Rothschild banking family of France

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Nathaniel Robert de Rothschild
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Arms of the Rothschild family

The Rothschild banking family of France (French: Famille banquière Rothschild) is the French branch of the Rothschild family. It was founded in 1812 by James Mayer de Rothschild (1792–1868) in Paris, which was then part of the First French Empire. He was sent there from his home in Frankfurt by his father, Mayer Amschel Rothschild (1744–1812). Wanting his sons to succeed on their own and to expand the family business across Europe, Mayer Amschel Rothschild had his eldest son remain in Frankfurt, while his four other sons were sent to different European cities to establish a financial institution to invest in business and provide banking services. Endogamy within the family was an essential part of the Rothschild strategy in order to ensure control of their wealth remained in family hands.

Involvement in finance and industry

James Mayer de Rothschild (painting by Hippolyte Flandrin)

Through their collaborative efforts, the Rothschilds rose to prominence in a variety of banking endeavors including loans, government bonds and trading in bullion. Their financing afforded investment opportunities and during the 19th century, they became major stakeholders in large-scale mining and rail transport ventures that were fundamental to the rapidly expanding industrial economies of Europe, as well as wine growing and the oil industry.

The

Nazi occupation of France during World War II
. By tradition, the Central Consistoire has had a member of the Rothschild family as its president.

Jacob Mayer Rothschild, the youngest son, settled in Paris in 1812 where his name Jacob was translated to James. In 1817, he formally created the bank, de Rothschild Frères whose partners were brothers

Naples, Nathan of England and Salomon of Austria. Highly successful as lenders and investors, the Paris operation also became bankers for Leopold I of Belgium. In 1822 the influential James and his four brothers were awarded the hereditary title of "Baron" by Emperor Francis I of Austria
.

Following the

Legion of Honor
.

There is a theory that before Louis-Phillipe came to power the Rothschilds were fronting for the House of Orleans. A major portion of the business has consisted of selling French government bonds to French investors through London to protect their anonymity. There was a general perception on the part of the French that otherwise their government might unilaterally reset terms. No French fortune was more likely to face the problem than the younger branch of the royal family. The theory follows that when the Orleanists came to power they became less provident but by then the Rothschilds had numerous other clients.

The de Rothschild Frères banking business was passed down to ensuing generations. James Mayer de Rothschild had stipulated "that the three branches of the family descended from him always be represented." For the next two generations that was the case but in 1939,

Edouard Alphonse de Rothschild and cousin Robert-Philippe-Gustave de Rothschild, incompatible with their other cousin Maurice de Rothschild, bought out his share. Maurice went on to be enormously successful and, having inherited a fortune from the childless Adolph Carl von Rothschild of the Naples branch of the family, he moved to Geneva, Switzerland
and perpetuated the new Swiss branch of the family.

The French Rothschild family's business suffered a near death blow in 1981 when the Socialist government of

Sir Evelyn de Rothschild
as head of N M Rothschild & Sons of London, the English and French firms merged into the Group Rothschild under the leadership of David René de Rothschild. In 2006, the French banking division expanded into Brussels, Belgium.

Struggles for the French Rothschilds

In the 1930s, the vast railroad holdings of French Rothschilds were

Nazi occupiers.[2][3] Despite having the bank restored to them at the end of the war, the family bank Rothschild Freres would be nationalized in 1981 by the socialist government of then newly elected French President François Mitterrand.[4]

The French Rothschilds today

Both the British and the French branches emerged from the Second World War with new generations of the family at the helm. Historic partnership ties between the two branches were revitalized, leading to a complete merger in 2003 into Rothschild & Co.

The Rothschilds created their first hedge funds in 1969, and strengthened its position as a world leader in investment banking. Additionally, the firm is a global private bank with over 4,000 private clients in 90 countries.[5] Rothschild & Co provides a comprehensive range of services to individuals, governments, and corporations worldwide.[6]

The Rothschilds also have a strong presence[7] in the South American country of Uruguay (Family Helguera von Rothschild-Haverkate[8]) as they are sole owners of over 70% of the private land in the country. This family has acquired and developed many business ventures,[9] philanthropic ventures, commercial and residential properties along the 20th and 21st century. Sir Louis Ralph Helguera von Rothschild-Haverkate[10] was a Swiss-French national of the French Rothschild family who immigrated to Uruguay in the mid 1960's. His influence in architecture and arts can be appreciated all over Uruguay.


Involvement in wine growing

The second French branch was founded by

département. Nathaniel Rothschild renamed the estate Château Mouton Rothschild
: it would become one of the best-known wine labels in the world.

In 1868, Nathaniel's uncle/father-in-law, James Mayer de Rothschild, acquired the prestigious neighboring vineyard, Château Lafite.

Philanthropy

The French Rothschilds and members of the other branches in Europe were all major contributors to causes in aid of the Jewish people. However, many of their philanthropic efforts extended far beyond Jewish ethnic or religious communities. They built hospitals and shelters, supported cultural institutions and were patrons of individual artists. At present, a research project is underway by The Rothschild Archive[11] in London to document the family's philanthropic involvements.

Family members

Rothschild family mausoleum at the Père Lachaise Cemetery in Paris

Notable Rothschild family members in France include:

Rothschild properties

The Great Hall at the Château de Ferrières, estate of James Mayer de Rothschild

All branches of the Rothschild banking family are famous for their art collections and a number for their palatial estates. Among the Rothschild properties in France were:

See also

References

  1. ^ Baron Guy de Rothschild, Leader of French Arm of Bank Dynasty, Dies at 98 The New York Times, Thu 14 Jun 2007
  2. ^ Rothschild. "Guide to the business records of de Rothschild Frères, Paris". Archived from the original on 2012-03-31. Retrieved 2014-05-21.
  3. ^ "Baron Guy de Rothschild". Jewish Virtual Library. Retrieved 2014-05-21.
  4. ^ "Baron Guy de Rothschild, Leader of French Arm of Bank Dynasty, Dies at 98". New York Times. June 14, 2007.
  5. ^ "Rothschild | Wealth Management & Trust | 1945-present". Privatebankingandtrust.rothschild.com. Archived from the original on 2014-05-21. Retrieved 2014-05-21.
  6. ^ "Rothschild | Wealth Management & Trust | Rothschild Group". Privatebankingandtrust.rothschild.com. Archived from the original on 2014-05-21. Retrieved 2014-05-21.
  7. ^ "Banque Privée Edmond de Rothschild confirma oficialmente que no se va de Uruguay". infonegocios.biz. Retrieved 2024-01-04.
  8. ^ "Biografías: LOS ROTHSCHILD HISTORIA DE UNA DINASTIA". www.puroverso.uy. Retrieved 2024-01-04.
  9. ^ Tiscornia, Fabián. "SURA Investments Uruguay suma fondos de Edmond De Rothschild a estrategia". RankiaPro. Retrieved 2024-01-04.
  10. ^ "Sir Louis Ralph Helguera von Rothschild-Haverkate" (PDF).
  11. ^ Rothschild. "Research Project: project description". Archived from the original on 2013-08-23. Retrieved 2014-05-21.
  12. ^ "Corporate Seminar Chantilly: CapGemini campus mixes the historic architecture with learning & reflection". Les Fontaines. Archived from the original on 2014-05-21. Retrieved 2014-05-21.
  13. ^ "The George C. Marshall Center | Embassy of the United States Paris, France". France.usembassy.gov. 1944-08-25. Archived from the original on 2014-05-21. Retrieved 2014-05-21.

Further reading

External links