Rothschilds to Unite French, U.K. Banks to Secure Control

The Rothschild family plans to merge its French and U.K. banks into one company to tighten control over the assets before an eventual succession of the group’s chief, David de Rothschild.

Rothschild & Cie Banque, the company that holds the French assets of the family such as the eponymous Paris-based mergers and acquisitions bank, and Rothschilds Continuation Holdings AG, which holds assets including London-based bank N.M. Rothschild & Sons Ltd., will be combined under French-traded Paris Orleans et Cie. SA, it said in an e-mailed statement last night. Paris Orleans will change its legal structure to a limited partnership to give the family control over the long term, it said.