The Rolling Stones' money man steps down

The Rolling Stones' longtime financial advisor Prince Rupert zu Lowenstein has stepped down last week. The guardian.co.uk reported that the Stones issued a formal statement saying, "Prince Lowenstein is no longer taking care of the Rolling Stones day-to-day business but is currently retained on some aspects of their career."

Lowenstein, a descendant of Bavarian royalty, began advising the band in the early '70s after their break from manager Allen Klein, and played a pivotal role in straightening out their troublesome tax situation, which initially resulted in them becoming tax exiles in France in 1971.

In 2002 Keith Richards spoke about Lowenstein to Fortune saying that, "He is a great financial mind for the market. He plays that like I play guitar. He does things like a little oil well. And currency -- you know, Swiss francs in the morning, switch to marks in the afternoon, move to the yen, and by the end of the day, how many dollars? That's his financial genius, his wisdom. Little pieces of paper. As long as there's a smile on Rupert's face, I'm cool."

The Stones have not announced a replacement.
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