The Rockefellers and the Rothschilds Make a Deal

Two families whose names are synonymous with wealth have joined forces.

The Financial Times reports that RIT Capital Partners, part of the Rothschild banking dynasty, has bought a stake in Rockefeller Financial Services.

RIT is acquiring the 37 percent equity interest formerly held by Société Générale Private Banking.

While the Rockefellers are considered old money in the U.S., the Rothschild fortune goes back many more generations in Europe.

Patriarch Mayer Amschel Rothschild had such a tremendous impact on international banking that Forbes in 2005 named him to its list of 20 most Influential Businessmen.

John D. Rockefeller died 125 years later, as the world's richest man.

He had established the wealth services company in 1882, to manage the family fortune.

His grandson, former Chase Manhattan Bank Chairman David Rockefeller, has a longtime personal relationship with the Rothschilds.

In a press release, Rockefeller said, "Lord Rothschild and I have known each other for five decades. The connection between our two families remains very strong. I am delighted to welcome Jacob and RIT as shareholders and partners in the ongoing development of our investment management and wealth advisory businesses.”

The deal began, according to the Financial Times, when he introduced Jacob Rothschild, great-great-great-great-grandson of patriarch Mayer Amschel Rothschild, to Reuben Jeffery, CEO of Rockefeller Financial.

The chart below shows the new link between the two dynasties.

An interactive version can be seen on Muckety.com.