Rothschild & Co.
By the late twentieth century, N M Rothschild & Sons had developed into a pre-eminent global organisation, which enhanced its ability to secure key advisory roles in some of the most important, complex and recognizable mergers and acquisitions. Following nationalisation of the French Rothschild business in 1982, David de Rothschild (b.1942), Nathaniel de Rothschild (b.1946) and Eric de Rothschild (b.1940) had established a new banking and finance operation, and David had joined the board of the London bank of N M Rothschild & Sons Limited as Deputy Chairman.
The English and French businesses unite
In 2003, after 44 years with the family firm, Sir Evelyn de Rothschild stepped down as Chairman of N M Rothschild & Sons Limited. The appointment of David de Rothschild as his successor as the Rothschild Group Chairman brought together again the English and French Rothschild business houses, with the merger of N M Rothschild & Sons Limited with Paris Orléans (originally founded in 1838 as a railway company, after the Second World War, the French branch of the Rothschild family transformed it into a holding company for its banking activities).
In the mid-2000s the London bank began to refocus its business and strategies. In 2004, the daily ritual to fix the world price of gold (which had taken place at New Court since 1919) came to an end when Rothschild left the gold market. In 2005, the firm decided once again, to demolish and rebuild New Court, and build a 15 storey glass and steel building on the same site. This fourth incarnation of New Court was designed by Rem Koolhaas and his Office of Metropolitan Architecture (OMA) and provides 20,992 square metres of office space in a building 75 metres high. The new building opens up views of St Stephen Walbrook church from St Swithin's Lane, and views of the London skyline from a roof-top 'sky pavilion'. Construction took place over a 30-month period from March 2008 to August 2010.
Rothschild & Co.
In 2011, the firm rebranded from N M Rothschild & Sons Limited to Rothschild & Co. In 2015, the parent company of the Rothschild Group, formerly known as Paris Orléans, changed its name to Rothschild & Co. to match the trading name of the business. In 2017, Rothschild & Co acquired the family-controlled French private bank, Compagnie Financière Martin Maurel. This merger united the businesses of two European financial families. After the acquisition, Rothschild & Co became the leading private bank in France.
In 2018, Alexandre de Rothschild (b.1980) succeeded David de Rothschild as Executive Chairman. The same year, Rothschild & Co sold its trust services division (responsible for the creation and administration of trust structures) to Richard Martin, a long-time Rothschild executive. This restructuring of Rothschild's Wealth Management practice allowed the firm to focus more on its private banking activities from the recent purchase and integration of Rothschild Martin Maurel. In Europe, Rothschild & Co. forms a confederation of separate banks with Rothschild & Cie Banque in France and Rothschild Bank AG in Switzerland.
Today Rothschild & Co. is one of the world’s largest independent financial advisory groups, employing around 3,000 people in over 40 countries around the world, providing strategic, M&A, wealth management and fundraising advice and services to governments, companies and individuals worldwide.