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| image: The Economist |
In the late seventies, Ross began twenty-four years at the New York office of Rothschild Inc., where he ran the bankruptcy-restructuring advisory practice. In the eighties, after quickly expanding the reach of Resorts International to Atlantic City, Donald Trump found himself in financial trouble as the real estate market in New York City bottomed-out. His three casinos in Atlantic City were under threat from lenders. It was with the assistance and assurance of Ross, then senior managing director of Rothschild Inc., that Trump was allowed to keep the casinos and rebuild his businesses ultimately engineering one of the greatest turnaround in US business history.[7] In the late nineties, Ross started a $200 million fund at Rothschild to invest in distressed assets. As the U.S. bubble began to burst, he decided he wanted to invest more and advise less. On April Fools’ Day 2000, the 62-year-old banker raised $450 million to plunge into fallen companies.[8]
So, when Trump branding began as an outgrowth of the casino bankruptcy scene the branch to a drowning man was reached out by a Rotchschild/Ross hand. This link.