April 17 (Reuters) - Alexandre de Rothschild, 37, will replace his father as chairman of the famed Rothschild investment bank, the group said on Tuesday, with Rothschild keen to keep its leading position in France amid growing competition.
Last month, Rothschild reported higher annual profit and revenues, buoyed by its advisory work.
However, Rothschild faces increasing competition, with rival Lazard hiring more staff and Perella Weinberg Partners also looking to open an office in Paris.
The Rothschild banking dynasty has worked on some epochal deals during its history, including helping finance Britain’s war against French military leader Napoleon. (Reporting by Sudip Kar-Gupta; Editing by Amrutha Gayathri)
Our Standards: The Thomson Reuters Trust Principles.