Nat Rothschild rues 'terrible mistake' in tie-up with Bakries

 

The City financier Nat Rothschild has given a rare insight into his personal life, claiming he no longer drinks or smokes and goes to bed at 9.30pm.

"I lead a very boring life," said Mr Rothschild, 41, once known for his playboy image. He also described his tie-up with the Bakrie brothers as a "terrible mistake", saying he regretted taking advice from Ian Hannam, the former JP Morgan investment banker, in the lead-up to the creation of Bumi, the Indonesian coal miner.

"He said it was the best deal he had ever seen in his life," Mr Rothschild told Bloomberg.

He added: "I've had a lot of luck in my life. This time, I got unlucky." Mr Rothschild also said he was not planning on rushing to do another deal.

Bumi was created when the Bakrie brothers reversed some coal-mining assets into Mr Rothschild's cash shell. However, the co-founders quickly fell out amid allegations of financial irregularities at two Bakrie businesses in which Bumi owns a stake.

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