Stonehage Fleming Appoints Trustee Director in Jersey Family Office

26 Mar 2024


Stonehage Fleming Appoints Trustee Director in Jersey Family Office


Jersey, 26 March 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Chris Cameron as Trustee Director in the Jersey Family Office division.

Chris has 25 years' experience in trust and company administration, and joins Stonehage Fleming from Crestbridge Family Office Services where he was a Client Services Director. Prior to this, Chris spent 16 years at HSBC Private Bank (HSBC Trustee Channel Islands Limited), most recently as Senior Trust Manager.

Chris will work closely with clients, advisors, co-trustees, and various divisions and business units within the Stonehage Fleming Group. He will act on the boards of corporate trustee and corporate director companies operating across the Group’s jurisdictions. Chris is based in Jersey and will report directly to Richard Stride, Partner and Head of Family Office Jersey. The role is effective immediately.

Stonehage Fleming’s Jersey Family Office division also announces the appointment of Jacqui Newton as an Associate Director and Josh Lagadu as an Associate. Both roles are effective immediately.

Richard Stride, Partner and Head of Jersey Family Office, commented: “It is a pleasure to welcome Chris to Stonehage Fleming. The current market environment demands agility and strategic foresight and his leadership in managing multi-jurisdictional client entities, diverse asset portfolios, and driving regulatory compliance efforts will strengthen our existing capabilities.

“His appointment alongside Jacqui and Josh’s underscore our ongoing commitment to growing and developing our Family Office offering here in Jersey, to ensure that we offer best in class services to the world’s leading families and wealth creators. I look forward to working with him closely.”

Chris Cameron added: “Stonehage Fleming has been privileged to support many of its clients in managing and protecting wealth over several decades, and often across several geographies. I am delighted to join the Group and look forward to working with clients to navigate the complexities of realising their vision for wealth succession.”


Email Copy Link

Stonehage Fleming Appoints Trustee Director In Switzerland

06 Mar 2024


Stonehage Fleming Appoints Trustee Director In Switzerland


6 March, 2024 – Switzerland – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Isabel Villalba Schmid as Trustee Director in Neuchâtel, Switzerland.

Isabel joins Stonehage Fleming’s Fiduciary team from ACE Trustees SA, where she was Vice President – Wealth Planner. Prior to this Isabel was Head of Client Operations (Switzerland) of Geneva Management Group and Senior Trust Manager at Rothschild & Co. She has also held roles at Cititrust and Ferrier Lullin & Cie.

Isabel will act in a management and leadership role for trusts and companies managed out of Switzerland. She will also develop new business opportunities for the Group.

Isabel is based in Neuchatel and reports into Philippe de Salis, Head of Fiduciary Switzerland. Her role is effective immediately.

Philippe de Salis, Head of Fiduciary Switzerland, Stonehage Fleming, commented on Isabel’s hire: “It is a pleasure to welcome Isabel to our expert Fiduciary team in Switzerland. Her extensive experience will make her a valuable addition to the team as we support families’ intergenerational succession planning. We look forward to working with her closely, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Isabel added “I am delighted to join Stonehage Fleming, which offers an exceptionally broad range of expertise and global capability. I look forward to working with the team in Switzerland and alongside the wider Group divisions, to continue to deliver Stonehage Fleming’s substantial range of cross-jurisdictional fiduciary services.”


Email Copy Link

Stonehage Fleming Receives FINMA Operating Licence

06 Feb 2024


Stonehage Fleming Receives FINMA Operating Licence


6 February, 2024 – Switzerland - Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces that Stonehage Fleming Investment Management (Suisse) AG (“SFIMCH”) has received the new operating licence required by the Swiss Financial Market Supervisory Authority (FINMA).

In 2020, new financial regulations were introduced by FINMA for asset management companies and trustees requiring all to obtain a new licence in order to operate. The licence was granted to SFIMCH on December 21 2023, following a rigorous application process.

Andreas Knecht, Partner and CEO, Investments Switzerland – Stonehage Fleming, commented: “Receiving this operating licence from FINMA is a ‘seal of quality’ for the future. We welcome the new regulation to improve comparability and equivalence with other financial markets. Switzerland, as a centre for wealth management, will become increasingly more attractive and as a result will profit from an enhanced reputation in the global financial arena.”

Stonehage Fleming Investment Management is adviser to many of the world's leading families and wealth creators and has teams based in London, Zurich, Liechtenstein, Cape Town, Johannesburg and Jersey.


Email Copy Link

Stonehage Fleming Appoints Head of Corporate Services Continental Europe

22 Jan 2024


Stonehage Fleming Appoints Head of Corporate Services Continental Europe


Luxembourg, 22 January 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, announces the appointment of Raphael Eber as Head of Corporate Services, Continental Europe. His appointment marks the Group’s wider objective to bolster Luxembourg as a central hub for its Corporate and Fund Services offering.

Raphael will be responsible for the Corporate and Fund Services delivered from Stonehage Fleming’s Luxembourg and Malta offices and will spearhead strategic initiatives aligning with Stonehage Fleming's growth objectives in Continental Europe, specifically in both countries.

With over 25 years’ experience Raphael joins Stonehage Fleming from BDO Luxembourg where he was a Partner and Private Equity Leader. He was in charge of CF Fund Services, BDO’s Central Administration for alternative investment funds and hedge funds. Prior to that, Raphael was Deputy Head of Corporate Solutions at Apex Group Ltd.

Raphael will be based in Luxembourg and will report to Willem Badenhorst, Group Head of Corporate Services. The appointment is effective immediately.

Willem Badenhorst, Group Head of Corporate Services, commented on the appointment: “We are thrilled to welcome Raphael as Head of Corporate Services for Continental Europe. As the regulatory environment becomes ever more complex, many clients turn to us to guide them through the legislative intricacies, and to assist them at every stage of their structures’ lifecycle. Luxembourg is a key onshore market for our Corporate and Fund Services clients, being the second largest fund jurisdiction globally. Raphael’s leadership will be instrumental in enhancing our capabilities and fostering long-term growth for Stonehage Fleming in Continental Europe. I look forward to working with him.”

Raphael Eber added: “I am delighted to join Stonehage Fleming. It offers a bespoke service designed to help families and wealth creators navigate the world’s increasingly complicated and regulatory environment. I’m looking forward to supporting the Group in its growth objectives in Continental Europe.

Stonehage Fleming's Corporate Services division provides corporate and fund solutions and operates from five offices (Luxembourg, Malta, Jersey, South Africa and Mauritius).


Email Copy Link


Stonehage Fleming Appoints Trustee Director in Jersey Family Office


Jersey, 26 March 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Chris Cameron as Trustee Director in the Jersey Family Office division.

Chris has 25 years' experience in trust and company administration, and joins Stonehage Fleming from Crestbridge Family Office Services where he was a Client Services Director. Prior to this, Chris spent 16 years at HSBC Private Bank (HSBC Trustee Channel Islands Limited), most recently as Senior Trust Manager.

Chris will work closely with clients, advisors, co-trustees, and various divisions and business units within the Stonehage Fleming Group. He will act on the boards of corporate trustee and corporate director companies operating across the Group’s jurisdictions. Chris is based in Jersey and will report directly to Richard Stride, Partner and Head of Family Office Jersey. The role is effective immediately.

Stonehage Fleming’s Jersey Family Office division also announces the appointment of Jacqui Newton as an Associate Director and Josh Lagadu as an Associate. Both roles are effective immediately.

Richard Stride, Partner and Head of Jersey Family Office, commented: “It is a pleasure to welcome Chris to Stonehage Fleming. The current market environment demands agility and strategic foresight and his leadership in managing multi-jurisdictional client entities, diverse asset portfolios, and driving regulatory compliance efforts will strengthen our existing capabilities.

“His appointment alongside Jacqui and Josh’s underscore our ongoing commitment to growing and developing our Family Office offering here in Jersey, to ensure that we offer best in class services to the world’s leading families and wealth creators. I look forward to working with him closely.”

Chris Cameron added: “Stonehage Fleming has been privileged to support many of its clients in managing and protecting wealth over several decades, and often across several geographies. I am delighted to join the Group and look forward to working with clients to navigate the complexities of realising their vision for wealth succession.”


Email Copy Link


Stonehage Fleming Appoints Trustee Director In Switzerland


6 March, 2024 – Switzerland – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Isabel Villalba Schmid as Trustee Director in Neuchâtel, Switzerland.

Isabel joins Stonehage Fleming’s Fiduciary team from ACE Trustees SA, where she was Vice President – Wealth Planner. Prior to this Isabel was Head of Client Operations (Switzerland) of Geneva Management Group and Senior Trust Manager at Rothschild & Co. She has also held roles at Cititrust and Ferrier Lullin & Cie.

Isabel will act in a management and leadership role for trusts and companies managed out of Switzerland. She will also develop new business opportunities for the Group.

Isabel is based in Neuchatel and reports into Philippe de Salis, Head of Fiduciary Switzerland. Her role is effective immediately.

Philippe de Salis, Head of Fiduciary Switzerland, Stonehage Fleming, commented on Isabel’s hire: “It is a pleasure to welcome Isabel to our expert Fiduciary team in Switzerland. Her extensive experience will make her a valuable addition to the team as we support families’ intergenerational succession planning. We look forward to working with her closely, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Isabel added “I am delighted to join Stonehage Fleming, which offers an exceptionally broad range of expertise and global capability. I look forward to working with the team in Switzerland and alongside the wider Group divisions, to continue to deliver Stonehage Fleming’s substantial range of cross-jurisdictional fiduciary services.”


Email Copy Link


Stonehage Fleming Receives FINMA Operating Licence


6 February, 2024 – Switzerland - Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces that Stonehage Fleming Investment Management (Suisse) AG (“SFIMCH”) has received the new operating licence required by the Swiss Financial Market Supervisory Authority (FINMA).

In 2020, new financial regulations were introduced by FINMA for asset management companies and trustees requiring all to obtain a new licence in order to operate. The licence was granted to SFIMCH on December 21 2023, following a rigorous application process.

Andreas Knecht, Partner and CEO, Investments Switzerland – Stonehage Fleming, commented: “Receiving this operating licence from FINMA is a ‘seal of quality’ for the future. We welcome the new regulation to improve comparability and equivalence with other financial markets. Switzerland, as a centre for wealth management, will become increasingly more attractive and as a result will profit from an enhanced reputation in the global financial arena.”

Stonehage Fleming Investment Management is adviser to many of the world's leading families and wealth creators and has teams based in London, Zurich, Liechtenstein, Cape Town, Johannesburg and Jersey.


Email Copy Link


Stonehage Fleming Appoints Head of Corporate Services Continental Europe


Luxembourg, 22 January 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, announces the appointment of Raphael Eber as Head of Corporate Services, Continental Europe. His appointment marks the Group’s wider objective to bolster Luxembourg as a central hub for its Corporate and Fund Services offering.

Raphael will be responsible for the Corporate and Fund Services delivered from Stonehage Fleming’s Luxembourg and Malta offices and will spearhead strategic initiatives aligning with Stonehage Fleming's growth objectives in Continental Europe, specifically in both countries.

With over 25 years’ experience Raphael joins Stonehage Fleming from BDO Luxembourg where he was a Partner and Private Equity Leader. He was in charge of CF Fund Services, BDO’s Central Administration for alternative investment funds and hedge funds. Prior to that, Raphael was Deputy Head of Corporate Solutions at Apex Group Ltd.

Raphael will be based in Luxembourg and will report to Willem Badenhorst, Group Head of Corporate Services. The appointment is effective immediately.

Willem Badenhorst, Group Head of Corporate Services, commented on the appointment: “We are thrilled to welcome Raphael as Head of Corporate Services for Continental Europe. As the regulatory environment becomes ever more complex, many clients turn to us to guide them through the legislative intricacies, and to assist them at every stage of their structures’ lifecycle. Luxembourg is a key onshore market for our Corporate and Fund Services clients, being the second largest fund jurisdiction globally. Raphael’s leadership will be instrumental in enhancing our capabilities and fostering long-term growth for Stonehage Fleming in Continental Europe. I look forward to working with him.”

Raphael Eber added: “I am delighted to join Stonehage Fleming. It offers a bespoke service designed to help families and wealth creators navigate the world’s increasingly complicated and regulatory environment. I’m looking forward to supporting the Group in its growth objectives in Continental Europe.

Stonehage Fleming's Corporate Services division provides corporate and fund solutions and operates from five offices (Luxembourg, Malta, Jersey, South Africa and Mauritius).


Email Copy Link

Stonehage Fleming Appoints Head Of Family Office Guernsey

20 Nov 2023


Stonehage Fleming Appoints Head Of Family Office Guernsey


Guernsey, 20 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Gillian Ralston Jordan as Head of Family Office in Guernsey.

With over three decades of experience in both law and the financial services industry, Gillian joins Stonehage Fleming from JTC PLC where she was Group Director. Prior to this Gillian was Director and Head of Fiduciary Services at Duncan Lawrie Private Banking, and Director at Abacus Trust Company. Gillian has also held roles at IFG International as a Client Services Director, and at Ernst & Young Trust Corporation (latterly RBTT) as Managing Director. Gillian is a practicing Solicitor regulated by the Law Society of Scotland. She is a member of the Society of Trust and Estate Practitioners and a Notary Public in Scotland.

Gillian will have overall responsibility for managing the Family Office activities in Guernsey, working closely with clients, third parties, and the wider Stonehage Fleming Group, as well as developing new business. Gillian will be a member of the Family Office Executive Committee.

Gillian is based in Guernsey and will report directly to Greg Harris, Partner and Head of Family Office division for all British Islands (UK, Channel Islands and Isle of Man.) The role is effective from 13 November 2023.

Greg Harris, Partner and Head of Family Office, British Islands, Stonehage Fleming, commented on Gillian's appointment: “It is a pleasure to welcome Gillian to Stonehage Fleming as Head of Family Office in Guernsey. Gillian is a seasoned and accomplished professional who will bring invaluable insight and experience to our existing highly talented team in Guernsey. We look forward to welcoming her to the Group, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Gillian Ralston Jordan added, “I am delighted to join Stonehage Fleming and lead the Family Office activities in Guernsey. I look forward to working closely with the team to continue to deliver Stonehage Fleming’s best in class services and advice for our clients and to contributing to the continued growth and success of the organisation.”

NOTES TO EDITORS

Stonehage Fleming is one of the world’s leading independently owned multi- family offices and the largest in Europe, Middle East and Africa (EMEA), as measured by its breadth of services, geographic reach and by assets under management, advice and administration.


Stonehage Fleming provides a range of services from long-term strategic planning and investments to day-to-day advice and administration to the world’s leading families and wealth creators. The Group advises on over GBP122bn (USD150bn) of assets and includes an investment business with more than GBP18bn (USD21bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 1000 people in 14 locations around the world. Find out more at: www.stonehagefleming.com

Statistics as at September 2023


Email Copy Link

Investment Outcomes And Political Risk Are Biggest Challenges To Preservation Of Wealth, According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report

13 Nov 2023


Investment Outcomes And Political Risk Are Biggest Challenges To Preservation Of Wealth, According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report


  • Very Few Respondents Take A Formal Approach To Reputation Management With Nearly 90% Not Keeping Track Of Their Digital Footprint
  • More Than 85% Of Respondents Consider Philanthropy A Central Part Of Their Purpose And Values But Only 22% Have A Formal Strategy For Grant-Making

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, reveals the results of its survey ‘Four Pillars of Capital: Managing risk in an age of upheaval’.

Drawing on the responses from nearly 300 families and advisers, the research assessed the impact of sequential global events, including the COVID pandemic, the war in Ukraine, slowing economic growth and accelerating inflation on the long-term sustainability of family wealth.

Stonehage Fleming surveyed respondents on themes including risks to sustaining family wealth, investment attitudes and the growth of values-driven investing, reputation management in a digital age, philanthropy, governance, leadership and the Next Generation; and the purpose of wealth.

THE NEW RISK ENVIRONMENT

The survey identifies a major shift in the biggest risks that families and wealth creators perceive to their long-term prosperity. For the first time since Stonehage Fleming began its proprietary research series in 2013, the investment environment and political risk make up two of the top three threats to the preservation of wealth. When asked how families identify and mitigate risks to their long-term prosperity and goals, only 20% have a formal regular process.

Giuseppe Ciucci, Executive Chairman and Chief Executive Officer at Stonehage Fleming said: “Our Four Pillars of Capital research has taught us that our clients like to have insight into what their peers are thinking and how they have addressed – or are addressing – the challenges and opportunities that they have in common. Observations from our 2023 report have reinforced the importance of preparing the Next Generation to assume the responsibilities of wealth and employing a simple and rigorous process for risk appraisal. Other important themes included the vital importance of understanding your digital profile in today’s world, the potential rewards of involving the Next Generation in philanthropy and the need for clear and effective communication between family members.”

REPUTATION MANAGEMENT IN the DIGITAL AGE

The challenge of managing reputational risk has increased over the past decade especially with the public launches of AI-enabled text, audio and image generation services producing “deepfakes”. However, the survey revealed that 43% of respondents have no formal process for managing the reputation of their family or its members and only 13% of respondents say they actively track their family’s digital footprint.

Guy Hudson, Partner and Head of Group Marketing and Communications said: “We know families value their reputations and so we are surprised by the data showing how few families are conscious of the digital risks they may encounter. In an age of increased transparency, it is almost impossible to be proudly anonymous. With the complexity that social media brings, it is harder than ever to control the narrative. A digital health check is a sensible element of a comprehensive risk management strategy.”

Philanthropy: the power of partnership

Although 86% of families consider philanthropy a central part of their purpose and values, 64% have no pre-determined budget and make regular donations based on an informal process. Only 7% of respondents reported that they have a formal process for agreeing and appraising the contribution they make to their communities and wider society.

When questioned on how families communicate their contribution to the community and wider society, 64% of respondents prefer to remain discreet. However, when questioned on the extent to which philanthropic activities should be publicised, 51% believed that a lack of awareness of the societal contribution made by families and wealth creators could pose a threat to wealth.

For the first time, the 2023 survey asked specifically about the involvement of the Next Generation in families’ philanthropy activities, and strikingly in 49% of all respondents’ families, the Next Generation are not substantially involved.

Governance, Leadership and the next generation

Nearly half (46%) of respondents do not have a formal leadership structure and the ways in which families select their leaders remain diverse. The one clear trend is a decline in preference for primogeniture. Only 5% of families – and none at all in the US or Europe – now believe this traditional method of succession to be a good fit with the demands of modern intergenerational wealth management (a decline from 20% in 2018).

In most regions, a substantial minority of families employ leaders from outside the family. While in the Americas, a majority (52%) take this route. When asked how families believe leaders should be selected in the future, over 40% of respondents indicated either by committee, or the wider family.

More than two thirds of families are taking proactive steps to give the Next Generation a more prominent role in the family, with this trend being more advanced in Africa and the Americas than in the UK and Europe. However, when equipping the Next Generation to understand the broad responsibilities of wealth nearly half (46%) report that preparation is informal – they rely on the family environment and the conventional education they provide. Only 16% of families encourage their children to attend programmes and bespoke education.

Purpose: the foundation of successful family strategy

Only 36% of families currently have an agreed purpose for their wealth; however, for a significant number of respondents, it is the acceleration of political and economic volatility since the 2018 Four Pillars of Capital report that has crystalised their thinking. Four common themes in respondents’ philosophies are maintenance of the family legacy, care of family members, achieving philanthropic goals and fulfilling religious responsibilities.

Matthew Fleming, Partner and Head of Family Governance & Succession, at Stonehage Fleming said: “Purpose is the foundation of a family’s decision-making framework and in turn underpins the Four Pillars of Capital. The real challenge is communication: ensuring that purpose is articulated, shared and understood – first and foremost within the family itself. We believe passionately that families who take the time to reflect on their purpose and engage the Next Generation in both defining and living it, give themselves the best chance of intergenerational success.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.


Email Copy Link

Over Two Thirds Of Affluent Families Incorporate Values-Based Investing In The Management Of Wealth According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report

13 Nov 2023


Over Two Thirds Of Affluent Families Incorporate Values-Based Investing In The Management Of Wealth According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report


  • Yet less than half of all families (49%) actually have an explicit, agreed set of values
  • The number of families applying exclusions to their investment strategy doubled to 43% since 2018
  • Listed equities, private equity and real estate remain the most favoured asset classes with little appetite for radical engineering of portfolios over the coming five years

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, reveals that over two thirds (71%) of affluent families incorporate non-financial values in the management of their family wealth.

This finding is contained in Stonehage Fleming’s report, Four Pillars of Capital 2023: Managing Risk in an Age of Upheaval, which is based on proprietary research conducted with nearly 300 members of different families, wealth creators and their advisers (see ‘Methodology’).

While 16% of respondents orient their investment strategy using financial returns alone, those who deliberately invest their entire portfolio to reflect their non-financial values has nearly tripled to 13%, from 5% in the 2018 Four Pillars of Capital report.

The manner in which these non-financial values are incorporated, however, remains relatively unstructured for the majority of respondents. One reason for this disconnect may be that many families have not explicitly decided which non-financial values they wish to target, with under half (49%) having an agreed, explicit set of values.

The survey identifies a significant increase in the proportion of families who choose strategies involving a more active approach to stock-picking or investor manager engagement. The proportion of respondents invested in explicitly ESG or Socially Responsible Investment (SRI) products has more than tripled to 45% (2018: 14%), and those adopting an impact investing approach has nearly tripled to 22% (2018: 8%). At the same time, excluding investments deemed unsuitable from families’ portfolios via negative screening has become more popular, nearly doubling to 43% (2018: 24%).

The survey also reveals families’ views on high-level asset allocation remain substantially unchanged since 2018. Listed equities, private equity and real estate remain the favoured assets classes, with little appetite for radical engineering of portfolios over the coming five years.

Graham Wainer, CEO Investment Management at Stonehage Fleming, said: “Despite the economic landscape undergoing a series of tectonic shifts we are encouraged that the 2023 survey finds there are no sizeable swings in preferred asset classes. We certainly see the benefits for investors of patient capital in holding less liquid positions in private market investments to complement exposure to mainstream public markets. We have long emphasised the importance of viewing investment returns over a cycle and despite the challenge in a period of higher inflation, we believe that targeting capital growth in real terms is the correct strategy for investors new to investment markets as well as those with multi-generational characteristics.”

Mona Shah, Head of Sustainable Investments at Stonehage Fleming said: “Over the last decade there has been nothing short of a revolution in the integration of values beyond financial return alone into the design and implementation of investment strategies. We have seen two important trends emerging over the past decade. Firstly, an increased desire amongst families to define their non-financial values explicitly and to integrate them not only into the management of their wealth, but into their businesses, philanthropic activities, and general conduct, and secondly, an increased commoditisation of sustainable investment offerings from the investment management industry.”

Commenting on bridging the gap between families’ ambitions to increase their values-based investing and the often commoditised offerings available Mona added: “Experience suggests a simple three-step framework. Define and agree your family's non-financial values, choose how to incorporate these into your wealth management strategy, and ensure that impact is measured, and the outcomes are monitored.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.


Email Copy Link

Stonehage Fleming Appoints Director In Zurich Family Office

02 Oct 2023


Stonehage Fleming Appoints Director In Zurich Family Office


Zurich, 02 October 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announces the appointment of Taymour Mortagui as a Director and Senior Client Relationship Manager in Stonehage Fleming’s Zurich Family Office.

With over 10 years experience, Taymour joins Stonehage Fleming from Covario AG where he was Managing Director and Head of the Middle East. Prior to this, Taymour was a Relationship Manager at Arab Bank Switzerland, and an Assistant Relationship Manager at Bank Am Belevue AG (Investment Partners).

Working closely with Family Office colleagues across the Group, Taymour will focus on driving Stonehage Fleming’s expansion further into the Middle East North Africa market.

Taymour is based in Zurich and will report directly to Caroline Bauer, Head of Family Office Zurich. Taymour’s role is newly created and effective immediately.

Mark McMullen, Partner & CEO of Stonehage Fleming’s Family Office division, commented on the appointment: “We are thrilled to announce the hire of Taymour into our Family Office team in Zurich. Taymour brings invaluable experience and knowledge, in particular of the landscape of the Middle East. His practical experience and relationships will enable us to further expand our presence across the MENA market, as we continue to support some of the world’s leading families and wealth creators across generations and geographies.”

Taymour Mortagui added: “I am delighted to join Stonehage Fleming. I look forward to working alongside their esteemed Family Office team in Zurich, as we continue to build Stonehage Fleming’s business in continental Europe. I am thrilled to further establish the firm, with the help of my colleagues across our global offices, in the rapidly developing MENA market.


Email Copy Link


Stonehage Fleming Appoints Head Of Family Office Guernsey


Guernsey, 20 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Gillian Ralston Jordan as Head of Family Office in Guernsey.

With over three decades of experience in both law and the financial services industry, Gillian joins Stonehage Fleming from JTC PLC where she was Group Director. Prior to this Gillian was Director and Head of Fiduciary Services at Duncan Lawrie Private Banking, and Director at Abacus Trust Company. Gillian has also held roles at IFG International as a Client Services Director, and at Ernst & Young Trust Corporation (latterly RBTT) as Managing Director. Gillian is a practicing Solicitor regulated by the Law Society of Scotland. She is a member of the Society of Trust and Estate Practitioners and a Notary Public in Scotland.

Gillian will have overall responsibility for managing the Family Office activities in Guernsey, working closely with clients, third parties, and the wider Stonehage Fleming Group, as well as developing new business. Gillian will be a member of the Family Office Executive Committee.

Gillian is based in Guernsey and will report directly to Greg Harris, Partner and Head of Family Office division for all British Islands (UK, Channel Islands and Isle of Man.) The role is effective from 13 November 2023.

Greg Harris, Partner and Head of Family Office, British Islands, Stonehage Fleming, commented on Gillian's appointment: “It is a pleasure to welcome Gillian to Stonehage Fleming as Head of Family Office in Guernsey. Gillian is a seasoned and accomplished professional who will bring invaluable insight and experience to our existing highly talented team in Guernsey. We look forward to welcoming her to the Group, as we continue our commitment to being the distinguished independent adviser to the world’s leading families and wealth creators.”

Gillian Ralston Jordan added, “I am delighted to join Stonehage Fleming and lead the Family Office activities in Guernsey. I look forward to working closely with the team to continue to deliver Stonehage Fleming’s best in class services and advice for our clients and to contributing to the continued growth and success of the organisation.”

NOTES TO EDITORS

Stonehage Fleming is one of the world’s leading independently owned multi- family offices and the largest in Europe, Middle East and Africa (EMEA), as measured by its breadth of services, geographic reach and by assets under management, advice and administration.


Stonehage Fleming provides a range of services from long-term strategic planning and investments to day-to-day advice and administration to the world’s leading families and wealth creators. The Group advises on over GBP122bn (USD150bn) of assets and includes an investment business with more than GBP18bn (USD21bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 1000 people in 14 locations around the world. Find out more at: www.stonehagefleming.com

Statistics as at September 2023


Email Copy Link


Investment Outcomes And Political Risk Are Biggest Challenges To Preservation Of Wealth, According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report


  • Very Few Respondents Take A Formal Approach To Reputation Management With Nearly 90% Not Keeping Track Of Their Digital Footprint
  • More Than 85% Of Respondents Consider Philanthropy A Central Part Of Their Purpose And Values But Only 22% Have A Formal Strategy For Grant-Making

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, reveals the results of its survey ‘Four Pillars of Capital: Managing risk in an age of upheaval’.

Drawing on the responses from nearly 300 families and advisers, the research assessed the impact of sequential global events, including the COVID pandemic, the war in Ukraine, slowing economic growth and accelerating inflation on the long-term sustainability of family wealth.

Stonehage Fleming surveyed respondents on themes including risks to sustaining family wealth, investment attitudes and the growth of values-driven investing, reputation management in a digital age, philanthropy, governance, leadership and the Next Generation; and the purpose of wealth.

THE NEW RISK ENVIRONMENT

The survey identifies a major shift in the biggest risks that families and wealth creators perceive to their long-term prosperity. For the first time since Stonehage Fleming began its proprietary research series in 2013, the investment environment and political risk make up two of the top three threats to the preservation of wealth. When asked how families identify and mitigate risks to their long-term prosperity and goals, only 20% have a formal regular process.

Giuseppe Ciucci, Executive Chairman and Chief Executive Officer at Stonehage Fleming said: “Our Four Pillars of Capital research has taught us that our clients like to have insight into what their peers are thinking and how they have addressed – or are addressing – the challenges and opportunities that they have in common. Observations from our 2023 report have reinforced the importance of preparing the Next Generation to assume the responsibilities of wealth and employing a simple and rigorous process for risk appraisal. Other important themes included the vital importance of understanding your digital profile in today’s world, the potential rewards of involving the Next Generation in philanthropy and the need for clear and effective communication between family members.”

REPUTATION MANAGEMENT IN the DIGITAL AGE

The challenge of managing reputational risk has increased over the past decade especially with the public launches of AI-enabled text, audio and image generation services producing “deepfakes”. However, the survey revealed that 43% of respondents have no formal process for managing the reputation of their family or its members and only 13% of respondents say they actively track their family’s digital footprint.

Guy Hudson, Partner and Head of Group Marketing and Communications said: “We know families value their reputations and so we are surprised by the data showing how few families are conscious of the digital risks they may encounter. In an age of increased transparency, it is almost impossible to be proudly anonymous. With the complexity that social media brings, it is harder than ever to control the narrative. A digital health check is a sensible element of a comprehensive risk management strategy.”

Philanthropy: the power of partnership

Although 86% of families consider philanthropy a central part of their purpose and values, 64% have no pre-determined budget and make regular donations based on an informal process. Only 7% of respondents reported that they have a formal process for agreeing and appraising the contribution they make to their communities and wider society.

When questioned on how families communicate their contribution to the community and wider society, 64% of respondents prefer to remain discreet. However, when questioned on the extent to which philanthropic activities should be publicised, 51% believed that a lack of awareness of the societal contribution made by families and wealth creators could pose a threat to wealth.

For the first time, the 2023 survey asked specifically about the involvement of the Next Generation in families’ philanthropy activities, and strikingly in 49% of all respondents’ families, the Next Generation are not substantially involved.

Governance, Leadership and the next generation

Nearly half (46%) of respondents do not have a formal leadership structure and the ways in which families select their leaders remain diverse. The one clear trend is a decline in preference for primogeniture. Only 5% of families – and none at all in the US or Europe – now believe this traditional method of succession to be a good fit with the demands of modern intergenerational wealth management (a decline from 20% in 2018).

In most regions, a substantial minority of families employ leaders from outside the family. While in the Americas, a majority (52%) take this route. When asked how families believe leaders should be selected in the future, over 40% of respondents indicated either by committee, or the wider family.

More than two thirds of families are taking proactive steps to give the Next Generation a more prominent role in the family, with this trend being more advanced in Africa and the Americas than in the UK and Europe. However, when equipping the Next Generation to understand the broad responsibilities of wealth nearly half (46%) report that preparation is informal – they rely on the family environment and the conventional education they provide. Only 16% of families encourage their children to attend programmes and bespoke education.

Purpose: the foundation of successful family strategy

Only 36% of families currently have an agreed purpose for their wealth; however, for a significant number of respondents, it is the acceleration of political and economic volatility since the 2018 Four Pillars of Capital report that has crystalised their thinking. Four common themes in respondents’ philosophies are maintenance of the family legacy, care of family members, achieving philanthropic goals and fulfilling religious responsibilities.

Matthew Fleming, Partner and Head of Family Governance & Succession, at Stonehage Fleming said: “Purpose is the foundation of a family’s decision-making framework and in turn underpins the Four Pillars of Capital. The real challenge is communication: ensuring that purpose is articulated, shared and understood – first and foremost within the family itself. We believe passionately that families who take the time to reflect on their purpose and engage the Next Generation in both defining and living it, give themselves the best chance of intergenerational success.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.


Email Copy Link


Over Two Thirds Of Affluent Families Incorporate Values-Based Investing In The Management Of Wealth According To Stonehage Fleming’s 2023 Four Pillars Of Capital Report


  • Yet less than half of all families (49%) actually have an explicit, agreed set of values
  • The number of families applying exclusions to their investment strategy doubled to 43% since 2018
  • Listed equities, private equity and real estate remain the most favoured asset classes with little appetite for radical engineering of portfolios over the coming five years

London, 13 November 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international family offices, reveals that over two thirds (71%) of affluent families incorporate non-financial values in the management of their family wealth.

This finding is contained in Stonehage Fleming’s report, Four Pillars of Capital 2023: Managing Risk in an Age of Upheaval, which is based on proprietary research conducted with nearly 300 members of different families, wealth creators and their advisers (see ‘Methodology’).

While 16% of respondents orient their investment strategy using financial returns alone, those who deliberately invest their entire portfolio to reflect their non-financial values has nearly tripled to 13%, from 5% in the 2018 Four Pillars of Capital report.

The manner in which these non-financial values are incorporated, however, remains relatively unstructured for the majority of respondents. One reason for this disconnect may be that many families have not explicitly decided which non-financial values they wish to target, with under half (49%) having an agreed, explicit set of values.

The survey identifies a significant increase in the proportion of families who choose strategies involving a more active approach to stock-picking or investor manager engagement. The proportion of respondents invested in explicitly ESG or Socially Responsible Investment (SRI) products has more than tripled to 45% (2018: 14%), and those adopting an impact investing approach has nearly tripled to 22% (2018: 8%). At the same time, excluding investments deemed unsuitable from families’ portfolios via negative screening has become more popular, nearly doubling to 43% (2018: 24%).

The survey also reveals families’ views on high-level asset allocation remain substantially unchanged since 2018. Listed equities, private equity and real estate remain the favoured assets classes, with little appetite for radical engineering of portfolios over the coming five years.

Graham Wainer, CEO Investment Management at Stonehage Fleming, said: “Despite the economic landscape undergoing a series of tectonic shifts we are encouraged that the 2023 survey finds there are no sizeable swings in preferred asset classes. We certainly see the benefits for investors of patient capital in holding less liquid positions in private market investments to complement exposure to mainstream public markets. We have long emphasised the importance of viewing investment returns over a cycle and despite the challenge in a period of higher inflation, we believe that targeting capital growth in real terms is the correct strategy for investors new to investment markets as well as those with multi-generational characteristics.”

Mona Shah, Head of Sustainable Investments at Stonehage Fleming said: “Over the last decade there has been nothing short of a revolution in the integration of values beyond financial return alone into the design and implementation of investment strategies. We have seen two important trends emerging over the past decade. Firstly, an increased desire amongst families to define their non-financial values explicitly and to integrate them not only into the management of their wealth, but into their businesses, philanthropic activities, and general conduct, and secondly, an increased commoditisation of sustainable investment offerings from the investment management industry.”

Commenting on bridging the gap between families’ ambitions to increase their values-based investing and the often commoditised offerings available Mona added: “Experience suggests a simple three-step framework. Define and agree your family's non-financial values, choose how to incorporate these into your wealth management strategy, and ensure that impact is measured, and the outcomes are monitored.”

ENDS

METHODOLOGY

This paper was drawn from a 34-question online survey, completed by nearly 300 contributors from families and advisers ranging from 18 to over 80, across Europe, the Middle East and Africa, and the Americas in addition to the solid base of participants in the UK and its sovereign territories. The survey was distributed on 20 April 2023 and closed on 20 July 2023. In addition, wide ranging in-depth face-to-face interviews were conducted with 15 ultra-high-net-worth (UHNW) families and advisers, discussing their long-term plans, attitudes and concerns.


Email Copy Link


Stonehage Fleming Appoints Director In Zurich Family Office


Zurich, 02 October 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announces the appointment of Taymour Mortagui as a Director and Senior Client Relationship Manager in Stonehage Fleming’s Zurich Family Office.

With over 10 years experience, Taymour joins Stonehage Fleming from Covario AG where he was Managing Director and Head of the Middle East. Prior to this, Taymour was a Relationship Manager at Arab Bank Switzerland, and an Assistant Relationship Manager at Bank Am Belevue AG (Investment Partners).

Working closely with Family Office colleagues across the Group, Taymour will focus on driving Stonehage Fleming’s expansion further into the Middle East North Africa market.

Taymour is based in Zurich and will report directly to Caroline Bauer, Head of Family Office Zurich. Taymour’s role is newly created and effective immediately.

Mark McMullen, Partner & CEO of Stonehage Fleming’s Family Office division, commented on the appointment: “We are thrilled to announce the hire of Taymour into our Family Office team in Zurich. Taymour brings invaluable experience and knowledge, in particular of the landscape of the Middle East. His practical experience and relationships will enable us to further expand our presence across the MENA market, as we continue to support some of the world’s leading families and wealth creators across generations and geographies.”

Taymour Mortagui added: “I am delighted to join Stonehage Fleming. I look forward to working alongside their esteemed Family Office team in Zurich, as we continue to build Stonehage Fleming’s business in continental Europe. I am thrilled to further establish the firm, with the help of my colleagues across our global offices, in the rapidly developing MENA market.


Email Copy Link

Stonehage Fleming Holds Final Close on Private Capital Annual Vintage Programme Raising in Excess of $130 Million for the 2023 Fund

04 Sep 2023


Stonehage Fleming Holds Final Close on Private Capital Annual Vintage Programme Raising in Excess of $130 Million for the 2023 Fund


London, 4th September 2023 – Stonehage Fleming, (“Stonehage Fleming” or “the Group”) , one of the world’s leading independently owned multi-family offices, today announces the final close of the Stonehage Fleming Global Private Capital Fund 2023 in excess of $130 million.

The Global Private Capital 2023 Fund is the latest in a series of annual funds for Stonehage Fleming’s innovative private capital programme. Each annual fund invests in six to eight best-in-class managers that will provide underlying exposure to between 70 and 120 high quality portfolio companies.

The Private Capital Annual Vintage Programme seeks to offer its clients access to top-performing segments of the private equity market through a concentrated portfolio, together with accelerated deployment of capital and minimal administrative burden for investors.

The programme’s disciplined portfolio construction aims to lower the risk profile for its clients compared with many of the alternatives. By deploying 50% of the fund at inception, the programme captures the benefits of the private markets from day one and avoids the initial negative returns and cash flows typically experienced by private equity investors in the early days of their portfolio.

Stonehage Fleming has committed a total of over $1.5 billion to private capital markets since 2001. The 2023 Fund will continue the team’s primary investment strategy of focusing on the small and mid-market segments globally.

Graham Wainer, CEO and Head of Investments, Stonehage Fleming Investment Management, said:

“Private capital is a key part of the Stonehage Fleming investment proposition and we are extremely pleased by the strong support from both new and existing investors for this strategy. The successful close of the Stonehage Fleming Private Capital Fund 2023 is a testament to the experienced team and an endorsement for the unique benefits of our approach.”

Mat Powley, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said:

“We are thrilled with the final closing of our eighth annual vintage fund and our largest fund to date. We continue to believe that our strategy of building high conviction portfolios of strong performing and hard to access private capital funds, established through our years of experience and long-standing relationships, will benefit our clients and their families for years to come.”

Meiping Yap, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said:

“Since its inception, our Private Capital Annual Vintage Programme has recorded double-digit growth in fund size with the 2023 Fund being invested on behalf of over 90 families. We are excited to continue delivering strong returns for our investors as we work towards building a self-funding portfolio of high-quality private equity investments across North America, Europe and Asia.”

All investments risk the loss of capital. Investments in private equity funds involve a high degree of risk and are only suitable for investors who fully understand and are willing to assume the risks involved. This fund is not regulated or authorised by the Financial Conduct Authority and nor are the underlying funds. No guarantee or representation is made that the funds will achieve their investment objective. Unquoted investments may be difficult to sell at a reasonable price because there will not be an active market in those investments and, in some circumstances, they may be difficult to sell at any price. This may inhibit sales in the event of an investor wishing to liquidate part or all of their investment.


Email Copy Link

Stonehage Fleming announces series of promotions in the UK

24 Jul 2023


Stonehage Fleming announces series of promotions in the UK


Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announced a series of promotions across the Group’s offerings in the London office.

In the Family Office division Jack Henderson and Anna Wetherell have been promoted to Associate Director, Francesca Maule and Eleanor Sowerbutts to Manager and Edward Durgan to Senior Associate.

Within Investment Management, James Cook has been promoted to Director, Mark Leshnick, Archie Burt and Miki Caves to Associate Director, and Ross Elliott to Manager.

Robyn Bramwell has been promoted to Director in Corporate, Legal and Tax Advisory.

In Group Services, Peter Rogerson has been promoted to Director, Hannah Berry to Associate Director, with Claire Main and Oliver Taylor promoted to Senior Associate.

Carol Mote, Global Head of Human Resources, said: “It is a pleasure to announce these well-deserved promotions across multiple service offerings. Our colleagues are pivotal to the growth and success of our business as we continue to demonstrate our commitment to being the pre-eminent independent adviser to the world’s leading families and wealth creators.”

ENDS


Email Copy Link

Stonehage Fleming Announces Promotions Across Europe

24 Jul 2023


Stonehage Fleming Announces Promotions Across Europe


Luxembourg/Switzerland, 24 July 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announced a series of promotions across the Group’s offices throughout Europe.

Hélie De Cornois, who heads up the Family Office division in Luxembourg, has been promoted to Partner. He has extensive experience in the estate planning industry and advises ultra-high net worth private clients and investors on a range of domestic and international tax and estate planning matters. Prior to joining Stonehage Fleming in 2021, Hélie was Head of Estate Planning & International Patrimonial Services at Banque Degroof Petercam in Luxembourg.

Also in Luxembourg, Emmanuel Cruz has been promoted to Associate Director in Group Services and Lambertus Brand to Senior Associate in the Corporate Services division.

Within the Family Office division in Switzerland, Kailin Gratix has been promoted to Manager and Blerta Ademi, Deniz Ozler and Sebastien Charpentier to Senior Associate.

Within the Group Services division in Switzerland, Jonathan Biddle, Stefano Marzo and Caryl Vogel have been promoted to Associate Director, Blerinda Ademi and Valerie Buhler to Manager and Silvio Gutierrez, Agid Hadid and Suthasinee Thitiviroon to Senior Associate.

Commenting on the promotions, Jacqui Cheshire, Head of Family Office in Continental Europe said: “Congratulations to all those well-deserving individuals. These promotions across our European offices showcase the exceptional talent and dedication within Stonehage Fleming, as we remain steadfast in our commitment to the long-term success and prosperity of the families and wealth creators we serve. We’d also like to congratulate Hélie on becoming Partner. He has played an influential role in the growth of the business in Europe.”


Email Copy Link

Stonehage Fleming Announces Series Of Promotions Across Jersey And The Isle Of Man

19 Jul 2023


Stonehage Fleming Announces Series Of Promotions Across Jersey And The Isle Of Man


Stonehage Fleming (“the Group”) one of the world’s leading international Family Offices, announces that it has made a series of promotions across its Jersey and Isle of Man offices.

In the Jersey Family Office division, Bev Stewart has been promoted to Partner. Bev has over 19 years’ investment banking and financial services experience and works with a number of Stonehage Fleming’s international high-net-worth clients. She provides advice and support to families and their advisors around the globe, aiding the management and coordination of their financial needs. Bev joined the Group as a Director in 2020 from Absa Bank Limited in South Africa.

Also, in the Jersey Family Office division Leigh Driscoll and Monika Osiak Faria have been promoted to Associate Director, and Larni Sobere to Senior Associate.

In the Jersey Group Corporate, Legal and Tax Advisory division, Leanne Stuart has been promoted to Associate Director.

In the Isle of Man Family Office division Samantha Andrews, Keri Breadner and Tessa Burrows have been promoted to Associate Director.

Commenting on the promotions, Greg Harris, Head of Family Office Stonehage Fleming UK and Channel Islands, said: “We are delighted to recognise the outstanding achievements and contributions of our team members in these regions. These promotions demonstrate our commitment to fostering talent, creating opportunities for professional growth, and commitment to meeting the evolving needs of the world’s leading families and wealth creators. It also brings us great pleasure to welcome Bev on becoming Partner in Jersey. Since joining in 2020, she has been an invaluable addition to the team and to the families she advises.


Email Copy Link


Stonehage Fleming Holds Final Close on Private Capital Annual Vintage Programme Raising in Excess of $130 Million for the 2023 Fund


London, 4th September 2023 – Stonehage Fleming, (“Stonehage Fleming” or “the Group”) , one of the world’s leading independently owned multi-family offices, today announces the final close of the Stonehage Fleming Global Private Capital Fund 2023 in excess of $130 million.

The Global Private Capital 2023 Fund is the latest in a series of annual funds for Stonehage Fleming’s innovative private capital programme. Each annual fund invests in six to eight best-in-class managers that will provide underlying exposure to between 70 and 120 high quality portfolio companies.

The Private Capital Annual Vintage Programme seeks to offer its clients access to top-performing segments of the private equity market through a concentrated portfolio, together with accelerated deployment of capital and minimal administrative burden for investors.

The programme’s disciplined portfolio construction aims to lower the risk profile for its clients compared with many of the alternatives. By deploying 50% of the fund at inception, the programme captures the benefits of the private markets from day one and avoids the initial negative returns and cash flows typically experienced by private equity investors in the early days of their portfolio.

Stonehage Fleming has committed a total of over $1.5 billion to private capital markets since 2001. The 2023 Fund will continue the team’s primary investment strategy of focusing on the small and mid-market segments globally.

Graham Wainer, CEO and Head of Investments, Stonehage Fleming Investment Management, said:

“Private capital is a key part of the Stonehage Fleming investment proposition and we are extremely pleased by the strong support from both new and existing investors for this strategy. The successful close of the Stonehage Fleming Private Capital Fund 2023 is a testament to the experienced team and an endorsement for the unique benefits of our approach.”

Mat Powley, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said:

“We are thrilled with the final closing of our eighth annual vintage fund and our largest fund to date. We continue to believe that our strategy of building high conviction portfolios of strong performing and hard to access private capital funds, established through our years of experience and long-standing relationships, will benefit our clients and their families for years to come.”

Meiping Yap, Co-Manager of the Stonehage Fleming Private Capital Annual Vintage Programme, said:

“Since its inception, our Private Capital Annual Vintage Programme has recorded double-digit growth in fund size with the 2023 Fund being invested on behalf of over 90 families. We are excited to continue delivering strong returns for our investors as we work towards building a self-funding portfolio of high-quality private equity investments across North America, Europe and Asia.”

All investments risk the loss of capital. Investments in private equity funds involve a high degree of risk and are only suitable for investors who fully understand and are willing to assume the risks involved. This fund is not regulated or authorised by the Financial Conduct Authority and nor are the underlying funds. No guarantee or representation is made that the funds will achieve their investment objective. Unquoted investments may be difficult to sell at a reasonable price because there will not be an active market in those investments and, in some circumstances, they may be difficult to sell at any price. This may inhibit sales in the event of an investor wishing to liquidate part or all of their investment.


Email Copy Link


Stonehage Fleming announces series of promotions in the UK


Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announced a series of promotions across the Group’s offerings in the London office.

In the Family Office division Jack Henderson and Anna Wetherell have been promoted to Associate Director, Francesca Maule and Eleanor Sowerbutts to Manager and Edward Durgan to Senior Associate.

Within Investment Management, James Cook has been promoted to Director, Mark Leshnick, Archie Burt and Miki Caves to Associate Director, and Ross Elliott to Manager.

Robyn Bramwell has been promoted to Director in Corporate, Legal and Tax Advisory.

In Group Services, Peter Rogerson has been promoted to Director, Hannah Berry to Associate Director, with Claire Main and Oliver Taylor promoted to Senior Associate.

Carol Mote, Global Head of Human Resources, said: “It is a pleasure to announce these well-deserved promotions across multiple service offerings. Our colleagues are pivotal to the growth and success of our business as we continue to demonstrate our commitment to being the pre-eminent independent adviser to the world’s leading families and wealth creators.”

ENDS


Email Copy Link


Stonehage Fleming Announces Promotions Across Europe


Luxembourg/Switzerland, 24 July 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announced a series of promotions across the Group’s offices throughout Europe.

Hélie De Cornois, who heads up the Family Office division in Luxembourg, has been promoted to Partner. He has extensive experience in the estate planning industry and advises ultra-high net worth private clients and investors on a range of domestic and international tax and estate planning matters. Prior to joining Stonehage Fleming in 2021, Hélie was Head of Estate Planning & International Patrimonial Services at Banque Degroof Petercam in Luxembourg.

Also in Luxembourg, Emmanuel Cruz has been promoted to Associate Director in Group Services and Lambertus Brand to Senior Associate in the Corporate Services division.

Within the Family Office division in Switzerland, Kailin Gratix has been promoted to Manager and Blerta Ademi, Deniz Ozler and Sebastien Charpentier to Senior Associate.

Within the Group Services division in Switzerland, Jonathan Biddle, Stefano Marzo and Caryl Vogel have been promoted to Associate Director, Blerinda Ademi and Valerie Buhler to Manager and Silvio Gutierrez, Agid Hadid and Suthasinee Thitiviroon to Senior Associate.

Commenting on the promotions, Jacqui Cheshire, Head of Family Office in Continental Europe said: “Congratulations to all those well-deserving individuals. These promotions across our European offices showcase the exceptional talent and dedication within Stonehage Fleming, as we remain steadfast in our commitment to the long-term success and prosperity of the families and wealth creators we serve. We’d also like to congratulate Hélie on becoming Partner. He has played an influential role in the growth of the business in Europe.”


Email Copy Link


Stonehage Fleming Announces Series Of Promotions Across Jersey And The Isle Of Man


Stonehage Fleming (“the Group”) one of the world’s leading international Family Offices, announces that it has made a series of promotions across its Jersey and Isle of Man offices.

In the Jersey Family Office division, Bev Stewart has been promoted to Partner. Bev has over 19 years’ investment banking and financial services experience and works with a number of Stonehage Fleming’s international high-net-worth clients. She provides advice and support to families and their advisors around the globe, aiding the management and coordination of their financial needs. Bev joined the Group as a Director in 2020 from Absa Bank Limited in South Africa.

Also, in the Jersey Family Office division Leigh Driscoll and Monika Osiak Faria have been promoted to Associate Director, and Larni Sobere to Senior Associate.

In the Jersey Group Corporate, Legal and Tax Advisory division, Leanne Stuart has been promoted to Associate Director.

In the Isle of Man Family Office division Samantha Andrews, Keri Breadner and Tessa Burrows have been promoted to Associate Director.

Commenting on the promotions, Greg Harris, Head of Family Office Stonehage Fleming UK and Channel Islands, said: “We are delighted to recognise the outstanding achievements and contributions of our team members in these regions. These promotions demonstrate our commitment to fostering talent, creating opportunities for professional growth, and commitment to meeting the evolving needs of the world’s leading families and wealth creators. It also brings us great pleasure to welcome Bev on becoming Partner in Jersey. Since joining in 2020, she has been an invaluable addition to the team and to the families she advises.


Email Copy Link


Insights

Video: How important is it that a trustee can provide strategic counsel?

Philippe de Salis notes the expertise and skills required to act as an advisor to a family

View More

The Stonehage Fleming View: Investment

The 2023 survey finds that there are no sizeable swings in preferred asset classes

View More

How can we help?

There is no substitution for a personal conversation. If you are interested in hearing more about how we can help please get in touch and one of our experts will contact you.

Thank you, your message has been received.