Rothschild & Co.
| Rothschild & Co SCA.
(until September 2015 Paris-Orléans) |
|
|---|---|
| legal form | Société en Commandite par Actions ( partnership limited by shares ) |
| ISIN | FR0000031684 |
| founding | 1838 |
| Seat | Paris |
| management |
|
| Number of employees | 3,559 (2019) |
| sales | 1,872 million euros (2019) |
| Branch | Financial holding |
| Website | rothschildandco.com |
“Rothschild & Co” (until September 2015 Paris-Orléans SA. ) Is the listed financial holding for the English and French branches of the Rothschild banking family . The company's banking business comprises the four areas of Global Financial Advisory , Wealth Management and Asset Management , Corporate Banking and Merchant Banking . In addition, the company makes investments in private equity for its own account .
history
Beginning as a railway company
The company was founded in 1838 under the name Compagnie du chemin de fer de Paris à Orléans (PO) . It had the legal form of a joint stock company and was equipped with starting capital of 40 million francs. In addition, the company had a 70-year concession awarded by the French government to build and operate a railway line between the cities of Paris and Orléans .
With government support, the " Compagnie du chemin de fer de Paris à Orléans " took over several competing railways on March 27, 1852. With these mergers, the “ Compagnie du chemin de fer de Paris à Orléans ” had almost reached its final expansion.
1934 merged the PO and the Chemin de Fer du Midi to the Chemin de Fer de Paris à Orléans et du Midi (PO-Midi). In order to create a network under state control, the PO-Midi railway operations were nationalized on January 1, 1938. After the nationalization of the railway operations, the " Chemin de Fer de Paris à Orléans et du Midi " remained an extensive property portfolio.
Majority takeover by the French Rothschilds
The French branch of the Rothschild banking family took over the majority of the listed company after the Second World War and converted it into a holding company for its banking and corporate investments. These mainly included the “ Banque Rothschild ” (bank), the “SGIM” (real estate company), the “SIACI” (insurance broker), the “Francarep” (oil company) and the “SGDBR” (wineries).
After the nationalization of the "Banque Rothschild" in 1982, the French Rothschilds used the company now known as "Paris-Orléans SA" as the starting point for setting up a new Rothschild bank in France. In the following year, Paris-Orléans founded the “Paris-Orleans Gestion”, which later became the “Rothschild & Cie Banque”.
Between 1987 and 1994 Francarep gradually gave up its oil activities and instead increasingly concentrated on private equity (company investments ). At the same time, Paris-Orléans brought in its stakes in SGIM, SIACI and SGDBR (today “Domaines Barons de Rothschild”, “DBR” for short) in exchange for an increased capital share in Francarep. In 2004 Francarep was finally completely taken over by Paris-Orléans and then integrated. Since then, Paris-Orléans has been active as an investment company in addition to banking .
The merger of the banking activities of the British and French branches of the Rothschild family in January 2008 made Paris Orléans SA the central holding company for the family's business.
On April 4, 2012, Paris-Orleans announced a comprehensive reorganization. The main aim was to change the legal form of the company from a stock corporation (France) to a partnership limited by shares (France) and to take over the share capital of Rothschild & Cie Banque and Rothschild Continuation Holdings in full. Outside shareholders of these two companies would be compensated with newly issued shares of Paris-Orléans. This restructuring was intended to ensure that, in addition to a streamlined group organization and a strengthened capital base, control of the company by the Rothschild family is also secured in the future.
On April 8, 2015, the company announced that it would rename itself from Paris-Orléans to Rothschild & Co , if the general meeting of shareholders on September 24, 2015 approves. The name change sought, however , met with resistance from Edmond de Rothschild (Suisse) , which is ruled by the Swiss branch of the Rothschild family. In the event of a name change, so the allegation, the names of the two banking groups would be too similar and the previous differentiation would no longer exist.
Rothschild & Co today
Rothschild & Co has a total of 56 offices in 43 countries on five continents and employs 2,855 people worldwide (as of the end of March 2015). The group focuses on three business areas in the banking business:
- “Global Advisory”: advisory services for mergers and acquisitions, as well as for their financing;
- “Wealth Management and Asset Management”: asset management for private and institutional investors ;
- "Merchant Banking": Management of private equity investments both for own account and for third parties.
The former fourth area, "Bank & Asset Finance", which dealt with lending and structuring financing packages, has been gradually being processed since 2008.
Rothschild & Co's share capital is 47.1% (53.08% of the voting rights) controlled by the British and French branches of the Rothschild family. Another 7.83% of the share capital (10.42% of the voting rights) is held by Edmond de Rothschild (Suisse) . As the largest non-family shareholder, Jardine Matheson Holdings holds 5.93% of the share capital (7.97% of the voting rights). 36.51% of the share capital (28.54% of the voting rights) is widely diversified on the stock exchange (as of the end of March 2015).
The subsidiaries of Rothschild & Co are controlled via an intermediate holding, Rothschilds Continuation Holdings AG ( Zug ). The most important are (as of the end of March 2014):
- NM Rothschild & Sons Ltd , London (100%);
- Rothschild & Cie. Banque SCS (France), Paris (100%);
- Rothschild Bank AG (Switzerland) , Zurich (72.7%, another 12.1% of the share capital is held by Edmond de Rothschild (Suisse)).
In addition, Rothschild & Co owns 8.4% of the share capital of Edmond de Rothschild (Suisse).
literature
- Paris-Orléans train. In: Viktor von Röll (ed.): Encyclopedia of the Railway System . 2nd Edition. Volume 7: Kronenbreite personal tariffs . Urban & Schwarzenberg, Berlin / Vienna 1915, pp 468 -469.
Web links
- French article on the history of the "Compagnie du Chemin de fer de Paris à Orléans".
- Homepage of the Paris-Orleans SA company.
Individual evidence
- ↑ a b Annual Report 2019 (PDF) Retrieved June 30, 2020 (English).
- ↑ http://www.finews.ch/news/banken/17814-rothschild-banque-privee-edmond-de-rothschild-rothschild-cie-david-ariane-paris-orleans-gericht
- ↑ http://www.finews.ch/news/banken/17915-banque-edmond-de-rothschild-paris-orleans-david-benjamin-ariane-genf-namen
- ↑ http://www.paris-orleans.com/upload/2012_2013/rapports_annuels/UK_ParisOrleans_RA2012_2013.pdf
- ↑ http://www.paris-orleans.com/upload/2014_2015/Annuels/PO_UK_press_release_FY_2014_2015.pdf