Rothschild family to take investment bank private

The Rothschild family is set to take its investment bank private as its holding company announced plans Monday to buy out the shares it does not own in the centuries-old business.

Concordia, which holds almost 40 percent of the capital of Rothschild & Co. and 47.5 percent of voting rights, said it was in advanced negotiations with investors and banks to finalise the financing of the offer.

The offer would be priced at 48 euros per share, or 19 percent higher than Friday’s closing price, the holding said in a statement.

It is also 15 percent up from the all-time high reached in January 2022.

The fabled banking dynasty was founded by Mayer Amschel Rothschild in Frankfurt in the 18th century.

His five sons branched out in Frankfurt, London, Paris, Vienna and Naples in the early 19th century.

More recently, the bank is famous for having employed Emmanuel Macron before he became president of France. — Agence France-Presse

Swiss sweat over size of new superbank

The arranged marriage of UBS and Credit Suisse will create the biggest bank Switzerland has ever seen, with some wondering if the superbank might be too big for its own good.