Stonehage Fleming Appoints Carolyn Bell As Deputy Portfolio Manager for Flagship Global Best Ideas Equity Strategy

8 October 2024 – Stonehage Fleming Investment Management (SFIM) has appointed Carolyn Bell as Deputy Portfolio Manager for the flagship £3.8bn Global Best Ideas Equity Strategy (GBI).

In her new role, Carolyn, who joined SFIM as Partner in April 2024, will work closely with Gerrit Smit, Head of Global Equity Management and Lead Portfolio Manager, on investment decisions and the day-to-day management of GBI and other collective vehicles with the same investment strategy. Launched in 2013, GBI is a high-conviction equity strategy investing in the world’s best quality growth companies.

Carolyn has 16 years’ industry experience, having previously been an Investment Manager at Aegon Asset Management running a number of strategies covering US and global equities, and technology. Prior to Aegon Asset Management, Carolyn spent five years as an Investment Analyst at Baillie Gifford.

Her new role starts with immediate effect.

Gerrit Smit commented: “Carolyn has made a significant positive impact on the GBI proposition since her arrival and she will play a valuable role as Deputy Portfolio Manager in helping manage a strategy which has grown substantially in recent years.

“This new position reflects the significance of GBI for SFIM and for the Group as a whole, and it will provide clarity around the investment team structure as we continue to evolve to best meet the requirements of professional investors. I look forward to working with Carolyn as part of our ongoing commitment to delivering attractive returns for clients over the long term, with the support and resources of SFIM and the wider GBI investment team.”

Carolyn Bell added: “SFIM is a performance-orientated boutique with a culture that seeks to maximise the exciting structural investment opportunities we see today. It has been a pleasure to join a talented investment team whose sole focus is to find the world’s best companies and I am delighted to assume this new position at an exciting time for GBI.”

Stonehage Fleming Appoints Newly Promoted Partner Priyanka Hindocha As Head Of The UK Family Office

4 September 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading independently owned multi-family offices announces the appointment of Priyanka Hindocha as Head of the UK Family Office.

Priyanka joined Stonehage Fleming’s UK Family Office team as a Senior Associate in 2019, having previously spent five years in the Private Client Services Team at Deloitte. She was appointed Director at Stonehage Fleming in 2021, before being promoted to Partner in June of this year.

Over her career, Priyanka has gained extensive experience supporting an international client base of high-net-worth families across the whole range of their affairs, from strategic decision making to governance and succession planning, and tailoring the Group’s services to the complex, individual requirements of each family.

As Head of UK Family Office, Priyanka will oversee the UK family office business and work closely with key stakeholders to ensure continued growth of the business and collective achievement for the UK family office team.

Priyanka will continue to be based in London and will report to Greg Harris, Head of Family Office – British Islands. The appointment is effective immediately. Priyanka is the latest in a series of appointments which now sees six of Stonehage Fleming’s family office businesses led by women: Kim Brown in the Isle of Man; Gillian Ralston Jordan in Guernsey; Lorna Beckley in Geneva; Caroline Bauer in Zurich; and Jacqui Cheshire as Head of Switzerland.

Greg Harris, Head of Family Office – British Islands, commented: “Over the last five years Priyanka has provided our clients with the highest standard of strategic advice and expert analysis to guide them through complex affairs. We know she is absolutely the right choice to lead our UK Family Office and we look forward to supporting Priyanka in her new leadership role.”

Priyanka Hindocha added: “It is an interesting time for families and family offices, with themes such as political uncertainty, risk management and navigating the transition to the next generation to consider. However, Stonehage Fleming’s position as one of the world’s leading independent multi-family offices means that we are perfectly placed to manage our clients’ needs, however varied and complex. It has been a rewarding five years with the team and I am proud to have the opportunity to lead us to greater growth as we support many of the world’s leading families and wealth creators across generations and geographies.”

Stonehage Fleming Holds Final Close on Private Capital Annual Vintage Programme Raising in Excess Of $160 Million For The 2024 Fund

London, 14 August 2024 – Stonehage Fleming, one of the world’s leading independently owned multi-family offices, today announces the final close of the Stonehage Fleming Global Private Capital Fund 2024 in excess of $160 million.

The Global Private Capital 2024 Fund is the latest in a series of annual funds for Stonehage Fleming’s innovative private capital programme (“Stonehage Fleming Private Capital Annual Vintage Programme”). Each annual fund invests in approximately eight best-in-class managers that will provide underlying exposure to approximately 100-150 high quality portfolio companies.

The Stonehage Fleming 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 a significant proportion 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 2024 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 2024 is an endorsement of the experienced team and the unique benefits of our approach.”

Mat Powley, Partner and Co-Manager, Stonehage Fleming Private Capital Annual Vintage Programme, said:

“We are thrilled with the final close of our 2024 Fund at over $160m representing our largest fund to date. That we have been able to consistently grow our annual vintage funds every year since inception is testament to the trust that we have instilled in our clients and we continue to believe that our strategy of building high conviction portfolios and partnering with strong performing private capital managers globally will benefit our clients and their families.”

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

“We are excited to close on our largest annual vintage fund to date on behalf of over 100 families. Private capital continues to be a key driver of returns and diversifier of risk in the investment portfolios of many families. We continue to have strong conviction in our strategy of partnering with top performing and hard to access private capital managers in the small and mid-market segments.”

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.

Stonehage Fleming Appoints New Group Head Of HR

Jayne Franks to drive talent development and engagement across the business

London, 5^th August 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces the appointment of Jayne Franks as Group Head of HR.

Jayne brings over 25 years’ experience in talent management, strategic HR and organisational development to Stonehage Fleming from Sotheby’s where she was Senior Vice President HR for Europe. Prior to this, Jayne spent 10 years at Barclays Private Bank, most recently as Head of HR Private Bank & Overseas Services, where she oversaw the segmentation of Barclays Wealth into two separate entities. She also spent four years as HR Director of Schroders Asset Management.

Jayne will join as Partner and form part of Stonehage Fleming’s Senior Leadership Team. She will work closely with the business heads to develop and execute the Group HR strategy, and drive talent development and retention, diversity and engagement across the business. Her role will be based in London and is effective immediately.

Ian Crosby, Head of Group Risk and Chairman of Stonehage Fleming Jersey, said: “We welcome Jayne to Stonehage Fleming. Her experience leading the HR functions of private banking and asset management businesses serving global clientele across multiple jurisdictions will help us attract and develop the best talent and structure our internal operations so that our team continues to provide exceptional service to clients.”

Jayne Franks added: “Stonehage Fleming is a global leader in wealth management, with a client-centric approach and and people at the heart of the business. I look forward to working with my new colleagues across the Group.”

Stonehage Fleming Announces Series Of Senior Global Promotions

Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, announces a series of global promotions across the Group’s service offerings.

In the Family Office division, Guy Brukman (Zurich), Mark Swart (Jersey), Thiam Marais (Cape Town) Nicholas Smith and Priyanka Hindocha (London), are promoted to Partner, and Hattie Graham and Patrick Lynch (London) are promoted to Director.

In Investment Management, Mathew Powley (London) is promoted to Partner and Eleana Watts (London) is promoted to Director.

In Group Services, Monean Winterbach and Sumari Naude (Cape Town) are promoted to Director and Lylanie Berg (Cape Town) has been promoted to Head of Risk & Compliance for Mauritius.

These promotions follow recent appointments including Cora Binchy, Head of Fiduciary, who has been with Stonehage Fleming since 1987 and will oversee the fiduciary businesses in Jersey, Guernsey, Isle of Man, Switzerland, Monaco, Malta and Mauritius. Additionally, Tanja Bernat has been appointed as Director and Head of Relationship Management, based in Luxembourg. Tanja has over 20 years’ financials services experience and expertise in the alternative funds sector, specialising in private equity and real estate investments.

Giuseppe Ciucci, Executive Chairman, said: “It is a pleasure to announce these well-deserved promotions across Stonehage Fleming. We are thrilled to see a number of individuals – across our business – rewarded for their continued dedication and application. Our colleagues are pivotal to the growth and success of our business and we are deeply committed to their professional and personal growth. It is always a privilege to celebrate their success.”

Stonehage Fleming Appoints Pran Naidu As Senior Analyst in Global Best Ideas Equity Team

Stonehage Fleming Investment Management (SFIM) has appointed Prandhana Naidu as a senior equity research analyst within the flagship GBP3.8bn Global Best Ideas Equity Strategy (GBI).

Pran joins from Melville Douglas Investment Management, where she was a senior global equity analyst and co-fund manager. In total, she has well over 10 years’ investment industry experience.

Based in London, Pran, who has particular expertise in consumer and industrial sectors, amongst other sectors, will report into Head of Global Equity Management Gerrit Smit.

Gerrit Smit commented: “Pran has significant experience at a senior level working on global equity mandates very similar to our own and will be able to hit the ground running as part of the team supporting the Global Best Ideas Equity Fund. Pran has demonstrated throughout her career her ability to add value through high quality company and industry research and we are pleased to welcome her into the GBI team.”

Pran added: “The Global Best Ideas Equity Fund has a stellar track record stretching back more than 10 years and it is exciting to consider the investment opportunities that lie ahead given generationally powerful themes within areas such as artificial intelligence and healthcare. I am delighted to contribute to a strategy seeking to invest in the very best companies around the world and look forward to working with such a talented and experienced team.”

ENDS

Stonehage Fleming appoints Cora Binchy as Head of Fiduciary

SENIOR PARTNER TO OVERSEE MULTIPLE JURISDICTIONS

June 2024 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Cora Binchy as Head of Fiduciary.

Cora joined Stonehage Fleming in 1987. She has extensive experience of working with international high net worth families providing trustee and executor services. Cora started her career in Switzerland establishing the Group’s fiduciary team and trustee services. She then moved to the Group’s Jersey office to head-up the fiduciary team and was instrumental in building out their fiduciary capabilities.

As Head of Fiduciary, Cora will oversee the fiduciary businesses in Jersey, Guernsey, Isle of Man, Switzerland, Monaco, Malta and Mauritius. She will work closely with key stakeholders in each jurisdiction to ensure that services are aligned to the highest standards of fiduciary risk management.

Cora will continue to be based in Jersey. She will report to Mark McMullen, CEO – Family Office and the appointment is effective immediately.

Mark McMullan, CEO - Family Office, commented: “We are delighted to announce that Cora Binchy will take on the position as Head of Fiduciary. The fiduciary business lies at the heart of Stonehage Fleming, and in the majority of client cases, we act in a fiduciary capacity in different parts of the world.

“Cora’s leadership in trust and fiduciary services across Jersey has made her a leading figure within the community and as we have increased the number of jurisdictions within which the Group now operates, this attribute will help to ensure that we focus on offering best in class fiduciary services to the world’s leading families and wealth creators. We wish Cora well in her new role.”

Cora Binchy added: “At Stonehage Fleming, our independence differentiates us, and most importantly, it allows us to align our interests with those of the families we serve. The Group has seen significant growth through adding new services in response to client needs across several geographies. I am excited to lead on this in my new role and continuing my career at the Group.”

Head of Stonehage Fleming Corporate Services South Africa elected Chair of the South African Securitisation and Asset Backed Debt Securities Forum

We are delighted to announce that Brendan Harmse, Head of Corporate Services South Africa, has been elected Chairperson of the South African Securitisation and Asset-Backed Debt Securities Forum. Brendan brings extensive experience to this industry leadership and serving role, having previously acted in various Forum capacities, such as Chairman and Vice Chairman between 2009 and 2018.

Founded approximately twenty years ago, the Forum serves as a vital advocate for stakeholders participating in the South African securitisation and asset-backed debt securities markets. It actively promotes industry knowledge, fosters collaboration with policymakers and regulators, and engages with local and international stakeholders on matters shaping these markets.

While the securitisation and asset-backed security markets in Europe and the United States have largely recovered from the 2008 credit crisis and witnessed growth in recent years, South Africa has not yet mirrored this trend.

As the newly elected chairperson, Brendan intends to engage with stakeholders (including bank and non-bank issuers, legal professionals, regulators, and investors) over the next 100 days to explore strategies on how to potentially revitalise these South African markets, which facilitate matched-funding and risk transfer. Brendan identifies two key priorities for the Forum moving forward. First, assisting with simplifying the industry and related processes, drawing on successful models and trends in Europe and the United States, and secondly to actively expand the Forum’s investor member base.

Brendan believes his role also presents a unique opportunity to leverage Stonehage Fleming’s global experience and knowledge of international best practices, and sharing these valuable insights with the Forum and its stakeholders to the benefit of the entire South African market.

ENDS

Stonehage Fleming Appoints Investment Management Partner

Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices announces the appointment of Carolyn Bell as Partner within Stonehage Fleming Investment Management (“SFIM”).

With over 15 years’ industry experience, Carolyn joins Stonehage Fleming from Aegon Asset Management where she was Investment Manager for the Aegon US Equity Pension Fund. She was also co-manager of the Aegon Technology Pension Fund, and support manager for the Aegon Global Equity Market Neutral Fund. Prior to Aegon Asset Management, Carolyn spent five years as an Investment Analyst at Bailie Gifford.

Carolyn will work closely with Stonehage Fleming’s flagship Global Best Ideas Equity Strategy (“GBI”) and support the continued scaling of GBI across all channels, bringing particular experience of working with institutional and other professional investor audiences. She will be based in London and will report to Gerrit Smit, Head of Global Equity Management for SFIM. The new role is effective immediately.

Graham Wainer, CEO – Investment Management, Stonehage Fleming, commented: “We are pleased to have Carolyn join us as a Partner in the Investment Management team. She has an impressive career and her experience of analysis and management in institutional investment firms, as well as US equity markets, will be invaluable to the SFIM division including the firm’s flagship Global Best Ideas Equity Strategy. She will be a great asset to the Group.”

Carolyn Bell added: “I am delighted to join Stonehage Fleming. Global equity markets remain a beacon for investment opportunity, offering a dual advantage of protecting wealth through diversification and nurturing its growth potential, especially in the current economic landscape. I look forward to working with such a talented investment team.”

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.”

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.”

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.