Founder of one of South West’s most successful businesses passes away

The founder of one of the South West’s most successful businesses has passed away.

Lord Jacob Rothschild,  financier, philanthropist and member of the Rothschild banking family, has died at the age of 87.

Lord Rothschild started his career at the family bank NM Rothschild & Sons before leaving in 1980 to co-found a number of companies including J Rothschild Assurance Group, now St James’s Place, with Sir Mark Weinberg.

Lord Rothschild also held a number of senior roles in the City, including deputy chair of BSkyB between 2003 and 2008.

He was chair of RIT Capital Partners, one of the largest investment trusts quoted on the London Stock Exchange, from 1988 to 2019.

St James’s Place, which has its head office in Cirencester, said it was “deeply saddened”.

“As a hugely accomplished financier and a co-founder of St James’s Place, Lord Rothschild leaves an extraordinary legacy in helping to shape the financial advice profession in the UK,” it added.

Educated at Eton and at Christ Church, Oxford, Rothschild was regarded as one of the sharpest brains in the City in the 1980s and was involved in a number of high-profile deals.

In a statement his family said: “Our father Jacob was a towering presence in many people’s 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 Jewish culture, a keen environmentalist and much-loved friend, father and grandfather.”

Lord Rothschild was married for more than five decades to Serena, who died in 2019, and leaves three daughters and a son as well as a number of grandchildren.