History of Rothschild Bank

In the late 18th century and early 19th century,Mayer Amschel Rothschildrose to become one of Europe's most powerful bankers in the principality ofHesse-Kassel(Hesse-Cassel) in theHoly Roman Empire. In pursuit of expansion, he appointed his sons to start banking operations in the various capitals of Europe, including sending his third son,Nathan Mayer Rothschild, toEngland. Nathan Mayer Rothschild first settled inManchester, where he established a business in finance and textile trading. He later moved to London, where he founded N M Rothschild & Sons in 1811, through which he made a fortune with his involvement in the government bonds market.According to historianNiall Ferguson, "For most of the nineteenth century, N M Rothschild was part of the biggest bank in the world which dominated the international bond market. For a contemporary equivalent, one has to imagine a merger betweenMerrill Lynch,Morgan Stanley,J P Morganand probablyGoldman Sachstoo as well, perhaps, as theInternational Monetary Fund, given the nineteenth-century Rothschild's role in stabilising the finances of numerous governments."

Early 19th centuryDuring the early part of the 19th century, the Rothschild London bank took a leading part in managing and financing the subsidies that the British government transferred to its allies during theNapoleonic Wars. Through the creation of a network of agents, couriers and shippers, the bank was able to provide funds to the armies of theDuke of WellingtoninPortugalandSpain. In 1818 the Rothschild bank arranged a 5million loan to thePrussiangovernment and the issuing ofbondsfor governmentloans. The providing of other innovative and complex financing for government projects formed a mainstay of the bank's business for the better part of the century. N M Rothschild & Sons' financial strength in the City of London became such that by 1825, the bank was able to supply enough coin to theBank of Englandto enable it to avert aliquiditycrisis. Like most firms with global operations in the 19th century, Rothschild had links to slavery, even though the firm was instrumental in abolishing it by providing a 15m gilt issue necessary to pass theSlavery Abolition Act of 1833.[2][3]Late 19th century[Nathan Mayer's eldest son,Lionel de Rothschild(18081879) succeeded him as head of the London branch. Under Lionel the bank financed the British government's 1875 purchase of a controlling interest in theSuez Canal. Lionel also began to invest in railways as his uncleJameshad been doing in France. In 1869, Lionel's son,Alfred de Rothschild(18421918), became adirector of the Bank of England, a post he held for 20 years. Alfred was one of those who represented the British Government at the 1892International Monetary ConferenceinBrussels.The Rothschild bank fundedCecil Rhodesin the development of theBritish South Africa CompanyandLeopold de Rothschild(18451917) administered Rhodes's estate after his death in 1902 and helped to set up theRhodes Scholarshipscheme atOxford University. In 1873de Rothschild Frresin France and N M Rothschild & Sons ofLondonjoined with other investors to acquire the Spanish government's money-losingRio Tintocopper mines. The new owners restructured the company and turned it into a profitable business. By 1905, the Rothschild interest in Rio Tinto amounted to more than 30 percent. In 1887, the French and English Rothschild banking houses loaned money to, and invested in, theDe Beersdiamond mines inSouth Africa, becoming its largest shareholders.

20th and 21st centuriesTheFirst World Warmarked a change of fortune and emphasis for Rothschild. After the War, the Rothschild banks began a steady transition towards advisory work and finance raising for commercial concerns, including theLondon Underground. In 1938, the Austrian Rothschilds interests were given to theNazis, bringing to an end more than a century at the heart of Central European banking. InFranceandAustria, the family was scattered for the duration of theSecond World War. After the war, the British and French banks committed themselves to further developing their new operation in theUnited States, which was eventually to become Rothschild Inc, and increased focus onmergers and acquisitionsandasset management.In the 20th century, Rothschild developed into a preeminent global organisation, which enhanced its ability to secure key advisory roles in some of the most important, complex and recognizable mergers and acquisitions. In the 1980s, Rothschild took a leading role in the international phenomenon ofprivatisation, where the company was involved from the beginning and developed a pioneering role which spread out to over thirty countries worldwide. In recent years, Rothschild advised on nearly a thousand completed mergers and acquisitions, having a cumulative value in excess of US$1trillion. Next to this, Rothschild also advised on some of the largest and most high-profile corporate restructurings around the world. Todaythe price of gold is still fixed, twice a day,[4]at 10.30 am and 3.00 pm at the premises of N M Rothschild by the world's main Bullion Houses:Deutsche Bank,HSBC,ScotiaMocattaandSociete Generale. Informally, the gold fixing provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world's markets.Every day at 1030 and 1500 local time, five representatives of the banks meet in a small room at Rothschild's London headquarters on St Swithin's Lane. In the centre is the chairperson, who is traditionally appointed by the Rothschild bank, although the bank itself has largely withdrawn from trading. The price of gold is fixed twice a day by five members of the London Bullion Association:Barclays Capital,Deutsche Bank,Scotiabank,HSBCandSociete Generale, and they conduct their twice-daily meeting over the telephone. Today this is mere financial necessity, but until 2004, it was also a century-old tradition as great as the ringing of the bell at theNew York Stock Exchange. The five distinguished representatives included a Rothschild, and they met in person in a panelled room at the London office of N M Rothschild & Sons. That ritual is now a thing of the past services.

Services of Bank

Private client lending

Private client lendingWe offer mortgages secured on residential property and other secured facilities to private clients. Mortgages are available for the purchase or refinancing of owner-occupied or investment property in the UK.Other lending and guarantees can be provided secured on investment portfolios. Facilities are tailored around each individual clients income and asset profile.The private client lending team provides facilities to private clients either as individuals or within a trust or company structure. The loans are provided by N M Rothschild & Sons or Rothschild Bank International Limited.

Rothschild Bank International LimitedRothschild Bank International Limited is based in Guernsey and offers a range of private client banking services including current accounts, credit cards, foreign exchange facilities, deposit taking and lending.Rothschild Bank International Limited specialises in providing a personal banking service to high net worth individuals based in the UK or elsewhere in the world and works closely with other parts of the Rothschild Group.Find out more about Rothschild Bank International Limited

Rothschild ReserveRothschild Reserve is a deposit-taking business that offers fixed rate deposits to high value savers in the UK who are seeking quality service. It offers a straightforward application process and a high level of customer service.Rothschild Reserve offers are available for a limited period and provide an attractive fixed rate of interest for depositors prepared to commit their funds for a fixed period of time. The minimum deposit is 20,000 and a variety of interest payment options are available.Find out more about Rothschild Reserve

2.Landing services

Rothschild offers a variety of securedlending facilities, available from a minimumloan amount of 500,000 (or currency equivalent).

These facilities include residential property mortgages, fixed term loans, cash-backed facilities and guarantees. The facilities are provided on a bespoke basis, designed around each client personal circumstances and needs. Residential property lending Investment portfolio lending Cash-backed facilities Guarantees Margined foreign exchange dealing MarginFX

3. M&R and Strategy Advisory

Rothschild is the financial adviser of choice to governments, corporations of all sizes, individuals and family firms throughout the world.

We have an unparalleled track record, consistently advising on more deals than any other adviser in our core markets.We regularly top M&A league tables around the world and field approximately 900 advisory bankers globally more than any other advisory firm. Our close connections to the market and the number of deals we are involved in help us understand our clients needs across many different situations. We are frequently called upon to help craft the strategies of our clients, who benefit from our global perspective and depth of industry understanding. Having assisted in formulating the strategy, our advisers have the hands-on skills to deliver the desired outcome. We are unique in that our senior bankers remain involved throughout the life cycle of a mandate, from pitch to completion. This partnership with clients explains our substantial repeat business and long-standing relationships. Some clients have turned to us for as long as 100 years. The integration of skills and knowledge is central to our advisory approach. M&A advisers work closely with specialist debt andrestructuring and equity advisory teams to deliver the best solution for our clients. Our industry sector specialists work on a global basis bringing indepth industry and regional knowledge to both domestic and cross-border M&A deals. We are recognised for our ability to deliver transactions covering multiple jurisdictions, cultures and parties. We also have a specialist team,known asTransaction R,who isdedicated to mid size and smaller transactions.

5. Financing Strategy AdvisoryRothschild has the worlds largest and most experienced independent financing advisory practice.

We have a global presence, with teams based throughout Europe, the United States of America, Asia Pacific and the Middle East.We advise many companies, governments and private equity houses throughout the world on financing strategy, and deliver creative solutions from a wide range of financing sources. Our independent advisory model enables us to objectively examine all possible structures and alternatives and select the best solution for our clients.Since January 2010 we have advised onmore thanUS$700 billionof financing advisory transactions globally. The large volume of deals we advise on combined with our constant dialogue with banks, investors, listing authorities and agencies, gives our teams a detailed knowledge of current trends and practices across all the active debt, equity and equity-linked markets.

a. Debt Advisory & Restructuring b. Equity Advisory

A. Debt Advisory & Restructuring

Rothschild has the most experienced independent debt advisory and restructuring practice in the world, with an unsurpassed volume of deals and expertise across the bank and bond markets.

We offer strategic capital structure advice to deliver the best possible restructuring and refinancing solutions, including dual track financings. We are committed to the highest standards of integrity, confidentiality and client service and we adopt a creative and resourceful approach to maximising value for all our clients.Rothschilds independence, and the large volume of deals we advise on, places us in a unique position in terms of market knowledge. We are regularly placed at or near the top of the restructuring league tables in terms of number of deals. In addition, we often help clients behind the scenes in roles undisclosed to the market.The professional experience of our teams is strengthened by their access to a wide range of pricing/leverage sources and by our constant dialogue with banks, investors and rating agencies. We have strong relationships with all the major players including key debt and equity finance sources, banks, bondholders, financial and legal advisers, and financial sponsors. B.Equity Advisory

Rothschild offers independent advice to clients on a wide range of equity capital raising transactions.With equity advisory teams on the ground in key markets around the world, we have an unparalleled global footprint and deeper resources than any other equity capital markets adviser.We use our expertise to deliver the best equity capital market outcomes for our clients, including better organised and supervised distribution, better pricing, more accurate market judgements, and improved terms with bookrunners.Our high volume of assignments enables us to gain a detailed understanding of investor behaviour, optimal deal structures, performance of key market participants and the latest market trends. As a result, our teams can provide clients with unique insights into the execution of recent offerings and the track record of bookrunners, and equip clients with the latest deal technology.As an independent adviser, we are not conflicted by the economic benefits that relationship banks and brokers might gain by pursuing one financing goal over another, or by equity-dealing loyalties and relationships with institutional and hedge fund investors. Our pure advisory business model enables us to focus solely on achieving the best possible result for our clients and minimising their execution risk.Our equity advisory team is staffed by market specialists who, in addition to their own expertise, can tap into our unrivalled experience and connections through our global network of sector experts.

6. Wealth Management & Trust

Our Wealth Management & Trustbusiness offers objective advice to wealthy individuals and families from around the world.

We help our clients navigate what is a complex financial landscape and focus on earning their trust and respect.We have a long-term perspective and ourobjectivity means our interests are aligned with those of our clients.We help structure and protect a broad range of assets and invest freely across global markets. Our goal is to preserve and enhance the real value of our clients wealth across market cycles.Clients from around the world are served byRothschild's Wealth Management & Trustbusiness, whileRothschild's Patrimoinebusinessis focused on clients in France.

7. Merchant Banking Rothschild Merchant Banking is the Private Equity and Private Debt investment arm of the Rothschild Group. We manage in excess of 3.4 billion through five investment strategies. Our capital originates from the Group, its senior executives, and Institutional and Private Clients from across the globe.Our core market is Europe, where we feel we have a distinctive edge in identifying superior equity and debt investment opportunities, typically in the mid-market space.We see ourselves as passionate investors with a long term horizon: we like to partner with successful management teams, entrepreneurs, and professional investors by providing strategic and financial support to help them develop their business over time. We see ourselves as active partners, ready to deploy Rothschilds skills and resources to our portfolio companies for the benefit of the investors in our funds.Our investment philosophy is deeply rooted in Rothschilds 200 year history of building trusted long-term relationships with corporate clients helping them grow their business and investing alongside them.

Others Services Drawing up communications strategies, as well as planning and implementing crisis communicationsProviding ongoing advice on all aspects of communicationsSupervising the media relations work in all core marketsActive and reactive media relations work throughout Switzerland, acting as an external media officeAdvising on internal communications

Awards

Rothschild is recognised as a leader in the provision of financial advisory services worldwide.

.Global Financial Advisory M&A advisory Debt advisory and restructuring Equity advisory

Wealth Management & TrustWealth Management & Trust

Institutional Asset Management Institutional Asset Management

Global Financial Advisory

M&A advisory

2013Mid-market Financial Adviser of the YearFinancial Times and Mergermarket European M&A AwardsCorporate Financier of the Yearunquote" MagazineMost Innovative Investment Bank for Sovereign AdvisoryThe Banker

2012Private Equity Financial Adviser of the YearFT/MergermarketMid market Financial Adviser of the YearFT/MergermarketFinancial Adviser of the YearFT/Mergermarket

2011Deal of the YearFinance Asia and Alpha Southeast AsiaMid-market Adviser of the YearFT& mergermarket Europe AwardsEuropean Independent Adviser of the YearFinancial NewsFinancial sponsors Coverage Team of the Year (Europe)Private Equity News

2010German M&A Adviser of the YearAcquisitions MonthlyBenelux M&A AdviserFT & mergermarketFrance M&A AdviserFT & mergermarketMid-Market Adviser of the YearFT & mergermarket

2009Cross-border Deal of the YearAcquisitions MonthlyBest Deal in ChinaAsset Triple A Asian AwardsBest M&A House in The PhillipinesAsset Triple A Asian AwardsEuropean M&A Deal of the YearThe Banker

Debt advisory and restructuring

2013EMEA Bond of the YearIFR AwardsMost Innovative Investment Bank for Sovereign AdvisoryThe BankerDebt Advisory and Restructuring Deals of the YearThe Banker

2012Rothschild adviser on three winning debt advisory and restructuring dealsIFRBest China dealFinanceAsiaMost innovative Investment Bank for RestructuringThe BankerMost Innovative Investment Bank for Sovereign AdvisoryThe BankerGlobal Restructuring Investment Bank of the YearGlobal M&A Network

2011BestRestructuring DealLatin FinanceMiddle East Restructuring Deal of the YearThe BankerEMEA Restructuring of the YearIFRTurnaround and Restructuring Adviser of the YearPrivate Equity News

2010Restructuring Adviser of the YearAcquisitions MonthlyMost Innovative in RestructuringThe BankerAsia Debt Restructuring Deal of the YearThe Banker

2009Corporate Finance and Overall WinnerDeal of the Year ACT AwardsDebt Advisory House of the YearAcquisitions MonthlyRestructuring Adviser of the YearAcquisitions AdvisoryBest LBO Advisory BankEuroweek

Equity advisory

2013EMEA Equity Issue of the YearIFR AwardsMost Innovative Investment Bank for Sovereign AdvisoryThe BankerEurope Equities Deal ofthe YearThe Banker

2012Rothschild adviser on winning equity awardIFRMost Innovative Investment Bank for Sovereign AdvisoryThe BankerPan European Corporate Finance Adviser of the YearReal Deals

2011Deal of the YearReal DealsAmericas Equity Deal of the YearThe Banker

2010EMEA Equity Issue of the YearIFRLatin American Equity Issue of the YearIFRFinancial Sponsors Coverage Team of the YearPrivate Equity NewsCorporate Finance Advisor of the YearPrivate Equity News

Wealth Management & Trust

2013UK Private Bank - UHNW teamWealthBriefing Awards 2013Best Wealth Manager for TrustsFinancial Times and Investors ChronicleWealth Management Awards 2013

2012Investment Team of the YearSTEP Private Client Awards

2011Woman of the YearCityWealth AwardsPrivate Banker of the YearSpears Wealth Management AwardsBest Fund Over 5 YearsLipper Fund AwardsImage & Reputation AwardPAM AwardsPrivate Bank of the YearSTEP Private Client Awards

2010Private Bank of the YearCityWealth AwardsInstitutional Asset Management

Institutional Asset Management

2013Xiphias fund - Best Multi-Strategy Aggressive Bias Fund of Hedge Funds over 5 yearsBanco Swiss Hedge Funds Awards 2013R Euro Crdit Best fundFund Awards Belgium, LEcho-De TijdDeutscher Fondspreis 2013, GermanyPremios de Fondos Expansion-Allfunds Bank, Spain28th Corbeilles Awards 2013Best Asset Management CompanyBest Equity Fund ManagerBest Fund Managerof PEA shareholder-savings funds2011R Opal Global Trading Fund - Best Specialist Fund of Hedge FundsWorld Finance Hedge Fund Awar

Deals of Rothschild Bank

Invest With a Rothschild - In IraqiOil

Whether there is war or peace in Iraq, whether the country holds together or falls apart, the oil will flow.If you want to take a flyer on your own little piece of the future of Iraqi oil, the stock to buy is probably GenelEnergy. The company has the highest production volumes and arguably the best oilfield assets in the Kurdish Region of Iraq. And its prospects are protected not just by the loyal peshmerga forces of the Kurdish Regional Government, but also by a robust safety net ofinternationalbusiness giants.

Genels big backers are banking scionNathaniel Rothschildand Turkish billionaireMehmet Emin Karamehmet. The companys CEO is Tony Hayward, the former head ofBPBP, who also happens to be chairman of commodities giant Glencore PLC. Genels CFO used to be the head of U.K. investment banking for Goldman Sachs.In an operational update released last week, Genel says that its net oil production has doubled in the past year to a current 84,000 barrels per day. Most of that comes from two world-class fields. Taq Taq, in which Genel has a 44% interest, is currently producing 113,000 bpd. While Tawke (25% Genel interest) is doing 116,000 bpd.

When these fields first came on line Genel and its partners had no option but to haul the oil to market; tanker trucks eventually carried 70,000 bpd of oil from Taq Taq over the border into Turkey, according to Genel. But now, with the completion of a pipeline between the Kurdish region and Turkeys port of Ceyhan, exports have been surging.

Rockefellers and Rothschilds Unite Two of the best-known business dynasties in Europe and the US will come together after Lord Jacob Rothschilds listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership.

RIT Capital Partners is to buy a 37 per cent stake in the Rockefellers wealth advisory and asset management group for an undisclosed sum, giving Lord Rothschilds London-listed trust a much sought-after foothold in the US.The transatlantic union brings together David Rockefeller, 96, and Lord Rothschild, 76two family patriarchs whose personal relationship spans five decades.

The transatlantic union brings together David Rockefeller, 96, and Lord Rothschild, 76two family patriarchs whose personal relationship spans five decades.The Rockefeller group traces its roots back to 1882 whenJohn D. Rockefellerestablished one of the worlds first family offices dedicated to investing his wealth. It has since developed into a provider of wealth and asset management services to other families, foundations and institutions. It is majority-owned by the 19th century oil magnates family and has $34 billion of assets under management.The partnership with RIT will focus on setting up investment funds, eyeing joint acquisitions of wealth and asset managers and granting each other non-executive directorships.RIT Capital Partners is minority-owned by Lord Rothschild and its net assets of 1.9 billion ($2.97 billion) are spread across global investments frompublic equitiesto government bonds and private equity.The deal stemmed from a meeting two years ago when Mr Rockefeller introduced Lord Rothschild to the US groups chief executive, Reuben Jeffery.In a follow-up meeting one year later at Lord Rothschilds office at Spencer House in London, the financier won Mr Jefferys blessing for opening talks to buy a stake in the Rockefeller group.He then launched long negotiations with Socit Gnrale Private Banking, which has owned the shareholding since 2008.The French banks wealth management arm has had several suitors for the minority stake estimated to be worth less than 100 million ($156.2 million) but Lord Rothschild was the only one supported by the Rockefellers.Sir Evelynat the time ran NM Rothschild, which rose to fame in 1815 when Nathan Meyer Rothschild made a fortune buying British government bonds in anticipation of Napoleons defeat at Waterloo.Baron David de Rothschild, chairman of the Rothschild Group, is currently bringing the UK-based investment bank under a joint roof with the French family operations.At the same time Lord Rothschild launched an investment partnership this March with the Franco-Swiss private bank Edmond de Rothschild Group, which is yet another separate branch of the sprawling banking dynasty.

Samsung to invest in Rothschild PEF

Samsung Securities and Samsung Life Insurance will invest tens of billions of won in a private equity fund (PEF) set up by Rothschild Merchant Banking, the private equity investment arm of Rothschild Group.

The securities affiliate of Samsung Group said that the British financial company will run the PEF, which will target undervalued European companies.

"We are in talks with Rothschild over investing in a PEF of Rothschild. We will invest with (Samsung) Life Insurance, and the size will be less than 100 billion won," said Ha Jung-seok, a spokesman of Samsung Securities.

This is the first time that Korean financial companies have invested in a PEF of the British financial group, if the deal is completed.

Ha, however, said that the company did not decide yet when and how much the company will invest in the company. Rothschild is contacting other investors to draw money into the fund, he said.

The Rothschild PEF will eye European companies in trouble and buy them out later after restructuring, Samsung said.

Samsung Securities and Rothschild have cooperated in several mergers and acquisition (M&A) deals, including Mahindra's acquisition of Ssangyong Motor in 2011 and NHN Japan's purchase of Japanese portal site Livedoor in 2010.

Rothschild Merchant Banking manages in excess of 3.4 billion euro, according to the company.

Its capital originates from Rothschild Group, and its senior executives, institutional and private clients come from across the globe. The buyout company's core market is Europe, where it has an edge in identifying superior equity and debt investment opportunities, typically in the mid-market area.

Rothschild is one of the world's largest independent financial advisory groups, employing approximately 2,800 people in 40 countries around the world.

Rothschild provides strategic, M&A, wealth management and fundraising advice and services to governments, companies and individuals worldwide. It is a global financial advisory group which is family controlled and independent. It has been at the center of the world's financial markets for more than 200 years.

BBM Investments and Edmond de Rothschild Group sign a strategic cooperation agreementBrazil, July 24 2013 - The Edmond de Rothschild Group, via its company Edmond de Rothschild, Paris, and BBM Investimentos have signed a strategic cooperation agreement that will lead to the development of opportunities in asset management.Asset management is a strategic area in which both groups excel and further aim to consistently develop over the coming years. Through this cooperation agreement, Edmond de Rothschild and BBM wish to increase their international business activities in order to bring more value to their clients and develop their exposure in new markets.Concerning their asset management activities, both groups have strong track records in terms of their fund performance, placing them in a highly respected position amongst their peers. The first step of this strategic alliance will be the launch of two Brazilian domiciled funds, feeders of the Edmond de Rothschild Europe Synergy fund, a European equity fund managed by Edmond de Rothschild Asset Management.The first fund will be dedicated to pension funds while the other is designed to respond to the needs of private banking clients.Edmond de Rothschild Group and BBM Investimentos aim to herewith help the Brazilian pension funds market understand the benefits of diversification and propose products perfectly responding to their needs. Brazil pension funds represent approximately USD 300 billion under management and are authorized to invest up to 10% of their assets in non-Brazilian assets while to date this capacity remains almost unused.Secondly, the two Groups will consider the creation of a fund of Brazilian equity which will be managed by BMM Investimentos and offered by Edmond de Rothschild Asset Management to international institutional clients across the world, excluding in the USA.About Edmond de Rothschild GroupThe Edmond de Rothschild Group is an independent, family-owned group that specializes in asset management and private banking. Founded in 1953, the Group has been chaired by Baron Benjamin de Rothschild since 1997. It has USD160 billion in assets under management, employs 2,900 people and has 30 offices worldwide. In addition to asset management and private banking, the Group is also actively present in corporate advisory services, private equity and fund administration.About BBM InvestimentosBBM Investimentos is an active fund manager based in Rio de Janeiro, Brazil. The institution offers competent fund management services, supported by the strength and tradition of BBM, Brazils oldest private financial group, founded in 1858. BBM Investimentos has R$ 2,7 billion in assets under management and employs 77 people. Managed funds are allocated to public and private fixed income, macro, equity and long & short funds, offering clients a wide array of specialized products.

Nat Rothschild to invest in Russian aluminium company Rusal

The blue-blooded investor, whose relationship with Mr Deripaska featured during a holiday incident in Corfu last summer, is thought to be one of four main investors to sign up for shares ahead of Rusals listing which is predicted to be one of the biggest of 2010.The others are Paulson & Co, the American hedge fund giant run by John Paulson; Robert Kuok, the Malaysian-Chinese tycoon; and Vnesheconombank, or VEB, the Russian state development bank. The investors will be guaranteed shares in the flotation in exchange for a pledge not to sell them for a number of months.Rusal plans to raise $2bn (1.25bn) from selling a 10pc stake with the company set for a primary listing in Hong Kong and a secondary listing in Paris on January 29.Rusal had hoped for a valuation of $30bn from the listing but reports suggested that this could be reduced to $17bn-$22bn next month.Mr Rothschild is thought to be buying a stake through NR Investments, a private vehicle. He has close ties with Mr Deripaska and has acted as his investment adviser.Their relationship came to light in media reports about a holiday meeting involving shadow chancellor George Osborne and Mr Deripaska aboard the Russian oligarchs yacht, Queen K, in Corfu in 2008.Rusal has planned the initial public offering in an attempt to reduce its $17bn debt burden. The companys debts doubled last year after it went on an acquisition spree shortly before commodity prices collapsed.Aluminium tumbled 36pc in 2008 on the London Metal Exchange.Regulators in Hong Kong approved Rusals listing application earlier this month but said the offer would not be open to retail investors becausethe companys debt levels made it high risk. Rusal is set to become the first Russian firm to list in Hong Kong.The pre-marketing is planned to start on Monday. The investor roadshow is set for January 12, starting in Hong Kong and moving through Singapore, the UK, Europe and the US.Bank of China International, BNP Paribas, Bank of America Merrill Lynch and Credit Suisse are bookrunners on the deal.

Legal disclaimerThe information contained in this website ("Information") has been prepared in accordance with Guernsey law. The Information may not satisfy the laws of any other country and the products and services described herein may not be available to residents of another country. The information is current at the date of publication but may be subject to change without notice. Interest rates quoted are for indication purposes only.The information contained on this site is not intended to constitute any offer to accept deposits or the invitation or solicitation of an offer in respect of deposits or any product or service provided by Rothschild Bank International Limited or any of its subsidiaries, affiliates or holding companies (together "Rothschild"). Material on this website is provided for information purposes only and cannot be construed as advice and must not be relied upon in connection with any decision to place any deposit with or to use any service provided by Rothschild. Rothschild does not give any warranty as to the accuracy, reliability, or completeness of the Information and accepts no responsibility for updating any part of the Information or for correcting any material error or omission which may become apparent after Information has been displayed on this website. You may be able to access websites of other companies or organisations via hypertext links contained in our website. We have no control over the contents of any website other than our own. We cannot accept any responsibility for the contents of any other website. Rothschild and its directors, employees and consultants do not accept any liability (whether arising in contract, or tort, or negligence or otherwise) for any error, omission or misrepresentation in relation to the Information or for any resulting loss, damage, cost or expense (whether direct, indirect, consequential or otherwise) suffered by the recipient of this Information or any other person.Any transaction entered into by Rothschild as a result of enquiries emanating from this website will be governed by Rothschild's standard terms and conditions and will be subject to Guernsey law and due diligence process.PrivacyYou acknowledge that any Information provided to Rothschild in connection with the use of this site may be used by Rothschild for its own purposes, and may be released by Rothschild to third parties as reasonably required. This includes, but is not limited to, where Rothschild is required to release Information as a result of law or regulatory order, or in connection with Rothschild's own analysis.

CopyrightThe copyright and all other rights in all of the material on this website are owned by the company listed on the web page or the material is included with the permission of the rights owner. You may copy material on this website for your own private or domestic use only. All other copying is prohibited. Rothschild and other company and brand names of its subsidiaries, affiliates and/or holding companies used in this website are copyright.Terms of useThis website is provided for your use "AS IS" without any warranties (whether express or implied) of any kind. As a result, Rothschild does not accept any ongoing obligation or responsibility in respect of any errors, omissions, interruptions or delays in service which may occur.This website has been published by Rothschild Bank International Limited which is licensed under The Banking Supervision (Bailiwick of Guernsey) Law 1994. The business address of Rothschild Bank International Limited is St Julian's Court, St Julian's Avenue, St Peter Port, Guernsey, GY1 3BP. Copies of the latest audited accounts of Rothschild Bank International Limited are available for inspection on request at its business address.As a Licensed Bank in Guernsey, Rothschild Bank International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the Scheme) established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance"). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request. The Scheme only applies to qualifying deposits, which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as, for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts, partnerships or charities. The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form. Compensation is limited to a maximum of 50,000 per individual claimant; in the case of a joint account each depositor would be entitled. Total Scheme compensation in any five year period is limited to 100 million. If claims exceed this cap, compensation would be reduced pro rata. The cap also means that compensation in respect of any one bank cannot exceed 100 million. The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.1. Organisation of the company before the saleSeveral stages are frequently necessary to make the company more attractive: Remove the companys cash assets. Halt unpro table activities or ones which are not part of the core business. Settle old disputes. Isolate the property assets that the entrepreneur wishes to keep. Rationalise costs. Reorganise the holding by creating a lead holding company. 2 Preparation of financial documents and company valuation supporting banker in the sale must know the company as if it were his own so as to be able to nego- tiate to the best of his ability with a potential investor.

There are a multitude of methods which can be classed in three groups:Asset method:this is a fairly static, accounting method which is suitable for highly capitalised, mature com- panies. It assumes a prior restatement of the annual accounts in order to calculate the companys revalued net assets.Free-cash-ow method:this is the method preferred by the profession because it takes the company s growth prospects into account. It requires substantial prepara- tory work and the justi cation of a business plan over several years. e business plan must be realistic and justi able to future purchasers.In practice, the cash- ow is discounted to the cost of debt and capital. Determining the cost of capital entails knowing various parameters such as the sector s Beta and the risk premium.multiples method:this method cannot be ignored. It involves identifying the mean multipliers observed in comparable markets and sectors These methods frequently give a signicantly different valuation. The banker establishes a range of values and the market price is determined within the negotiating arena.