Stonehage Fleming

Last updated

Stonehage Fleming
Founded1873;150 years ago (1873)
Founder Robert Fleming
Website stonehagefleming.com

Stonehage Fleming was formed in 2014, when Fleming Family & Partners, the family office run by family members of banking pioneer Robert Fleming, merged with Stonehage, an international family office. [1]

Contents

The group manages assets worth more than £16.9 billion and employs over 900 people across 19 offices and 14 geographies. [2]

Stonehage Fleming's headquarters are located in Jersey with other offices are located in London, Channel Islands, Isle of Man, Switzerland, Israel, Luxembourg, South Africa, the US and Canada.

Stonehage was set up in 1976, originally assisting South African families that were migrating from South Africa during the country's apartheid regime. It provides a wide range of financial services, including operating as adviser, fiduciary and investment manager. [3]

History

Fleming traces its origins back to 1873 when Dundee-born financier Robert Fleming founded merchant bank Robert Fleming & Co. [4] Robert Fleming had amassed a large personal fortune investing in the American railroads.

Stonehage was set up in 1976, originally to assist South African families that were migrating from South Africa during the country's apartheid regime. It operates as adviser, fiduciary and investment manager. [5]

Fleming Family & Partners (FF&P) was established in 2000 by the Fleming family after the sale of Robert Fleming & Co to Chase Manhattan, which merged with JPMorgan.

Recent mergers and acquisitions

Stonehage and FF&P merged to create a global multi-family office in 2014. [6]

On 21 December 2018, Caledonia Investments plc announced that it had agreed to acquire a minority stake in Stonehage Fleming & Family partners Limited. [7]

In April 2020, Stonehage Fleming acquired the investment activities of Cavendish Asset Management and took over the running of its range of four OEIC funds. [8]

In January 2022, Stonehage Fleming completed the acquisition of the private client services business of Maitland [9]

In 2023, Stonehage Fleming acquired the South-Africa based investment management firm Rootstock. [10]

People

Chris Merry was appointed group chief executive officer for Stonehage Fleming in 2019 after taking over from Giuseppe Cuicci, who had led the business since 1997. He chairs the group executive committee. [11]

Cuicci is managing partner and deputy chairman of Stonehage Fleming. He joined the group in 1991 as a client manager and was appointed partner in 1995 before becoming chief executive two years later. [12]

Carol Mote was appointed in 2022 as global head of human resources and a member of the group executive committee. [13]

Stonehage Fleming recruited former Deloitte global chairman John Connolly to chair its board in October 2019. He replaced Charles Erasmus, who stepped down after 20 years in the role. [14]

Tim Lewis joined as a member of the board in 2021. He joined Caledonia Investments in 2011 and works within the private capital team. Lewis also sits on the board of Cooke Optics. [15]

Related Research Articles

Deloitte Touche Tohmatsu Limited, commonly referred to as Deloitte, is a British multinational professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of professionals in the world and is considered one of the Big Four accounting firms along with EY, KPMG and PwC.

<span class="mw-page-title-main">Franklin Templeton Investments</span> Global investment firm founded in New York City in 1947

Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin, for whom the company is named, and who was admired by founder Rupert Johnson Sr. In 1973, the company's headquarters moved from New York to San Mateo, California. As of October 12, 2020, Franklin Templeton held US$1.4 trillion in assets under management (AUM) on behalf of private, professional and institutional investors.

Robert Fleming & Co. was an asset manager and merchant bank founded in Dundee, Scotland, in 1873. In 1909, the firm moved its headquarters to London, England. It was sold to Chase Manhattan Bank for over $7 billion in 2000. Flemings was a 50% partner in the Asian investment bank Jardine Fleming.

<span class="mw-page-title-main">Schroders</span> British asset management company

Schroders plc is a British multinational asset management company headquartered in London, England. Founded in 1804, it employs over 6,000 people worldwide in 38 locations around Europe, America, Asia, Africa and the Middle East. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index.

<span class="mw-page-title-main">T. Rowe Price</span> American publicly owned investment firm

T. Rowe Price Group, Inc. is an American publicly owned global investment management firm that offers funds, subadvisory services, separate account management, and retirement plans and services for individuals, institutions, and financial intermediaries. The firm has assets under management of more than $1.6 trillion and annual revenues of $6.2 billion as of 2020, placing it 447 on the Fortune 500 list of the largest U.S. companies. Headquartered at 100 East Pratt Street in Baltimore, Maryland, it has 5,000 employees in Baltimore and 16 international offices serving clients in 47 countries.

<span class="mw-page-title-main">LGT Group</span> Private banking and asset management group based in Liechtenstein

LGT Group is the largest royal family-owned private banking and asset management group in the world. LGT, originally known as The Liechtenstein Global Trust, is owned by the princely House of Liechtenstein through the Prince of Liechtenstein Foundation and led by its royal family members H.S.H. Prince Maximilian von und zu Liechtenstein (CEO) and H.S.H. Prince Philipp von und zu Liechtenstein (chairman).

A multi-family office (MFO) is an independent organization that supports multiple families to manage their entire wealth. Multi-family offices typically provide a variety of services including tax and estate planning, risk management, objective financial counsel, trusteeship, lifestyle management, coordination of professionals, investment advice, and philanthropic foundation management. Some multi-family offices are also known to offer personal services such as managing household staff and making travel arrangements. Because the customized services offered by a multi-family office can be costly, clients of a multi-family office typically have a net worth in excess of $50 million.

Sanlam is a South African financial services group headquartered in Bellville, Western Cape, South Africa. Sanlam is the largest insurance company in Africa. It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange and the A2X. Established in 1918 as a life insurance company, Sanlam Group has developed into a diversified financial services business. Its five business clusters comprise Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam.

<span class="mw-page-title-main">Union Bancaire Privée</span> Private bank and finance firm in Switzerland

Union Bancaire Privée is a private bank and wealth management firm headquartered in Geneva. UBP is one of the largest private banks in Switzerland, and serves private and institutional clients. The bank was founded in 1969 by Edgar de Picciotto.

Partners Group Holding AG is a Swiss-based global private equity firm with US$141.7 billion in assets under management in private equity, private infrastructure, private real estate and private debt.

Virtus Investment Partners, Inc. operates a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.

Guggenheim Partners is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services.

<span class="mw-page-title-main">Fiduciary Trust Company International</span>

Fiduciary Trust Company International is a United States-based wealth management firm that provides investment management and wealth management services. It has served high-net-worth families, foundations, and endowments since 1931. As of 2019, the firm had $71 billion in assets under administration and management, serving clients in 48 countries. The firm and its subsidiaries maintain offices in New York City, and several other locations.

<span class="mw-page-title-main">Affiliated Managers Group</span> American Investment Company

Affiliated Managers Group, Inc. is a strategic partner to independent investment management firms globally, with equity stakes in a number of partner-owned traditional investment managers, hedge funds, and specialized private equity firms which it calls “Affiliates.” The company has principal offices in West Palm Beach, Florida; Prides Crossing, Massachusetts; Stamford, Connecticut; and London, United Kingdom. The company was founded in December 1993 by William J. Nutt in Boston, Massachusetts, as a privately owned company with initial backing from TA Associates; Its initial public offering on the New York Stock Exchange occurred in November 1997. Today, AMG’s Affiliates manage $651 billion in assets in aggregate.

Maitland(a part of Apex Group) is a privately-owned investment holding company. In 2021, its Private and Corporate Client Services business was acquired by Stonehage Fleming and in 2022 its Fund and ManCo business was acquired by Apex Group.

<span class="mw-page-title-main">NN Investment Partners</span> Dutch Asset Management Firm

NN Investment Partners was a Netherlands-based asset manager, with headquarters in The Hague and offices in 15 countries in Europe, Asia and the Americas. The company was acquired by Goldman Sachs Asset Management, the asset management division of Goldman Sachs in April 2022.

Edelman Financial Engines is an American financial planning and investment advisory company. As of March 2021, it has $291 billion in assets and more than 1.3 million clients. The company was formed by the 2018 merger of Financial Engines and Edelman Financial Services.

<span class="mw-page-title-main">Rockefeller Capital Management</span> American wealth and asset management company

Rockefeller Capital Management (RCM) is an independent wealth management and financial services firm, founded in 2018. The firm offers family office, asset management, and strategic advisory services to high-net-worth individuals and families, institutions, and corporations. Its president and CEO is Greg Fleming.

<span class="mw-page-title-main">Abrdn</span> UK based investment company

Abrdn plc, formerly Standard Life Aberdeen plc, is a United Kingdom-based global investment company headquartered in Edinburgh, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Allspring Global Investments (Allspring) is an American asset management firm headquartered in Charlotte, North Carolina. It was previously the asset management unit of Wells Fargo until November 2021 when it commenced operations as an independent firm.

References

  1. ↑ "Fleming Family Office to Merge With Competitor Stonehage". Bloomberg.com. 6 November 2014. Retrieved 26 May 2023.
  2. ↑ "Stonehage Fleming Corporate Brochure". https://sf.azureedge.net/craft-cms/public/STONEHAGE-FLEMING-CORPORATE-BROCHURE-2.pdf
  3. ↑ "Our Approach | Stonehage Fleming". www.stonehagefleming.com. Retrieved 25 April 2023.
  4. ↑ "The International Family Office : Stonehage Fleming" (PDF). Stonehagefleming.com. Retrieved 15 January 2016.
  5. ↑ "Fleming Family to merge with rival Stonehage | Financial Times". www.ft.com. Retrieved 15 August 2023.
  6. ↑ "Stonehage and Fleming Family merge to form family office giant". citywire.com. Retrieved 15 August 2023.
  7. ↑ "Acquisition – Company Announcement - FT.com". markets.ft.com. Retrieved 15 August 2023.
  8. ↑ "Stonehage Fleming to acquire Cavendish Asset Management". 23 April 2020. Retrieved 15 August 2023.
  9. ↑ Brusnahan, Patrick (3 February 2022). "Stonehage Fleming completes acquisition of Maitland private client services". Private Banker International. Retrieved 25 April 2023.
  10. ↑ Sidhika, Anika (3 March 2023). "Rootstock Investment Management acquired by Stonehage Fleming". Private Banker International. Retrieved 25 April 2023.
  11. ↑ "Stonehage Fleming appoints new CEO". InternationalInvestment. 5 September 2019. Retrieved 15 August 2023.
  12. ↑ "Stonehage Fleming CEO steps down after 22 years". citywire.com. Retrieved 15 August 2023.
  13. ↑ "Press & Media | Stonehage Fleming". www.stonehagefleming.com. Retrieved 15 May 2023.
  14. ↑ "Stonehage Fleming names ex-Deloitte exec as chair". citywire.com. Retrieved 15 August 2023.
  15. ↑ "Meet the team". 13 February 2020.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.