Rothschild & Co Chairman David de Rothschild is expected to step down in June, with his son, Executive Deputy Chairman Alexandre de Rothschild, to replace him, the Financial Times reported.
The dynastic handover comes as Rothschild diversifies its core French and British advisory business, the FT noted. The younger de Rothschild first joined the Franco-British investment bank in 2008, having previously worked at Bank of America Corp., and has since set up and helped oversee the group's private equity business.
As of Feb. 27, the Rothschild family had a 49% stake in the bank and controlled 58% of its voting rights, the report said. Just over 26% of the company's shares are listed on Euronext Paris.
