The Rothschild family will unite into a single company its French and U.K. banking interests in order to have more control over the assets.
Bloomberg reported that the decision is part of a move to unite the two branches of the Rothschild family, begun when Evelyn de Rothschild retired in 2004, and David de Rothschild, a cousin and a French citizen, took managerial control of the U.K. side of the bank.
Rothschild & Cie Banque holds French assets of the family, including its Paris-based mergers and acquisitions bank. Rothschilds Continuation Holdings has the London-based N.M. Rothschild & Sons bank, as well as other assets. The two companies will be combined under a French-traded company, Paris Orleans et Cie.