The Edmond de Rothschild Group navigated a precarious situation in late 2015, facing a multimillion-dollar settlement with the U.S. Department of Justice related to assisting wealthy Americans in concealing assets. Behind the scenes, Ariane de Rothschild, the group’s French chief, enlisted the help of Jeffrey Epstein and his legal associate, Kathy Ruemmler, to finalize the deal.
Emails reveal a direct exchange between de Rothschild and Epstein in December 2015, discussing the settlement amount. “45 mio [million]?” de Rothschild inquired. Epstein responded that, factoring in a $10 million fee for legal counsel and $25 million for himself, “I think you will find that… all less than 80 pretty good.” De Rothschild replied with a simple, “Deep thks for your amazing help.” Days later, the U.S. Department of Justice announced a $45 million settlement with Edmond de Rothschild.
Epstein’s significant – and financially rewarding – role in the DoJ settlement is just one example of the extensive connections he cultivated with de Rothschild, who had married into the Rothschild family and subsequently led a financial group with approximately SFr184 billion in assets (as of 2024) across its private banking and asset management divisions.
Over six years, from 2013 until shortly before his arrest in 2019, Epstein became a personal confidant and key business advisor to de Rothschild, granting him a privileged position within one of Europe’s most influential banking families. In 2014, Epstein’s assistant, Lesley Groff, noted, “I know Baroness Ariane de Rothschild is VERY important.”
Edmond de Rothschild occupies a unique position in Geneva, operating neither as a universal bank like UBS nor a niche boutique, but as a historically significant private banking house deeply rooted in the city’s wealth management ecosystem. The beginning of 2015 marked a crisis point for the bank, coinciding with Benjamin de Rothschild handing operational control to his wife, Ariane.
De Rothschild later stated to the Financial Times that her intention wasn’t to become chief executive, but rather to demonstrate the family’s commitment as shareholders during the DoJ probe and broader restructuring. However, she had discussed this move with Epstein in advance. In December 2014, weeks before the announcement, de Rothschild wrote, “Had a long talk with him [Benjamin]. He accepts: leaving all the subsidiaries’ boards and stay on Holding, Gva, paris, me as interim Ceo with a strategic committee.” Epstein responded succinctly, “Good. Next discussion estate plan.”
Benjamin de Rothschild remained chairman of the group until his death from a heart attack in 2021. But from January 2015, Ariane de Rothschild effectively took charge as president of the executive committee.
Following the DoJ settlement, de Rothschild spearheaded efforts to restructure the bank, consolidate her internal power, and initiated legal action against her husband’s cousin, David de Rothschild, regarding the use of the family name – all with Epstein providing counsel.
In 2023, de Rothschild characterized her relationship with Epstein to the Wall Street Journal as seeking his advice on “a couple of occasions.” However, hundreds of emails and messages now public through the DoJ reveal a more extensive connection, with de Rothschild sharing private information with Epstein.
“I’m freaking out and scared I won’t be up to the job,” de Rothschild wrote in February 2015, shortly after assuming leadership. Epstein responded in May of the same year, “You never have to hide from me, i can listen, and advise or just listen, there is nothign [sic] you can tell me that shocks me.”
The correspondence extended to gifts, visits, and dinners. They exchanged advice on lifestyle matters, contacts for her daughter’s university applications, vacation ideas, and details of their daily lives, ranging from practical matters – de Rothschild provided Epstein with contacts for upholstery and gardening services – to more unusual requests. “Do you know anybody in Cuba that can help me buy tobacco land?” de Rothschild asked Epstein in 2015.
She even forwarded private emails from Lord Jacob Rothschild, patriarch of the London branch of the family, during a sensitive dispute over the use of the family name for their banking businesses. These messages were signed “Love Jacob.” (Edmond de Rothschild operates independently from Rothschild & Co. In London and Paris. It took three years for the two groups to agree on using their full names.)
De Rothschild and Epstein also discussed concerns regarding Benjamin de Rothschild. In April 2015, Epstein suggested to de Rothschild that private investigators were looking into her husband’s alleged substance abuse issues and urged her to sever corporate ties. Benjamin de Rothschild remained in his position.
Edmond de Rothschild Group stated that de Rothschild’s interactions with Epstein were part of her normal duties at the bank. The group added that Epstein was “compensated for providing strategic consulting and support in the bank’s overall business development,” specifically in managing the dispute resolution process with the DoJ. Representatives for de Rothschild stated she had no knowledge of Epstein’s personal conduct or the allegations against him and unequivocally condemns his actions.
Epstein continued to advise de Rothschild through a period of turbulence for the private bank, including a leadership reshuffle, a police raid, and a €9 million fine from Luxembourg regulators related to money laundering failures in the Malaysian 1MDB scandal. “Shit is hitting the fan,” she wrote to him in 2016.
Epstein also proposed various strategies for reshaping the Swiss family group, including a potential approach from UBS, initial discussions with Rockefeller & Co in 2016 and Julius Baer in 2017, and suggestions for senior hires. (Julius Baer stated the talks brokered by Epstein were preliminary and quickly abandoned.)
He suggested recruiting Jes Staley, then CEO of Barclays and a frequent correspondent of Epstein, to the Swiss bank. In 2015, Epstein also pushed de Rothschild to permanently hire Kathy Ruemmler, then a partner at Latham & Watkins and a former White House counsel under the Obama administration. Neither Staley nor Ruemmler joined Edmond de Rothschild. Ruemmler is now general counsel at Goldman Sachs and declined to comment.
“It kills me to see you spending your amazing talents as part of the working class. I am sensitive to the family obligations. But you need HELP… over and over, I hear that the bank and its reputation, powerful, is you but as a one man band,” he wrote in 2017.
“I know you’re totally right and I know I have to find a way out of this upwards. Also way too fragile to have me only,” she replied.
Epstein also identified potential opportunities involving Apollo Global Management, with Epstein arranging a meeting at his Manhattan townhouse in January 2016. Edmond de Rothschild representatives characterized these meetings as part of Epstein’s strategic consulting work. Apollo acknowledged the meeting but stated no business resulted. Epstein appeared to pitch a corporate tax inversion involving Edmond de Rothschild, but this plan did not materialize.
“Ariane de Rothschild is fully committed to the unique and independent family model of the Edmond de Rothschild bank,” the company stated.
Epstein’s own legal issues occasionally surfaced in their communications. However, the exchanges largely portray a concerned advisor offering unique solutions and support to an executive in need of a trusted confidant. In 2015, Epstein consulted Ruemmler on how to offer de Rothschild moral support without appearing patronizing. Ruemmler advised, “Just be her friend. You are good at that.”
In another exchange that year, de Rothschild reflected on friendship. “I’ve had my share of disappointments too with friends who turned out to be shits,” she wrote to Epstein in 2015. “never mind.”
