The firm is looking to promote the seventh generation of the banking dynasty to run the group.

Paris-based Rothschild & Co has declined to comment on reports that it is preparing to promote the seventh generation of the banking dynasty to run the group.

According to Bloomberg, Alexandre de Rothschild will take on the top executive role from his 75-year-old father, David de Rothschild, this year in a long-planned succession.

The exact timing and conditions of the succession are not finalised, the reports said.

Alexandre joined the family company a decade ago to focus on the merchant-banking division after working at other financial firms. He is executive deputy chairman.

Rothschild, in 2012, combined its French and UK units under Paris Orleans SA, a French listed company that was renamed Rothschild & Co in 2015. The firm provides global financial advisory services, as well as wealth management and asset management services.

In November, this publication reported that the firm had logged a six per cent year-on-year rise in revenue, at €852 million ($1.012 billion) for the six months to the end of September this year.