Legal

Rothschild Dynasties Resolve Legal Tussle

Tom Burroughes, Group Editor, 2 July 2018

articleimage

Arguably the most famous banking name in history, different branches of the Rothschild banking clans have resolved a legal fight over how that identity is used.

A long-standing row between different branches of the Rothschild banking dynasties of Europe has been resolved, with Paris-based Rothschild & Co and Europe’s Edmond de Rothschild agreeing on how to use their distinctive brands.

In 2015, when Rothschild & Co changed its name from Paris Orleans, it kicked off controversy with other European parts of the Rothschild family dynasty.

“In keeping with the family values, `Concordia, Industria and Integritas’, Rothschild & Co and Edmond de Rothschild have reached an agreement on the use of their respective brands in order to continue growing their businesses and their customers,” the groups said.

The Edmond de Rothschild Group will continue to develop its business under the Edmond de Rothschild brand. The Rothschild & Co Group will use the name Rothschild & Co. Rothschild Martin Maurel will be used to identify the private banking and asset management activities of Rothschild & Co in France, Belgium and Monaco. Neither group may use the name Rothschild by itself in any form whatsoever in the future, they said.

 Litigation, which had taken place before the Tribunal de Grande Instance in Paris, was ended, they added.

The clash highlights the complexity of the family and business structures bearing the Rothschild name. The Edmond de Rothschild Group, which is run by Benjamin de Rothschild and Ariane de Rothschild, had argued that each branch of these family operations must retain a distinctive name – and avoid confusion. The family business known as Paris-Orleans, however, chose the new name which is an English version of the Rothschild & Cie identity used in France. The two entities are also distinct from the NM Rothschild family business arm that operates in the UK.

In April this year, Rothschild & Co rejigged its boardroom leadership, with a father-to-son succession at the dynastic banking group. It elected Alexandre de Rothschild, 37, as executive chairman of Rothschild & Co Gestion, Rothschild & Co’s managing partner. He took the reins from David de Rothschild, who moves to become chairman of the supervisory board, taking over from another family member, Eric de Rothschild.

Register for WealthBriefing today

Gain access to regular and exclusive research on the global wealth management sector along with the opportunity to attend industry events such as exclusive invites to Breakfast Briefings and Summits in the major wealth management centres and industry leading awards programmes