New Executive: Turning liability to asset;Undeterred by loss of key exec, chief pumps up business at Rothschild.(Gerald Rosenfeld of Rothschild North America Inc.)(Brief Article)

Crain's New York Business, May, 2000 by gandel, stephen

Three months after taking over as head of the American arm of the legendary Rothschild banking house, Gerald Rosenfeld faced what many would have regarded as a devastating setback. Wilbur Ross, the bank's highest-profile personality and Wall Street's best-known trader in the debts of bankrupt companies, announced in March that he was leaving to set up his own firm.

Far from panicking, Mr. Rosenfeld seized the departure as an opportunity. The former top deal-maker from Lazard Freres & Co. and Salomon Brothers hopes that without the long shadow of Mr. Ross, it will now be easier to focus on the main task-building a boutique corporate advisory business. At the same time, he plans to expand the bank's money management arm, which at present has $3 billion under...

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