Jacob Rothschild, a wealthy financier, patron of the arts, philanthropist with close ties to Israel and, who broke with his family’s fabled banking dynasty at a time of change in the world of high finance, has died. He was 87. At the time of his death, he was chairman of the Rothschild Foundation, a British charity.

In addition to his career as a high-powered financier, Mr. Rothschild played a role in Israel. He oversaw his family’s long-running philanthropic activities there as head of the Yad Hanadiv foundation, which sponsored the construction of Israel’s Parliament, Supreme Court and National Library. Waddesdon Manor, a chateau built by Baron Ferdinand de Rothschild, managed by Britain’s nonprofit National Trust, is now home to the Rothschild’s collection of an estimated 15,000 works of art and objects, and for Jacob Rothschild’s collection of Rothschild wines, mainly from the Bordeaux region of France.