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TheRothschild banking family of England is the British branch of theRothschild family. It was founded in 1798 byNathan Mayer Rothschild (1777–1836), who first settled inManchester before moving toLondon,Kingdom of Great Britain (in present-dayUnited Kingdom). He was sent there from his home inFrankfurt by his father,Mayer Amschel Rothschild (1744–1812). Wanting his sons to succeed on their own and to expand the family business across Europe, Mayer Amschel Rothschild had his eldest son remain in Frankfurt, while his four other sons were sent to different European cities to establish a financial institution to invest in business and provide banking services. Nathan Mayer Rothschild, the third son, first established atextile jobbing business in Manchester and from there went on to establishN M Rothschild & Sons bank in London.
From the family's home base in Frankfurt, the Rothschild family not only established itself in London but also inParis,Vienna andNaples in theTwo Sicilies. Through their collaborative efforts, the Rothschilds rose to prominence in a variety of banking endeavours, includingloans,government bonds and trading inbullion. Their financing afforded investment opportunities, and during the 19th century, they became major stakeholders in large-scalemining andrail transport ventures that were fundamental to the rapidly expanding industrial economies of Europe.
Changes in governments, wars and other such events affected the family's fortunes, both for their benefit and to their detriment at various times. Despite such changes, the British branch of the Rothschild family is arguably the most prominent of all the Rothschild branches, partly due to its elevation to theBritish peerage and its continued high-profile philanthropic activities.
During the early part of the 19th century, the Rothschild family's London bank took a leading part in managing and financing the subsidies that the British government transferred to its allies during theNapoleonic Wars. Through the creation of a network of agents, couriers and shippers, the bank was able to provide funds to the armies of theDuke of Wellington inPortugal andSpain. In 1818, the Rothschild bank arranged a £5 million loan to thePrussian government and the issuing ofbonds for government loans. The providing of other innovative and complex financing for government projects formed a mainstay of the bank's business for the better part of the century. The financial strength of N M Rothschild & Sons in theCity of London became such that by 1825–26, the bank was able to supply enough coin to theBank of England to enable it to avert aliquidity crisis.[citation needed]
Nathan Mayer's eldest son,Lionel de Rothschild (1808–1879), succeeded him as head of the London branch. Under Lionel, the bank financed the British government's 1875 purchase ofEgypt's interest in theSuez Canal. Lionel also began to invest in railways, as his uncleJames had been doing in France. In 1869, Lionel's son,Alfred de Rothschild (1842–1918), became adirector of the Bank of England, a post he held for 20 years. Alfred was one of those who represented the British government at the 1892International Monetary Conference inBrussels.
The Rothschild bank fundedCecil Rhodes in the development of theBritish South Africa Company, andLeopold de Rothschild (1845–1917) administered Rhodes's estate after his death in 1902 and helped to set up theRhodes Scholarship scheme atOxford University. In 1873,de Rothschild Frères in France and N M Rothschild & Sons of London joined with other investors to acquire the Spanish government's money-losingRio Tinto copper mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 per cent. In 1887, the French and English Rothschild banking houses loaned money to, and invested in, theDe Beers diamond mines inSouth Africa, becoming its largest shareholders.
The London banking house continued under the management ofLionel Nathan de Rothschild (1882–1942) and his brotherAnthony Gustav de Rothschild (1887–1961), and then toSir Evelyn de Rothschild (1931–2022). In 2003, following Sir Evelyn's retirement as head of N M Rothschild & Sons of London, the British and French financial firms merged under the leadership ofDavid René de Rothschild.
Beyond banking and finance, members of the Rothschild family in the UK became academics,scientists andhorticulturalists with worldwide reputations.
Nathaniel de Rothschild (1812–1870) was born in London, the fourth child of the founder of the British branch of the family. In 1842, he married his cousinCharlotte de Rothschild (1825–1899) ofParis, France. She was the daughter ofJames Mayer de Rothschild, and in 1850, they moved to Paris, where he was to work for his father-in-law's bank. However, in 1853, Nathaniel acquired Château Brane Mouton, avineyard atPauillac in theGirondedépartement of France.
In 1822, the five Rothschild brothers at the head of the family's banks in various parts of Europe were each granted the hereditary title ofFreiherr (baron) in theAustrian nobility by EmperorFrancis I of Austria (formerlyFrancis II, the lastHoly Roman Emperor).[1] As a result, some members of the Rothschild family used thenobiliary particlede orvon before their surname to acknowledge the grant of nobility.
In 1847,Anthony Nathan de Rothschild (1810–1876) was made abaronet in theBaronetage of the United Kingdom.[2] Upon his death, the title went to his nephewNathan Mayer Rothschild, who was subsequently elevated to theHouse of Lords when he was createdBaron Rothschild in 1885, with which title the baronetcy remains merged.
In 1858,Lionel de Rothschild (1808–1879) became the first practising Jew to take a seat in theBritish Parliament.
The British Rothschilds and members of the other branches in Europe were all major contributors to causes in aid of the Jewish people. However, many of their philanthropic efforts extended far beyond Jewish ethnic or religious communities. They built hospitals and shelters for the needy[citation needed], supported cultural institutions and were patrons of individual artists. Their donation of works of art to various galleries has been the largest of any family in history. At present, a research project is underway by the Rothschild Archive in London to document the family's philanthropic involvements.[3]
Members of the Rothschild family of the UK include:
Among the Rothschild properties in the UK are:
