By Jack Mendel
Lord Jacob Rothschild, a major figure within the banking dynasty under his family name, has died aged 87, it was announced today.
The family called him a “towering presence”, and said the banking grandee and peer in the House of Lords would be buried, before a remembrance service.
Rothschild, a banker and financier, was also well known for his support for philanthropic and environmental causes, as well as Jewish charities.
He started his banking career in the family business, NM Rothschild & Sons, in 1963. He then went on to co-found J Rothschild Assurance Group, now St James’s Place, in 1980.
He also founded Windmill Hill Asset Management to manage the family’s philanthropic portfolio.
During his career, he also held roles such as deputy chairman at the then BSkyB Television and was also chairman of trustees at The National Gallery.
In a statement to the Press Association news agency, the family said: “Our father Jacob was a towering presence in many peoples’ 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 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.”
Former Tory chancellor George Osborne led tributes from the world of politics and business, taking to social media site X.
Osborne wrote: “Sad to hear the news about Jacob Rothschild – he made the very most of the privilege he was born into, contributing hugely to the cultural and commercial life of Britain.
“His contributions to the Waddesdon gallery make it one the jewels of the British Museum. Smart, curious, full of new projects and with a dry humour – he will be missed.”
In a tribute to the late peer, Waddesdon Manor, the Rothschild family’s house in Waddesdon, near Aylesbury 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.”
Last year, Sir Evelyn de Rothschild died aged 91.
More to follow
With contribution from PA
