The business, which is the French branch of the venerable banking dynasty, has announced a change at the top.

Paris-based Rothschild & Co has announced that David de Rothschild will become honorary chairman of its supervisory board with effect from 1 January 2023. 

He will continue to be a member of the supervisory board. Marc-Olivier Laurent, previously a vice chairman of the the firm's supervisory board, will succeed him as chairman of the supervisory board of Rothschild & Co. 

Laurent was previously managing partner of Rothschild & Co Gestion, a member of the Rothschild & Co group executive committee and executive chairman of merchant banking – a business he co-founded with Alexandre de Rothschild in 2009 and headed until 2019. He joined Rothschild & Co in 1993 as a managing director and was appointed partner in 1995. 

In March the firm, one of several branches of the Rothschild dynasty, reported net income, excluding one-off items, of €766 million ($857.9 million) for 2021, surging from €173 million a year before, helped by a jump in operating income and revenue.