild was conducted by former Israeli ambassador Daniel Taub as part of the Balfour 100 project, commemorating the 100-year anniversary of the Balfour Declaration. The interviewed took place at Waddesdon Manor in Buckinghamshire, a manor bequeathed to the nation by the Rothschild family in 1957, where the Declaration is stored.
According to Ambassador Taub, the Balfour Declaration “changed the course of history for the Middle East.”
Rothschild said his family at the time was divided on the idea of Israel, noting that some members “didn’t think it was a good thing that this national home be established there.”
Dorothea’s letters are also stored at Waddesdon, and describe her subsequent dealings with a variety of Zionist leaders, as well as her advice on the organization of the Zionist Conference, according to the Times.
Rothschild said that the Declaration went through five separate drafts before finally being formally issued on November 2, 1917.
In her book, Against Our Better Judgment: The Hidden History of How the U.S. Was Used to Create Israel, Alison Weir exposed the fact that numerous drafts of the declaration were presented to Zionists in the United States prior to the document being finalized.
Weir’s book notes that one of the primary inducements offered to British leaders to issue the Balfour Declaration was the Zionist claim that they would bring the U.S. into world war I on Britain’s side if the British would promise to enable the Zionist colonization of Palestine.
Balfour Declaration Text:
November 2nd, 1917
Dear Lord Rothschild,
I have much pleasure in conveying to you. on behalf of His Majesty’s Government, the following declaration of sympathy with Jewish Zionist aspirations which has been submitted to, and approved by, the Cabinet.
His Majesty’s Government view with favour the establishment in Palestine of a national home for the Jewish people, and will use their best endeavors to facilitate the achievement of this object, it being clearly understood that nothing shall be done which may prejudice the civil and religious rights of existing non-Jewish communities in Palestine or the rights and political status enjoyed by Jews in any other country.
I should be grateful if you would bring this declaration to the knowledge of the Zionist Federation.
Arthur James Balfour
The deeply intertwined relationship between modern Zionism and the Rothschild banking empire cannot be overstated. Without the Rothschild family’s vast influence and direct assistance, Israel very well may have never been created.
H/t reader Squodgy:
“This is wonderful news for us all.”
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