Jacob Rothschild, key member of family banking empire, dies at 87

He used his fortune to finance causes close to his heart, including Jewish causes, education, and the arts.

London:

British financier Jacob Rothschild, a key member of the Rothschild banking empire and philanthropist, has died at the age of 87, his family announced on Monday.

“Our father Jacob was a great presence in the lives of many people, a highly accomplished financier, a champion of the arts and culture,” a family statement said.

It says he was also “a dedicated public servant, a passionate supporter of charitable causes in Israel and Jewish culture, a keen environmentalist and a much-loved friend, father and grandfather”. The statement did not say when he died.

Rothschild was born in Berkshire, west of London, in 1936, the eldest son of Victor Rothschild, a British scientist, intelligence officer and oil executive who advised both Conservative and Labor governments.

Jacob Rothschild, a member of the Lords, the upper house of the UK Parliament between 1991 and 1999, began his career at the family bank, NM Rothschild & Sons.

He J. Co-founded Rothschild Assurance Group, now St. James’s Place, which became one of Europe’s largest funds and wealth managers, controlling more than 155 billion pounds ($195 billion) of assets.

He used his fortune to finance causes close to his heart, including Jewish causes, education, and the arts.

He was Chairman of the Trustees at The National Gallery, his love of art extending to sitting for portraits of the painters Lucian Freud and David Hockney.

He was married to his wife Serena, who died in 2019, and had four children – Hannah, Beth, Emily and Nat.

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