Not for the first time, the Rothschilds and the Rockefellers are to team up, with investment trust RIT Capital Partners, chaired by Lord Rothschild, taking a major stake in Rockefeller Financial Services.
RIT is to acquire the 37% stake in Rockefeller previously held by Socit Gnrale Private Banking, opening the way for the two firms to collaborate on investment solutions and other areas of shared expertise.
"Lord Rothschild and I have known each other for five decades. The connection between our two families remains very strong," said David Rockefeller, Honorary Director and retired Chairman of Rockefeller & Co, a subsidiary of Rockefeller Financial Services.
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Rockefeller & Co. dates back to 1882, when John D. Rockefeller established one of the world's first family offices to manage his financial legacy. Today Rockefeller & Co. provides asset management and comprehensive wealth advisory services to a diversified client base of families, trusts, foundations and endowments and other institutions, representing $34 billion in assets under administration.
Financial details of the share stake acquisition were not divulged.
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