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The French and English branches of the Rothschild banking dynasty are to unify ownership of the firm in a single holding company for the first time since the family separated in the 19th century.
Under the new structure, the two sides of the family will own shares in a holding company, FamilyCo, which in turn will own the French and English banks through an existing French vehicle called Paris-Orleans, listed on the Paris bourse.
Now they are to be united at shareholder level to "secure the unity and long-term independence of the banking group", said a statement released yesterday.