Two of the world’s best-known banking families are combining forces after RIT Capital Partners, the investment trust led by Jacob Rothschild, said on Wednesday that it was buying a minority stake in the investment and wealth management firm Rockefeller Financial Services.
Under the terms of the deal, RIT Capital will buy a 37 percent stake in Rockefeller Financial Services, a firm founded in 1882 that now handles about $34 billion in client assets.
The price was not disclosed. RIT Capital said it would acquire the stake in the firm from Société Générale Private Banking of France.
RIT Capital and Rockefeller Financial Services said that they would collaborate on investment opportunities and other areas of shared expertise. The transaction will also give RIT Capital, which is based in London, a presence in the United States. The deal is expected to close by the end of September.
“We are delighted at the prospect of bringing together these two entities in a long-term partnership,” Mr. Rothschild, chairman of RIT Capital, said. “The creation of this partnership with the Rockefeller family is truly historic.”
The deal between the two well-known banking families comes after RIT Capital, whose assets total £1.9 billion, or $3 billion, announced a partnership in March with the Edmond de Rothschild Group, an international private banking and asset management group led Benjamin de Rothschild.
The Rothschilds, whose banking dynasty dates to the 18th century and operates across a number of European countries, are also consolidating their French and British operations.
In a deal announced on April 5, Paris Orléans, the Rothschild Group’s holding company, said it was buying minority stakes in its subsidiaries, including N. M. Rothschild & Sons, the investment bank based in London, and the group’s French asset management business.
ABC Is Hiding Details of Killer Vester Flanagan's Manifesto ...(Must Be Littered With Liberal Propaganda) 2015-08-29 3:45
Killer Vester Flanagan was a big Obama supporter.
But, you’d never know it from the liberal media.
The media is hiding Flanagan’s political leanings from the American public.
ABC has yet to release Flanagan’s manifesto.
It must be littered with embarrassing liberal propaganda.
The Tatler reported, via Instapundit:
Two days ago, ABC News reported that Vester Flanagan, the murderer of two WDBJ employees, sent a 23-page ...
Austria, Libya count dead as number of migrants crossing Mediterranean soars 2015-08-29 1:37
Austria said on Friday 71 refugees including a baby girl were found dead in an abandoned freezer truck, while Libya recovered the bodies of 82 migrants washed ashore after their overcrowded boat sank on its way to Europe and scores more were feared dead.
The U.N. refugee agency said the number of refugees and migrants crossing the Mediterranean to reach Europe ...
Financial Times Calls For Abolishing Cash 2015-08-29 1:07
liminating physical currency necessary to give central banks more power
The Financial Times has published an anonymous article which calls for the abolition of cash in order to give central banks and governments more power.
Entitled The case for retiring another ‘barbarous relic’, the article laments the fact that people are stockpiling cash in anticipation of another economic collapse, a factor which ...
Serbian government bans anti-mass immigration protests, and plans ahead for mass immigration 2015-08-29 1:52
Nebojsa Stefanovic, Serbia’s Interior Minister said protesters who are concerned about “an EU plan” to settle thousands of illegal immigrants into the country, will not be allowed to voice their concerns in a protest march on Monday, 31st of August.
“We will not allow the expression of intolerance and hatred to be something that is characteristic of Serbia” said Stefanovic.
“The Ministry ...
Germany asks Facebook to remove 'racist' anti-migrant posts 2015-08-28 20:32 Heiko Maas, Germany's justice minister, says social network should remove xenophobic posts in the same way it deals with nudity
Germany is calling on Facebook to remove “xenophobic and racist” anti-migrant posts from its website and apps.
Heiko Maas, the German justice minister, has written to the company to demand an urgent review of its policy over hate messages.
“Photos of certain ...