Rothschild recruits former US diplomat

[emad]

The Times
By Caroline Merrell

FELIX ROHATYN, the banker widely credited with saving New York City from bankruptcy during the 1970s, is to join the board of Rothschild Continuation Holdings as a non-executive director.

Mr Rohatyn, a former American ambassador to France, runs Rohatyn Associates, an advisory firm in New York. His appointment comes as the merchant bank attempts to increase business from the US .

Mr Rohatyn has a wealth of contacts in the US, and most recently was acting for Comcast on its attempt to take over Disney. Comcast eventually withdrew its hostile bid.

Mr Rohatyn said: “At a time when banking consists more and more of giant publically owned global firms, Rothschild has maintained the tradition of independent, family-controlled investment banks. I look forward to assisting the bank in furthering their strategy.”
More:
http://www.timesonline.co.uk/newspaper/0,,172-1306885,00.html

[Wright Patman]

1. It is amusing to see bankers

being credited with saving some entity from bankruptcy.

I think the banker created the situation to begin with. It is a bit like breaking someone's legs, throwing them overboard and then "saving" them from drowning.

[Minstrel Boy]

2. "the tradition of independent, family-controlled investment banks"

Gee, it sounds almost quaint when he puts it like that.

I don't mess with none of them big, fancy corporate banks. I take all my business to Mom 'n Pop Rothschild.