Rothschild, the international financial advisory firm, has named Peter Wheeler as executive vice chairman of the group and co-head of its South East Asia business, a role in which he will be based in Singapore working alongside Piers Willis.

Wheeler was latterly group head of wholesale banking for Africa, the Middle East, Europe and the Americas at Standard Chartered Bank. However, he spent the majority of his career at Goldman Sachs, where he rose to partner level over a 16-year period, and where he established and headed the firm’s investment banking business in Asia ex-Japan.

In addition to jointly overseeing Rothschild’s financial advisory business in South East Asia, in his new post Wheeler will also manage the firm’s wealth management and trust business in the region. Rothschild said in a statement that it is hoping to leverage Wheeler’s experience in Asia to better serve clients in the region and help drive its growth strategy.

Willis has also been appointed as an executive chairman of Rothschild. The group comprises four divisions: global financial advisory, wealth management and trust, merchant banking and institutional asset management, and currently has 3,000 employees based in 42 countries.

In another interesting recent development at the firm, at the end of last month it emerged that two of the most famous business and financial dynasties in the US and Europe will join forces after Lord Jacob Rothschild’s listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership.

RIT Capital Partners (of which Lord Rothschild is chair) is to buy the 37 per cent equity stake previously held by Société Générale Private Banking in Rockefeller Financial Services for an undisclosed sum. Other Rockefeller Financial stakeholders include “the Rockefeller family, related entities and the management team,” RIT said in a statement.

The new arrangement unites patriarchs David Rockefeller, 96, and Lord Rothschild, 76. Rockefeller said: "Lord Rothschild and I have known each other for five decades. The connection between our two families remains very strong.  I am delighted to welcome Jacob and RIT as shareholders and partners in the ongoing development of our investment management and wealth advisory businesses."

The partnership with RIT will reportedly focus on setting up investment funds, eyeing joint acquisitions of wealth and asset managers, and granting each other non-executive directorships. RIT Capital Partners is minority-owned by Lord Rothschild and its net assets of £1.9 billion are spread across global investments from public equities to government bonds and private equity.

There are other developments afoot affecting the Rothschild dynasty. For example, Baron David de Rothschild, chairman of Rothschild Group, is currently bringing the UK-based investment bank under a joint roof with the French family operations. The reorganisation will reunite the shareholdings of the French and English sides of the family into a single company, listed in Paris.

The deal between Rockefeller and RIT is expected to close in September and is subject to regulatory approval.