Difference between revisions of "N M Rothschild & Sons"

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Copyright 2005 Knight Ridder/Tribune Business News
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{{NuclearNavbar}}
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Copyright 2005 Sunday Business (London) 
 
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Sunday Business (London)
 
  
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June 26, 2005, Sunday
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== Background==
  
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KR-ACC-NO: SU-NUCLEAR-BANK-20050626
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London-based bankers, N M Rothschild & Sons is the merchant banking arm of the Rothschild family's financial empire. The company's services include investment banking, treasury activities, asset management and private banking. {{ref|yah}} The bank is named after [[Nathan Mayer Rothschild]], who founded the London branch. It operates through four divisions: Banking and treasury, Investment banking, Private banking and trust and Asset management. It is a leading player in Mergers & Acquisitions ('M&A') work.
  
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LENGTH: 544 words
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It made profit before tax of £87m on turnover of £370m for the year ended 31 March 2006.
  
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HEADLINE: Rothschild champions nuclear joint venture
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== Leading the Push for "New Nuclear"==
  
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BYLINE: By Richard Orange
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In June 2005, the newspaper, ''Sunday Business'', reported how "N.M. Rothschild, the London merchant bank, is leading an initiative to finance, build and manage Britain's next generation of nuclear power stations. It plans to create a jointly-owned nuclear power company, provisionally named New Nuclear, that could raise funds and manage the nuclear-build programme.
  
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BODY:
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The paper reported how "The move highlights Rothschild's long-held ambitions to dominate the next phase of nuclear power development. The company was previously adviser to private nuclear generator British Energy for what would have been the Sizewell C power station. Rothschild in 1994 led attempts to raise 3.5bn (E5.3bn, $ 6.4bn) in funding for the plant, which was never built.
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N.M. Rothschild, the London merchant bank, is leading an initiative to finance, build and manage Britain's next generation of nuclear power stations. It plans to create a jointly-owned nuclear power company, provisionally named New Nuclear, that could raise funds and manage the nuclear-build programme.
 
  
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The move highlights Rothschild's long-held ambitions to dominate the next phase of nuclear power development. The company was previously adviser to private nuclear generator British Energy for what would have been the Sizewell C power station. Rothschild in 1994 led attempts to raise 3.5bn (E5.3bn, $ 6.4bn) in funding for the plant, which was never built.
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The Business has learned that Rothschild has drawn up the plan on behalf of its client, state nuclear group BNFL, which is looking at ways in which a UK nuclear revival could be funded by the private sector".
  
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The Business has learned that Rothschild has drawn up the plan on behalf of its client, state nuclear group BNFL, which is looking at ways in which a UK nuclear revival could be funded by the private sector.
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A source at one of the UK power utilities told the newspaper: "Rothschild's are very keen to get back into nuclear." {{ref|sun}}
  
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Rothschild's is proposing instead that a minimum of three of the UK's six utilities take stakes in New Nuclear. The three main contenders would be the UK arms of Eon, RWE and Electricite de France (EdF), whose European parent companies already operate nuclear power stations.
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In April 2006, it was reported that [[BNFL]] "had appointed NM Rothschild to advise on the impending £1bn sale of British Nuclear Group, its nuclear clean-up arm ....Rothschild's appointment comes after it successfully advised BNFL on the recent sale of Westinghouse, another subsidiary, which was sold to Japan's Toshiba for £2.8bn." {{ref|tel}}
  
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Scottish and Southern Energy, Scottish Power and Centrica could also take stakes, although they could settle for long-term power purchase agreements instead.
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== Securing the Future of Nuclear Power ==
  
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Nuclear power generators British Energy and BNFL's Magnox Generation subsidiary, on whose sites any new reactors would likely be built, would not lead the project.
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[[Roger Ewart-Smith]] is one of the speakers at the [[British Nuclear Energy Society]] and [[European Nuclear Society]] event "Securing the Future - The Role of Nuclear Energy" at the Queen Elizabeth II Conference Hall in March 2006, along with key nuclear advocates as [[James Lovelock]] and companies such as British Energy and Westinghouse. {{ref|nukes}}
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==People==
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*[[Robert Armstrong]], director, 1988.
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* [[Evelyn de Rothschild]]
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* [[Jay Hambro]] - CEO of Aricom
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* [[Norman Lamont]] - Member of the British Parliament (1972-97); Chancellor of the Exchequer (1990-93)
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* [[Edwin Leather]] - Member of the British Parliament (1950-64); Governor of Bermuda (1973-77)
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* [[David Neuberger]] - Lord of Appeal in Ordinary (2007-present)
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*[[Anthony Salz]]- Deputy Chairman (2010- present)
  
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"Rothschild's are very keen to get back into nuclear," said a source at one of the UK power utilities. After British Energy's financial crisis in 2002, the power generator has been ruled out as a contender for funding any new build.
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==Lobbying firms==
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*[[Bellenden Public Affairs]] - 2013
  
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Another source who has seen Rothschild's proposals said: "British Energy may have some sort of role in it, but it couldn't do it by itself. You are in a much better position if you are integrated in supply and retail."
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==External Links==
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*  [http://www.nmrothschild.com/home/ NM Rochschild's website]
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==Notes==
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#{{note|yah}} [http://biz.yahoo.com/ic/61/61537.html Yahoo Finance]
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# {{note|sun}} Richard Orange, "Rothschild Champions Nuclear Joint Venture", ''Sunday Business'', June 26, 2005; a version was printed in [http://scotlandonsunday.scotsman.com/business.cfm?id=702902005 ''Scotland on Sunday'']
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# {{note|nukes}} [http://www.topnux2006.org/pdf/TopNux-prel-progr.pdf Top Nux website]
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#{{Note|tel}} Sylvia Pfeifer, [http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/04/16/cnbng16.xml&menuId=242&sSheet=/money/2006/04/16/ixcitytop.html Rothschild ]
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The source added that clubbing together would also help fundraising. British Energy has no customers, making it vulnerable to fluctuations in the power prices. But in times of low power prices, the utilities can balance financial losses from their power generation with higher profits from retail.
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[[Category:Nuclear Spin]][[Category:Pro-nuclear city firms]][[Category:Banking and Finance Industry]]
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Brian Count, who retires as chief executive of RWE's UK arm, next week, said of the scheme: "It's credible; it has merit. The issue is one of spreading the political risks."
 
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He said that if all of the utilities had equal exposure to nuclear generation, they would all be affected equally by a collapse in the electricity price, meaning it would not hurt their competitive position.
 
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They would also be more willing to accept damaging changes in UK energy regulation that would be required to enable the private sector to build new nuclear plants, if they were set to benefit equally from additional supply.
 

Latest revision as of 07:33, 5 September 2014


Background

London-based bankers, N M Rothschild & Sons is the merchant banking arm of the Rothschild family's financial empire. The company's services include investment banking, treasury activities, asset management and private banking. [1] The bank is named after Nathan Mayer Rothschild, who founded the London branch. It operates through four divisions: Banking and treasury, Investment banking, Private banking and trust and Asset management. It is a leading player in Mergers & Acquisitions ('M&A') work.

It made profit before tax of £87m on turnover of £370m for the year ended 31 March 2006.

Leading the Push for "New Nuclear"

In June 2005, the newspaper, Sunday Business, reported how "N.M. Rothschild, the London merchant bank, is leading an initiative to finance, build and manage Britain's next generation of nuclear power stations. It plans to create a jointly-owned nuclear power company, provisionally named New Nuclear, that could raise funds and manage the nuclear-build programme.

The paper reported how "The move highlights Rothschild's long-held ambitions to dominate the next phase of nuclear power development. The company was previously adviser to private nuclear generator British Energy for what would have been the Sizewell C power station. Rothschild in 1994 led attempts to raise 3.5bn (E5.3bn, $ 6.4bn) in funding for the plant, which was never built.

The Business has learned that Rothschild has drawn up the plan on behalf of its client, state nuclear group BNFL, which is looking at ways in which a UK nuclear revival could be funded by the private sector".

A source at one of the UK power utilities told the newspaper: "Rothschild's are very keen to get back into nuclear." [2]

In April 2006, it was reported that BNFL "had appointed NM Rothschild to advise on the impending £1bn sale of British Nuclear Group, its nuclear clean-up arm ....Rothschild's appointment comes after it successfully advised BNFL on the recent sale of Westinghouse, another subsidiary, which was sold to Japan's Toshiba for £2.8bn." [3]

Securing the Future of Nuclear Power

Roger Ewart-Smith is one of the speakers at the British Nuclear Energy Society and European Nuclear Society event "Securing the Future - The Role of Nuclear Energy" at the Queen Elizabeth II Conference Hall in March 2006, along with key nuclear advocates as James Lovelock and companies such as British Energy and Westinghouse. [4]

People

Lobbying firms

External Links

Notes

  1. ^ Yahoo Finance
  2. ^ Richard Orange, "Rothschild Champions Nuclear Joint Venture", Sunday Business, June 26, 2005; a version was printed in Scotland on Sunday
  3. ^ Top Nux website
  4. ^ Sylvia Pfeifer, Rothschild
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