ARIANE DE ROTHSCHILD

SWITZERLAND’STOP LADY BANKER

NO

.11

–JU

NE

2ND

-15T

H20

10

ARIANE DEROTHSCHILD

The Baron’s wifehas his fullconfidence.

SPECIAL ISSUE ON WOMEN PROFILE

KEY DATESNOVEMBER 1965

Born inSan Salvador1988-1990BBA and MBAin financeand financialmanagement atPace University,New York1988-1990Securities analystand then currencydealer atSociété Généralein Australiaand New York1990-1995Currency dealerat AIG, New York,then opened theAIG subsidiary inParis and helpeddevelop theEuropean market1993Met Benjaminde Rothschild2008Elected to theboards of BanquePrivée Edmondde Rothschild SAand Edmond deRothschildHolding SANOVEMBRE 2009ElectedVice-Chairwomanof Edmondde RothschildHolding SA

AGenderRevolution

SweepstheRothschildsShe is Switzerland’s most powerfullady banker. Ariane de Rothschild nowoccupies the second-highest position in theEdmond de Rothschild Group after that ofher husband, Benjamin. The Baroness, whotrained as a trader and knowsthe ways of the world, agreed to meetthe Swiss press for the first time.

BY STÉPHANE BENOIT-GODET AND MYRET ZAKI PHOTOS THIERRY PAREL

BILAN 2 juin 2010

ARIANE DEROTHSCHILD

The Baron’s wifehas his fullconfidence.

SPECIAL ISSUE ON WOMEN PROFILE

KEY DATESNOVEMBER 1965

Born inSan Salvador1988-1990BBA and MBAin financeand financialmanagement atPace University,New York1988-1990Securities analystand then currencydealer atSociété Généralein Australiaand New York1990-1995Currency dealerat AIG, New York,then opened theAIG subsidiary inParis and helpeddevelop theEuropean market1993Met Benjaminde Rothschild2008Elected to theboards of BanquePrivée Edmondde Rothschild SAand Edmond deRothschildHolding SANOVEMBRE 2009ElectedVice-Chairwomanof Edmondde RothschildHolding SA

AGenderRevolution

SweepstheRothschildsShe is Switzerland’s most powerfullady banker. Ariane de Rothschild nowoccupies the second-highest position in theEdmond de Rothschild Group after that ofher husband, Benjamin. The Baroness, whotrained as a trader and knowsthe ways of the world, agreed to meetthe Swiss press for the first time.

BY STÉPHANE BENOIT-GODET AND MYRET ZAKI PHOTOS THIERRY PAREL

BILAN 2 juin 2010

The Rothschild dynasty has a new face and it belongs to awoman, Ariane de Rothschild, wife of Baron Benjamin deRothschild. A seasoned financier, the «banker’s wife»has become the lady banker of the Edmond de RothschildGroup since 2008, when she was elected to its mainboards of directors. Ariane de Rothschild, a French andGerman dual national, embodies a new role model of fe-male success. One thing is certain: the next head of thedynasty will be a woman as well, because Ariane and

Benjamin have four daughters. At present the young Baroness is showingthem the way through her active involvement in all the Group’s entities.

Banque Privée Edmond de Rothschild SA, the Group headquarters in theheart of Geneva’s banking district, features a plush atmosphere exuded byits rich tapestries, antique furniture and gourmet cooking. But it also sportsultra-modern works of art that were hand-picked by Baroness Benjamin deRothschild. She is the epitome of modernness, as illustrated by her office inrue de Hollande. Lovely, at 45 she has been Vice-Chairwoman of thegroup’s holding company since last November and has become her hus-band’s indispensable «right-hand lady». This is her first interview withSwiss journalists.

They met in 1993 when she, still ArianeLangner, was 28 years old. Trained as acurrency trader, she became a new breedof business leader. Reminiscing on herbrilliant and atypical career, she notes,«It’s unusual to see a husband and wife atthe head of a company, but that’s how weenvisage family capitalism.»

SHARED RESPONSIBILITIESThe Baroness admires her husband for histrailblazing spirit and for his confidence inher. «I’m lucky to have a husband who wan-ted to share his responsibilities with me,»she observes. Baron Benjamin presides overthe Group and helps devise its strategy. «Hehas an original approach to business,»

Ariane de Rothschild tells us. Interviewed byBilan six years ago, the most powerful of theRothschilds had shown the same straight-forward rapport with people and things thathis wife shows now. He is exceptionaly gif-ted, intuitive and quick-minded.

We ask her if that means he is misunders-tood by other bankers. «He should never beunderestimated,» Ariane de Rothschildcautions. «When his father died, the finan-cial group that he inherited employed 600people as against 2700 today. Assets undermanagement and administration rocketedfrom CHF 20 billion to CHF 143 billion atend-2009.» Gratified by this phenomenalgrowth but reluctant to see his scheduletied up with overly frequent appointments,

UPBRINGINGShe was

steeped inbusiness at a

very young age.

PHO

TOS:

KEYS

TON

E,BE

AURE

GAR

D

PHO

TO:T

HIE

RRY

PARE

L

TIMELINETHE ROTHSCHILDDYNASTYThe family’s AshkenaziJewish German roots go backseven generations to18th-century Frankfurt.

DynastyIt all began with MeyerAmschel. Born in 1744in Frankfurt’s Jewishghetto, he made hisfortune as a coin andcurrency dealer. Theidea for «Rothschild»,the new name he chosefor himself, came fromthe red sign (rotesSchild in German) above his door.

Coat of arms The dynasty’s foundinglegend stems from the decision by MeyerAmschel to send his five sons to Europe’s fiveerstwhile economic capitals (Paris, London,Vienna, Naples, Frankfurt), thus creating oneof the world’s firstinternational network offinancial companies. Thisis symbolised by the fivearrows fanning out from acompass on theRothschild coat of arms.

AncestryAdolphe,Benjamin’sgreat-great-uncle, came toSwitzerland inthe late 19th century. Later his great-great-grandfather, Edmond, of the family’s Frenchlineage, would become a founding father ofIsrael. Benjamin is the son of Edmond andNadine. Now 47, he heads the most powerfulbranch of the Rothschild family.

EstateThe Château dePregny, in Geneva,was commissionedby the family in thelate 19th century.The Austrianempress Sissi, oneof many illustriousguests, dined hereon the eve of herassassination..

Benjamin de Rothschild needed someone toact as his deputy at board meetings. Hiswife was the ideal candidate.

Ariane de Rothschild surprises us atevery turn with her natural authority, heryouthfulness and her technical knowledge.She has an accent that one cannot put a fin-ger on but reflects a mix of her childhood inLatin America, her French-German ori-gins, her teen years in Africa and her studiesin the United States—a profile as global astoday’s Edmond de Rothschild Group.

A «NATURAL» NUMBER TWO«I met Benjamin through work,» the Baro-ness confides, «but there was no telling atthe outset that I would assume responsibi-lities within the Group.» She began by dea-ling with the group’s non-banking activi-ties (wine-making, hotels, art), developingthem and thus demonstrating her acute bu-siness sense. But very soon she and her hus-band were thinking in dynastic terms.«What matters to us most,» she explains,«is that the Group survives and remainsunder family control.» And so it was thather skills and experience thrust her natu-rally into the number two spot. Besides, shepoints out, «it would have been silly for meto go and work for another bank.»

Their roles are clearly distinguished: Ben-jamin de Rothschild maps out overall stra-tegy while Ariane de Rothschild sees it is im-plemented. «I’m much more available thanBenjamin, so people see me more than theysee him,» she says, adding that they discussimportant matters together. She has hisconfidence, but he always has the last word.She has considerable latitude and the kind ofglobal view that is needed so that all of theGroup entities reinforce each other. That’swhat the family motto— «Concordia,

Integritas, Industria»— means. Sheacknowledges being well aware of theprivileged position and obligations atta-ching to the role of controlling shareholder.

FOUR DAUGHTERS, A BLESSINGOne thing is certain as far as the future isconcerned: the family bank will one day bepresided over by a woman, i.e. by one ormore of the couple’s four daughters, nowaged 7 to 14. «I show them the way, andthat’s highly important,» says their motherin all modesty. The revolution is indeed un-der way. Four daughters are «a blessing»,claims Ariane de Rothschild, adding, «weare parting with the tradition that insistedonly males could perpetuate a dynasty.»The survival of the Rothschild name is notan issue either, since the daughters mayvery well decide to keep their maiden name.And Swiss law will allow future descen-dants to take their mother’s name.

At home «we have discussions with ourchildren», Ariane de Rothschild confides.«I tell them about my day at work. What Iwant to instil in them is a sense of responsi-bility.» For the Baroness nothing couldcome more naturally. «Like my daughtersnow,» she says, «I was steeped in businessthrough my parents.» One day the girlswill in any case have to keep an eye on theGroup. «They will have to accept that aninheritance comes with its benefits and itsdrawbacks,» observes their mother, whois grooming them for the purpose. In addi-tion to rearing them, she is handing downthe Rothschilds’ principles and values.These «may appear outmoded, but theyare essential. They include the work ethic,respect and, above all, an understandingthat being part of a dynasty also entailsdoing one’s duty.»

Ariane de Rothschild points out that it iseasier for four children to shoulder anenormous legacy than it is for one. Sum-ming up her view on money, which is thefamily’s view as well, she asserts that«being rich means being responsible. Youhave to set an example and work even har-der. And it takes a lot of work, not only tostay rich but also to make sure that the next

generation has the proper upbringing toperpetuate the family’s success. Actually,this all goes far beyond money; it’s heritagewe’re talking about.»

We ask Ariane de Rothschild what she, asa woman, contributes to the family busi-ness. «A different view of time,» she re-plies. «Sustainable development is a ga-thering force that will ultimately prevail.»

Being rich means being responsible.You have to set an exampleand work even harder.»ARIANE DE ROTHSCHLID

PHO

TOS:

DR,

ABEN

SUR/

EOL

SPECIAL ISSUE ON WOMEN PROFILE

BILAN 2 juin 2010 2 juin 2010 BILAN

The Rothschild dynasty has a new face and it belongs to awoman, Ariane de Rothschild, wife of Baron Benjamin deRothschild. A seasoned financier, the «banker’s wife»has become the lady banker of the Edmond de RothschildGroup since 2008, when she was elected to its mainboards of directors. Ariane de Rothschild, a French andGerman dual national, embodies a new role model of fe-male success. One thing is certain: the next head of thedynasty will be a woman as well, because Ariane and

Benjamin have four daughters. At present the young Baroness is showingthem the way through her active involvement in all the Group’s entities.

Banque Privée Edmond de Rothschild SA, the Group headquarters in theheart of Geneva’s banking district, features a plush atmosphere exuded byits rich tapestries, antique furniture and gourmet cooking. But it also sportsultra-modern works of art that were hand-picked by Baroness Benjamin deRothschild. She is the epitome of modernness, as illustrated by her office inrue de Hollande. Lovely, at 45 she has been Vice-Chairwoman of thegroup’s holding company since last November and has become her hus-band’s indispensable «right-hand lady». This is her first interview withSwiss journalists.

They met in 1993 when she, still ArianeLangner, was 28 years old. Trained as acurrency trader, she became a new breedof business leader. Reminiscing on herbrilliant and atypical career, she notes,«It’s unusual to see a husband and wife atthe head of a company, but that’s how weenvisage family capitalism.»

SHARED RESPONSIBILITIESThe Baroness admires her husband for histrailblazing spirit and for his confidence inher. «I’m lucky to have a husband who wan-ted to share his responsibilities with me,»she observes. Baron Benjamin presides overthe Group and helps devise its strategy. «Hehas an original approach to business,»

Ariane de Rothschild tells us. Interviewed byBilan six years ago, the most powerful of theRothschilds had shown the same straight-forward rapport with people and things thathis wife shows now. He is exceptionaly gif-ted, intuitive and quick-minded.

We ask her if that means he is misunders-tood by other bankers. «He should never beunderestimated,» Ariane de Rothschildcautions. «When his father died, the finan-cial group that he inherited employed 600people as against 2700 today. Assets undermanagement and administration rocketedfrom CHF 20 billion to CHF 143 billion atend-2009.» Gratified by this phenomenalgrowth but reluctant to see his scheduletied up with overly frequent appointments,

UPBRINGINGShe was

steeped inbusiness at a

very young age.

PHO

TOS:

KEYS

TON

E,BE

AURE

GAR

D

PHO

TO:T

HIE

RRY

PARE

L

TIMELINETHE ROTHSCHILDDYNASTYThe family’s AshkenaziJewish German roots go backseven generations to18th-century Frankfurt.

DynastyIt all began with MeyerAmschel. Born in 1744in Frankfurt’s Jewishghetto, he made hisfortune as a coin andcurrency dealer. Theidea for «Rothschild»,the new name he chosefor himself, came fromthe red sign (rotesSchild in German) above his door.

Coat of arms The dynasty’s foundinglegend stems from the decision by MeyerAmschel to send his five sons to Europe’s fiveerstwhile economic capitals (Paris, London,Vienna, Naples, Frankfurt), thus creating oneof the world’s firstinternational network offinancial companies. Thisis symbolised by the fivearrows fanning out from acompass on theRothschild coat of arms.

AncestryAdolphe,Benjamin’sgreat-great-uncle, came toSwitzerland inthe late 19th century. Later his great-great-grandfather, Edmond, of the family’s Frenchlineage, would become a founding father ofIsrael. Benjamin is the son of Edmond andNadine. Now 47, he heads the most powerfulbranch of the Rothschild family.

EstateThe Château dePregny, in Geneva,was commissionedby the family in thelate 19th century.The Austrianempress Sissi, oneof many illustriousguests, dined hereon the eve of herassassination..

Benjamin de Rothschild needed someone toact as his deputy at board meetings. Hiswife was the ideal candidate.

Ariane de Rothschild surprises us atevery turn with her natural authority, heryouthfulness and her technical knowledge.She has an accent that one cannot put a fin-ger on but reflects a mix of her childhood inLatin America, her French-German ori-gins, her teen years in Africa and her studiesin the United States—a profile as global astoday’s Edmond de Rothschild Group.

A «NATURAL» NUMBER TWO«I met Benjamin through work,» the Baro-ness confides, «but there was no telling atthe outset that I would assume responsibi-lities within the Group.» She began by dea-ling with the group’s non-banking activi-ties (wine-making, hotels, art), developingthem and thus demonstrating her acute bu-siness sense. But very soon she and her hus-band were thinking in dynastic terms.«What matters to us most,» she explains,«is that the Group survives and remainsunder family control.» And so it was thather skills and experience thrust her natu-rally into the number two spot. Besides, shepoints out, «it would have been silly for meto go and work for another bank.»

Their roles are clearly distinguished: Ben-jamin de Rothschild maps out overall stra-tegy while Ariane de Rothschild sees it is im-plemented. «I’m much more available thanBenjamin, so people see me more than theysee him,» she says, adding that they discussimportant matters together. She has hisconfidence, but he always has the last word.She has considerable latitude and the kind ofglobal view that is needed so that all of theGroup entities reinforce each other. That’swhat the family motto— «Concordia,

Integritas, Industria»— means. Sheacknowledges being well aware of theprivileged position and obligations atta-ching to the role of controlling shareholder.

FOUR DAUGHTERS, A BLESSINGOne thing is certain as far as the future isconcerned: the family bank will one day bepresided over by a woman, i.e. by one ormore of the couple’s four daughters, nowaged 7 to 14. «I show them the way, andthat’s highly important,» says their motherin all modesty. The revolution is indeed un-der way. Four daughters are «a blessing»,claims Ariane de Rothschild, adding, «weare parting with the tradition that insistedonly males could perpetuate a dynasty.»The survival of the Rothschild name is notan issue either, since the daughters mayvery well decide to keep their maiden name.And Swiss law will allow future descen-dants to take their mother’s name.

At home «we have discussions with ourchildren», Ariane de Rothschild confides.«I tell them about my day at work. What Iwant to instil in them is a sense of responsi-bility.» For the Baroness nothing couldcome more naturally. «Like my daughtersnow,» she says, «I was steeped in businessthrough my parents.» One day the girlswill in any case have to keep an eye on theGroup. «They will have to accept that aninheritance comes with its benefits and itsdrawbacks,» observes their mother, whois grooming them for the purpose. In addi-tion to rearing them, she is handing downthe Rothschilds’ principles and values.These «may appear outmoded, but theyare essential. They include the work ethic,respect and, above all, an understandingthat being part of a dynasty also entailsdoing one’s duty.»

Ariane de Rothschild points out that it iseasier for four children to shoulder anenormous legacy than it is for one. Sum-ming up her view on money, which is thefamily’s view as well, she asserts that«being rich means being responsible. Youhave to set an example and work even har-der. And it takes a lot of work, not only tostay rich but also to make sure that the next

generation has the proper upbringing toperpetuate the family’s success. Actually,this all goes far beyond money; it’s heritagewe’re talking about.»

We ask Ariane de Rothschild what she, asa woman, contributes to the family busi-ness. «A different view of time,» she re-plies. «Sustainable development is a ga-thering force that will ultimately prevail.»

Being rich means being responsible.You have to set an exampleand work even harder.»ARIANE DE ROTHSCHLID

PHO

TOS:

DR,

ABEN

SUR/

EOL

SPECIAL ISSUE ON WOMEN PROFILE

BILAN 2 juin 2010 2 juin 2010 BILAN

These principles find expressionin her day-to-day actions. The bankis currently drawing up a charter onsustainable development that willbe anchored in good corporate go-vernance, a broader offering of so-cially responsible financial pro-ducts, integration of environmentalawareness in working methods andinformation to staff on this subjectso that the message can be con-veyed to clients.

Ariane de Rothschild is critical ofthe practices observed in finance inrecent years. «The industry pro-moted values that I didn’t approveof,» she admonishes. «The idea ofeasy money had gained the upperhand.» She predicts that beyondthe issue of bonuses, future gene-rations will also show concern formoney’s social impact and for amore even balance between pri-vate and professional life. «Iwould like to believe that insteadof profit people will think in termsof profitability, which takes theinterest of others and the com-mon good into account.»

SWITZERLAND ISBEHIND WHEN IT COMESTO FEMALE VALUESThe financial crisis has fostered the emer-gence of new management models thatgive pride of place to the feminine dimen-sion. Ariane de Rothschild thinks this willlead to a more comprehensive, less black-and-white approach as well as to a longertime horizon. Translating words intodeeds, she is equally attentive to finance,art, wine and property. To her mind, ban-king fits seamlessly into the broader uni-verse. As she puts it, «I’d like the staff torealise that striving for excellence concernsall segments.» Such a view promotes grea-ter participation and a less pyramid-stylehierarchy within the Group companies.Ariane de Rothschild is moreover studyinghow participatory management can beused to bring out the best in the Group’steams. «I believe in the talent of the em-ployees within our organisation,» shesays.

The espousal of female values is pain-fully slow in Switzerland. «Women have avery hard time here,» she notes. In France,the idea of gender parity is gaining ground

thanks to talk of a 40% fe-male quota for boards of di-rectors. «It’s a good propo-sal,» contends Ariane deRothschild. «At some pointyou have to force your way in.To some extent, my husbandforced it for me.» She waslucky to grow up in a multi-cultural environment devoidof established role models.«My parents were very mo-dern,» she proclaims. «Theydidn’t entertain any set no-tions on social class, on reli-gion, on race or gender. Thatenabled me to go a longway—for example, to work intrading rooms, a world heavilydominated by men.

That, no doubt, is what un-derlies the aura of freedom ra-diating from Ariane de Roth-schild. There are no barriers.She laughs, enthuses and talksto us candidly. In short, she is awoman firmly ensconced in the21st century.

FAITH IN EUROPEThe young Baroness has equalesteem for the values of theRothschilds, which have stood

the test of time. «Our family has existed forseven generations, and has been able toweather all the intervening upheavals. OurBank is holding up well in the one upon usnow because it is focused on these values,»she maintains. In her view, even an end tobanking secrecy will detract nothing fromthe competence of Swiss banks. «Mana-ging the complexity of a family’s assets,regardless of tax issues, demands finelyhoned skills. This mustn’t be taken lightlyand isn’t an easy subject to deal with,» shepoints out. The stewardship of new fortu-nes will therefore remain a business whereSwiss banks can shine, though Ariane deRothschild admits that «going internatio-nal is a must.»

Her faith in Europe is strong, despite thetremendous difficulties encountered bythe euro area this year and the doubts theyhave given rise to. «I believe in Europe,»she asserts, «and I hope the euro will sur-vive. It’s all too important that the Unionremain strong in the presence of powerblocs like the United States and China.»

PHILANTHROPY

SPONSORING WITHA «RETURN ONCOMMITMENT»Ariane de Rothschild instils aline of thinking based on resultsCharity The family runs more than a do-zen foundations and supports over 30projects on themes ranging from educa-tion to medical research, art, the envi-ronment and social entrepreneurship. Inthis last area the Edmond and Benjaminde Rothschild Foundations have develo-ped a special dynamic, again under theleadership of Ariane de Rothschild.From mere sponsoring they movedto a more structured, entrepreneurialapproach that demands a return oncommitment rather than on investment.

ENDORSEMENTSThe family

supports over30 projects.

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SPECIAL ISSUE ON WOMEN PROFILE

BILAN 2 juin 2010

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What doesWealth

mean to you?

View of the park of the Château de Pregny with hundred-year old trees and rare plants, patiently nurtured by the Rothschild family since the 19th century.

- I try to manage it wisely, so that one day my children will inherit it.- Yes, of course, but wouldn’t you also like to broaden your perspective and benefi t from new insights?

Banque Privée Edmond de Rothschild will help you manage your wealth in a meaningful way.

BANQUE PRIVÉE EDMOND DE ROTHSCHILD S.A. / 18, RUE DE HESSE / CH 1204 GENEVA / TEL.: +41 58 818 91 11

www.edmond-de-rothschild.ch

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SPÉCIAL FEMMES❚ LA BANQUIÈRELA PLUS PUISSANTEDE SUISSE

❚ 10 CONSEILSPOUR BOOSTERSA CARRIÈREFEMMES LEADERS Quelle est la situation des femmes cadres?

17 pages de dossier, de modèles féminins et de pistespour monter dans l’organigramme de votre entreprise.

Ariane de Rothschilddevient numéro 2de la Banque PrivéeEdmond de Rothschild.

“Separate edition based on the specialissue of BILAN on PROMINENT WOMENpublished on 2 June 2010 (No.11)”