British financier, politician and philanthropist Jacob Rothschild has died at the age of 87, his family said on Monday, AFP reports.

The son of Baron Victor Rothschild and a member of the British branch of the Rothschild family, he began his career at the family bank in 1963 before leaving to take control and lead Rothschild Investment Trust (later renamed RIT Capital Partners) until 2019.

He also founded the J Rothschild Assurance Group, now St James’s Place.

In a statement Monday, his family described him as a “savvy financier, champion of the arts and culture,” as well as a “passionate supporter of Israeli charities and Jewish culture” and an “enthusiastic environmentalist.”

Born in Berkshire (west London) in 1936 and educated at the elite Eton School and Oxford University, Jacob Rothschild supported a number of cultural institutions, including the National Gallery in London, and was a model for several artists, including British artist David Hockney.

He was a member of the House of Lords, the upper house of the British Parliament, from 1991 to 1999.

Jacob Rothschild has four children: Nathaniel Philip Rothschild, Hannah Rothschild, Emily Magda Rothschild and Beth Matilda Rothschild.