Financier and banking dynasty member Lord Jacob Rothschild dies aged 87

26 February 2024, 14:42 | Updated: 26 February 2024, 14:44

Lord Jacob Rothschild
Lord Jacob Rothschild. Picture: PA

By Emma Soteriou

Financier and banking dynasty member Lord Jacob Rothschild has died aged 87.

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The British peer started his career in the family bank, NM Rothschild & Sons, in 1963.

He then went on to co-found the J Rothschild Assurance Group - now St James's Place - with Sir Mark Weinberg in 1980.

He also founded Windmill Hill Asset Management to manage the family's philanthropic portfolio.

His family said in a statement: "Our father Jacob was a towering presence in many people's lives, a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, a passionate supporter of charitable causes in Israel and Jewish culture, a keen environmentalist and much-loved friend, father and grandfather.

"He will be buried in accordance with Jewish custom in a small family ceremony and there will be a memorial at a later date to celebrate his life."

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Lord Jacob Rothschild
Lord Jacob Rothschild. Picture: Alamy

Rothschild was also known for being a patron of the arts, having been a trustee of Britain’s National Gallery between 1985 and 1991.

Former culture minister Ed Vaizey paid tribute to Rothschild on Twitter, saying: "Jacob Rothschild was one of Britain’s greatest cultural philanthropist who did so much to support the arts in this country.

"He will be sorely missed by those who benefited from his wisdom, experience and insight."

Waddesdon Manor, an English country estate managed by the Rothschild Foundation, said: "The Rothschild Foundation and Waddesdon Manor are deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader.

"He will be greatly missed by his family, his colleagues and his many friends."