RAPAPORT... Gerald Rothschild passed away at the age of 86 this past weekend in Germany. Industry groups celebrated Rothschild's contributions to the industry, which he was part of for more than six decades. Rothschild started his business in the 1940s and served for many years as a senior executive at I. Hennig & Co., including a lengthy stint as managing director. He left the organization in 1989, but then returned to the industry at the age of 70, in 1995, when he set up his own brokerage house. Soon afterward, his company was successful in obtaining one of the first Diamond Trading Company (DTC) sights for the developing diamond industry in China.
Moti Ganz, president of the International Diamond Manufacturers Association (IDMA), said, "One cannot underestimate the role that Gerald has played in our industry since the late 1940s, and in particular in the establishment of diamond cutting centers in Israel, India and China. The part he played in establishing a steady rough diamond supply for industries that were just getting their feet on the ground was absolutely critical for their eventual success. His place in these centers' history books is absolutely assured.
"At an age that most of his colleagues would have been enjoying retirement, Gerald pushed on, still serving as an industry pioneer. We will remember him with admiration and thanks. We send our condolences to his loved ones," Ganz added.
From New York, Moshe Mosbacher, the president of the Diamond Dealers Club, paid his respects on behalf of the community. "Gerald Rothschild played a remarkable role in the worldwide development of our industry, having been instrumental in the growth of most of the major centers that were established following World War II," he said. "As DTC brokers, he and his colleagues were the people who went out into field, established relationships with up and coming companies, nurtured their development and obtained for them rough diamond supplies."
"For many of the veterans of our diamond community in New York, he was not only a broker, but also a friend," said Mosbacher.
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