Lord Jacob Rothschild, co-founder of St James’s Place, has died aged 87, his family announced today (February 26).
In a statement to the Press Association’s news agency, the family described the financier as a “towering presence in many people’s lives”.
The cause of death was not given but the family confirmed Rothschild would be “buried in accordance with Jewish custom in a small family ceremony”.
In 1991, Rothschild founded J Rothschild Assurance Group alongside Sir Mark Weinberg and Mike Wilson which is now known as UK wealth management firm St James’s Place.
In a post on the social media site ‘X’, SJP posted a tribute to the financier and said they were “deeply saddened” to learn of his passing.
It said: “Lord Jacob Rothschild leaves an extraordinary legacy in helping to shape the financial advice profession in the UK. Alongside this, Lord Jacob Rothschild was a patron of the arts and a passionate charitable supporter of a number of different causes.”
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Rothschild also formed the listed investment trust RIT Capital Partners in 1980 and chaired it until 2019.
Others shared their condolences via social media with one user on LinkedIn posting: “I am deeply saddened by the news of Lord Jacob Rothschild’s passing. His mentorship throughout the years has been invaluable to me and I always enjoyed running alongside him during our walks in St James Park.
“His legacy and good work will live on through Ritcap, his various philanthropic endeavours, and his children.”
Alongside his financial career, Rothschild was also a patron of the arts and sat on the board of trustees at the National Gallery between 1985 and 1991.
Former UK chancellor and chair of the British Museum, George Osborne, wrote on X: “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.
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“His contributions to the Waddesdon gallery make it one of the crown jewels of the British Museum. Smart, curious, full of new projects and with a dry humour, he will be missed.”
source: ftadviser.com/sjp-co-founder-lord-jacob-rothschild-dies-aged
