The Rothschild banking dynasty is to appoint a non-family member as chief executive for the first time in its 212-year history, as the group seeks to adapt its management structure to the post-crisis climate. Nigel Higgins, a 27-year veteran of the company and co-head of the investment banking business for the past decade, will become chief executive of the family holding company in March, taking over from David de Rothschild, who will remain as executive chairman.

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