Rothschilds to Unite French and U.K. Banks to Secure Control


By Anne-Sylvaine Chassany – Apr 5, 2012

The Rothschild family plans to merge its French and U.K. banks into one company to tighten control over the assets before an eventual succession of the group’s chief, David de Rothschild.

Rothschild & Cie Banque, the company that holds the French assets of the family such as the eponymous Paris-based mergers and acquisitions bank, and Rothschilds Continuation Holdings AG, which holds assets including London-based bank N.M. Rothschild & Sons Ltd., will be combined under French-traded Paris Orleans et Cie. SA, it said in an e-mailed statement last night. Paris Orleans will change its legal structure to a limited partnership to give the family control over the long term, it said.

“This will enable us to address the requirements of a globalized and competitive world while securing control of the family over the group,” David de Rothschild, who oversees the whole firm, said in the statement. Photographer: Peter Foley/Bloomberg

“This will enable us to address the requirements of a globalized and competitive world while securing control of the family over the group,” David de Rothschild, 69, who oversees the whole firm, said in the statement.

The decision is part of a unification process between the two branches of the family that started when David de Rothschild took managerial control of the U.K. side of the bank after his cousin Evelyn de Rothschild retired in 2004. While David is the first French national to run the English half, the ownership of the investment bank has remained split between the two families. The plan simplifies the ownership of the banking operations worldwide and will help integrate the teams further.

Succession Planning

The new structure will also facilitate the succession plans of David de Rothschild. He will be chairman of PO Gestion, a company fully owned by the Rothschild family and which will control Paris Orleans (PAOR), while Nigel Higgins, chief executive officer of Rothschilds Continuation, and Olivier Pecoux, CEO of Paris Orleans, will become co-heads of PO Gestion. His son Alexandre de Rothschild, 32, joined the family bank in 2009 from Argan Capital, Bank of America Corp.’s former European private- equity division.

“My son at 37 may be qualified to play some role,” David de Rothschild said in a 2005 interview. “It’s subject to him enjoying it and having the qualities.”

He envisages stepping down when he is between 72 and 76, he was quoted as saying in an interview with French newspaper Le Figaro today.

David was born in the U.S. when his parents fled the Nazis during World War II. The family returned to Europe when the war ended, and during the 1960s, Evelyn and his cousin Jacob rebuilt the London bank, N.M. Rothschild & Sons Ltd.

June Approval Sought

In Paris, David’s father, Guy, expanded the bank by opening branch offices and taking deposits. David joined the investment bank as chairman of the management committee in 1978 when he was 36. In 1982, the Paris bank was nationalized by Socialist President Francois Mitterrand. The same year, David opened an asset-management business in France, which he called PO Banque.

Paris Orleans is offering to buy out minority shareholders at 17 euros ($22) per share and will seek approval at a meeting in June, it said. Paris Orleans directly and indirectly owns 45 percent of Rothschild & Cie. and controls about 53 percent of Rothschilds Continuation. RIT Capital Partners Plc, the London- based investment trust led by Jacob Rothschild, and Edmond de Rothschild Group aren’t part of the group led by David de Rothschild.

Paris Orleans shares rose 3.4 percent to 16.86 euros at 12:50 p.m. in Paris, valuing the company at 548.2 million euros.

To contact the reporter on this story: Anne-Sylvaine Chassany in London at achassany@bloomberg.net

Advertisements
Comments
5 Responses to “Rothschilds to Unite French and U.K. Banks to Secure Control”
  1. jack loach says:

    Update —- March 30th 2013.

    Pictet & Cie Bank —- List of Crimes.

    1996 — F.S.A. — Breach in London.

    2003 — F.S.A. — States rogues operating in Pictet’s London offices. Ivan Pictet states that documents were forgeries but were later proved to be genuine in the British Courts. ( Ivan Pictet a proven liar.). He had documents destroyed in their London office – hoping to hide the crimes.

    2007 — The Securities & Exchange Surveillance ( Japan.) issued a recommendation that the Prime Minister and the Commissioner of the F.S.A. to take disciplinary action against Pictet Asset Management – Japan Ltd.

    2008 — Dec. — Pictet Bank state – “ We have never chosen any funds linked to MADOFF.

    2011 – Madoff Trustees sue Pictet & Cie. Bank . for $156,000,000. ( They lied again.)

    2011 — Pictet & Cie bank abetted a Bribery Scheme. — Oil Company sues Pictet Bank for — $350,000,000.

    2012 — April.—Pictet & Cie, Bank .Geneva implicated in offshore Tax Scheme. –USA .

    2012 — June. — Published in Anglo INFO. Geneva, —- USA Trust Fund were sent false and fraudulent documents by Pictet Bank in order to collect large fees.
    (Like MADOFF). – Even after the SEC in the USA had uncovered the fraud Pictet Bank continued to charge fees and drain whatever was left in these accounts.
    Estimated that – $90,000,000 was lost in this Pictet Ponzi Scheme.

    2012 — July — German paper –De – Spiegel — states — Pictet Bank uses a letterbox company in Panama and a tax loophole involving investments in London to lure/gain German Millionaires as clients.

    2012 — August. — German Oppositon Leader accuses Swiss Banks of “ organised crime”.

    2013 — Swiss M.P.’s table motion to freeze Tiab Mahmuds assets of “ criminal origins” held in Swiss banks — $18,000,000 held in five accounts at Pictet & Cie Bank . Bahamas.

    2013 — Feb. — The bank is now seeking to re-structure — to cut the partners liability ( not to risk their ill gotten personal wealth.) — hoping to offload the decades of criminal responsibility. ( Some listed above.)

    The Germans are right – the bankers should go to prison if found guilty of financial crimes. ( Madoff got 151 years in prison — surely the Pictet Bank’s partners should go to jail.)

    Ironically the Pictet & Cie .Bank partners are bigger criminals than the criminals who have accounts in their bank.

    _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

    Pictet & Cie Bank.— Partners —– ( 1996—2013)—Guilty.
    Peters & Peters — Partners —— (1996 — 2013) —Guilty.

    The bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court Order. The bank and it’s officials/lawyers deliberately held evidence from the police/courts.

    One of Pictet’s accounts managers SUSAN BROADHEAD gave a false witness statement to the police. The banks Head of Alternative Investments concocted a letter pretending to be a client and closed his account.

    The senior partner ( IVAN PICTET) sought to have numerous documents destroyed along with copies held in their London Office’s of Pictet Asset Management. Initially stating that they were forgeries.

    Their lawyers PETERS & PETERS —– re MONTY RAPHAEL.Q.C. and the barrister CHARLES FLINT. Q.C. later had to admit in Court that the documents were indeed genuine.

    British Parliament. Hansard.
    Barry Sheerman .M.P. — quote:

    “ Constituents of mine have lost £2,000,000. through fraud. The fraudster used Pictet & Cie – a French Bank – and Pictet Asset Management to back the fraud being perpetrated”.

    Both Ivan Pictet and Monty Raphael Q.C. conspired to withhold crucial documents requested by the High Court —- the F.S.A —– and the Police Fraud Squad.

    Written Parliamentary Questions received by the table office.

    (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

    (2) To ask the secretary of state what steps he is taking mto protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

    – – – – – – – – – – – – – – – .
    The consensus of opinion is that Pictet & Cie bank should be prosecuted, and that their U.K. Banking licence should be taken away.

    Their Solicitors at Peters & Peters.London. – “ Struck off and prosecuted.

    In America They would have all been in prison for the last seven years.

    Full Story. —– Google or Yahoo.

    Ivan Pictet. Banker.
    Charles Pictet. Banker.
    Nicolas Pictet. Banker.
    Renaud de Plant. Banker.
    Francois DeMole. Banker.
    Jacques de Saussure. Banker.
    Philippe Bertherat. Banker.

  2. jack loach says:

    Peters & Peters Partners — (1999 — 2013) – guilty.
    Pictet & Cie Bank – Partners -(1996—2013) – guilty.

    Feb.1st.2013
    The bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials/lawyers deliberately withheld evidence from the Police, and one of it’s account managers Susan Broadhead gave a false witness statement to the Police.
    Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office’s of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael Q.C.–and the barrister Charles Flint.Q.C. later had to admit in Court that the documents were genuine.

    British Parliament. Hansard .29th March 2007.
    Barry Sheerman .M.P.—quote.

    ———“ Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie – – a French Bank – – and Pictet Asset Management to back the fraud being perpetrated.””

    (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.) assisted by Monty Raphael.Q.C.

    (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted . + Monty Raphael.Q.C.

    (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery .+ Monty Raphael Q.C.

    (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael Q.C.).

    (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation .+ Monty Raphael.Q.C.

    (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention.+ Monty Raphael Q.C.

    (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A. + Monty Raphael Q.C.

    In the F.S.A. cover up , they concluded that there had been “ Rogue” elements in Pictet & Cie’s , London operations . They had been moved from their London Office so who was there left to prosecute. “ Unbelievable.”

    *** We thank –David Cameron. M.P. ( Canary Wharf Speech.)
    PRIME MINISTER.

    (1) Bankers who behave irresponsibly should face professional consequences.
    (2) If anyone is found to have behaved criminally they must be prosecuted.
    (3) The F.S.A and the Serious Fraud Office should be following up every lead,
    investigating every suspect transaction .
    (4) We need to make it 100% clear –those who break the law should face
    prosecution.
    (5) That we make sure we root out any wrongdoing that may have happened, whoever
    is involved, however high or well connected they may be.

    Both Ivan Pictet and Monty Raphael.Q.C. conspired to withhold crucial documents requested by the High Court – the FSA — and the Police Serious Fraud Squad.

    Written Parliamentary Questions received by the table office ..

    (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

    (2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

    Quote. ( America’s Top Lawyer .)
    You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth.

    *** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.

    The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.

    Their Solicitors at Peters & Peters .London “ struck off and prosecuted..”

    *** Started campaign — June 6th.2008.
    4 .5years —- approx 8 .5 million e-mails – – – but still no writs, injunctions or threats of litigation – – – WHY – – – because it is all true.

    *** . The bigger they are — the harder they fall.!!!
    In America —- they would have all been in prison for the last seven years.

    Monty Raphael Q.C. — Master of the Bench — one of the main advisors to the F.S.A. — the Banks.— and the Police.

    Seeing that the Banks and the Police are now top of the criminality table and the F.S.A. top of the incompetency list for government bodies — we cannot understand why Monty Raphael Q.C. and his firm of Peters & Peters are still allowed to operate.( Friends in high places.)

    Monty And Friends In Association.

  3. jack loach says:

    Update . Jan17th.2013..

    The following sent to – – – – 312- – Lords – – – – – – House of Lords. ( Inc. Lord Myners.)
    The following sent to – – – – 649 – – M.P.’s – – – – – House of Commons.

    SWISS BANK PARTNERS IN CRIMES.

    Pictet & Cie Bank.

    Ivan Pictet.
    Charles Pictet.
    Nicolas Pictet.
    Jacques de Saussure.
    Jean – Francois Demole.
    Renaud de Planta.
    Philippe Bertherat..

    Pictet & Cie.- claim they are the “Rolls Royce”of Swiss banks.

    Swiss Banks or more correctly Swizz banks.

    Swizz. —- “ a great disappointment.” or a “ fraud.”

    Fraud. —“ an intentional deception or dishonesty.”— “a crime.”

    Crime. —“ an act committed or omitted in violation of a law.”

    Serious Crimes .
    Conspiring to pervert the Course of Justice.
    Perverting the Course of Justice.
    Contempt of Court.

    Pictet & Cie Bank –Partners –(1996—2012)—guilty.
    Peters &Peters – Partners.— (1999—2012)— guilty.

    The bank and it’s officials/lawyers deliberately withheld crucial documents requested under a High Court order. The bank and it’s officials/lawyers deliberately withheld evidence from the Police, and one of it’s account managers Susan Broadhead gave a false witness statement to the Police.
    Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.) sought to have numerous documents destroyed,along with those copies held in their London office’s of Pictet Asset Management. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael –and the barrister Charles Flint.Q.C. later had to admit in Court that the documents were genuine.

    British Parliament. Hansard .29th March 2007.
    Barry Sheerman .M.P.—quote.

    ———“ Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie – – a French Bank – – and Pictet Asset Management to back the fraud being perpetrated.””

    (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.)

    (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted .

    (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery .

    (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael).

    (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation .

    (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention.

    (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A.

    In the F.S.A. cover up , they concluded that there had been “ Rogue” elements in Pictet & Cie’s , London operations . They had been moved from their London Office so who was there left to prosecute. “ Unbelievable.”

    *** We thank –David Cameron. M.P. ( Canary Wharf Speech.)
    PRIME MINISTER.

    (1) Bankers who behave irresponsibly should face professional consequences.
    (2) If anyone is found to have behaved criminally they must be prosecuted.
    (3) The F.S.A and the Serious Fraud Office should be following up every lead,
    investigating every suspect transaction .
    (4) We need to make it 100% clear –those who break the law should face
    prosecution.
    (5) That we make sure we root out any wrongdoing that may have happened, whoever
    is involved, however high or well connected they may be.

    Ivan Pictet.
    Managing partner in Pictet & Cie Bank . — retiring -?. 2010.
    President of the Geneva Financial Centre. —stepping down -2010. ?
    World Bank.committee member.—- ?
    United Nations. Investment Committee member,
    Vice President – Global Humanitarian Forum. — redundant.2010.?
    Member of the Henokiens.
    Blackstone Group — Board Member.
    Past- President – Geneva Private Bankers association.
    Past –President – Geneva Chamber of Commerce and Industry.

    Monty Raphael. ( Peters & Peters.)
    Quote.” —- Doyen of U.K. Fraud lawyers.
    Head of Fraud and Regulatory Dept. —- stepping down, –2009.? Director of the Fraud Advisory panel.
    Member of the Law Society of England & Wales.
    International Bar Association Member.

    Written Parliamentary Questions received by the table office ..

    (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

    (2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

    Quote. ( America’s Top Lawyer .)
    You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth.

    Truth Hurts.
    Ivan Pictet. Announces stepping down from Pictet & Cie. 5th Feb 2010.
    Stepping Down—President of Geneva Financial centre.—2010.
    Monty Raphael. Steps down as head . May. 2009.

    *** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.

    *** Were currently waiting to see if the Police and other Law Enforcement Bodies attempt to cover this case up like their F.S.A. counterparts. If they do –“ then watch this space.”

    We were informed that due to pressure from our M.P. that the Ministry of Justice have asked Lord Myners to investigate our claims that the F.S.A. covered up the illegal activities of Pictet Asset Management. London.
    It has been noted that the book launch for PICTET was held at Lord Myners Belgravia home.We might as well have asked Ivan Pictet to investigate our complaint.-or someone from FRIENDS RE-UNITED.

    Lady Myners on Prix PICTET advisory board.

    The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.

    Their Solicitors at Peters & Peters .London “ struck off and prosecuted..”

    *** Started campaign — June 6th.2008.
    4 .5years —- approx 8 .5 million e-mails – – – but still no writs, injunctions or threats of litigation – – – WHY – – – because it is all true.

    *** . The bigger they are — the harder they fall.!!!
    In America —- they would have all been in prison for the last seven years.

    Full Story.

    ” Google ” .

    Insert– ( Charles Pictet. Banker.
    Insert– ( Ivan Pictet.Banker.
    Insert– ( Jacques de Saussure.Banker.
    Insert– ( Nicolas Pictet. Banker.
    Insert– ( Jean-Francois Demole.Banker.
    Insert– ( Renaud de Planta. Banker.
    Insert –(Philippe Bertherat. Banker.

  4. jack loach says:

    Pictet & Cie. Bank – list of crimes.

    1996 — Breach in London.
    2003 — FSA — States rogues operating in Pictet’s –London
    Office . Ivan Pictet said documents were forgeries but
    were lated proved to be genuine. Had documents held
    in London office destroyed. (hoping to hide crimes.)

    2007 — Japan. —- The Securities and Exchange Surveillance
    issued a recommendation that the Prime Minister and
    The Commissioner of the FSA to take disciplinary
    action against Pictet Asset Management. Japan Ltd.

    2008 — Dec. —Pictet Bank state — “ we have never chosen
    any funds linked to Madoff.”

    2011 — Madoff Trustees sue Pictet & Cie. For $156 Million.

    2011— Bank at centre of Bribery and money laundering case.
    Being sued for $350 million. ( In U.S.A.)

    2012.— April.– Geneva Bank Pictet used in Offshore Tax
    Scheme U.S. Authority states.

    2012.— July.– De- Spiegel — States– Pictet Bank uses a
    letterbox company in Panama and a tax loophole
    involving investments in London to gain German
    millionaires as clients.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: