Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, today announces the completion of its acquisition of the business and assets of Rootstock Investment Management (“Rootstock”), an investment firm based in South Africa. The transaction was previously announced on 21 October 2022.
Effective 1 March 2023, Rootstock’s Worldwide Flexible Fund has been rebranded as the Stonehage Fleming SCI Worldwide Flexible Fund. Rootstock’s Global Equity Fund has been merged into Stonehage Fleming’s Global Best Ideas Equity Fund, which is managed in London by industry leader Gerrit Smit.
Chris Merry, Stonehage Fleming Group CEO commented: “We are pleased to announce the formal completion of our acquisition of Rootstock. Making selected acquisitions to enhance our proposition and increase our scale as a complement to organic growth is part of our strategic plan. We will continue to look for more opportunities to bring our differentiated and comprehensive offering to new clients.”
Stonehage Fleming was advised on the transaction by Stonehage Fleming Advisory and Stonehage Fleming Law.
Jersey, 2 February 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announces the appointment of Ed Hawthorne as Director to Stonehage Fleming Dealing and Treasury Services (Jersey) Limited (“Stonehage Fleming Treasury”).
Ed has over 15 years’ experience in finance and treasury operations and dealing. He joins Stonehage Fleming from Atrium European Real Estate where he was Group Head of Treasury. Prior to this, Ed was Senior Treasury Manager at CPA Global and Treasury Manager at MatchesFashion.com.
Ed will be based in Jersey and will report directly to Stefan Flachsmann, Stonehage Fleming’s Global Head of Financial Services. His role is effective immediately.
Stefan Flachsmann, Global Head of Financial Services Stonehage Fleming, said: “It is a pleasure to welcome Ed to Stonehage Fleming and we look forward to him bringing a fresh perspective to ensure effective strategic and practical management of Stonehage Fleming Treasury. His experience will be invaluable to the Group as we continue to support many of the world’s leading families and wealth creators across generations and geographies.”
Ed Hawthorne added: “I am delighted to join Stonehage Fleming. I look forward to continuing the already comprehensive work its dealing and treasury service provides, acting as a single point of contact for clients’ banking and investment requirements; something which is paramount to risk mitigation across the entirety of a family’s wealth.”
Ed will take over from Graeme Gill who has also decided to step out of his current role as Head of Treasury Services in April and will assume a senior relationship manager role within Stonehage Fleming Group Financial Services. In his new role, Graeme will be responsible for marketing, both externally and internally, the services of Stonehage Fleming Treasury and the solutions of Stonehage Fleming Group Financial Services to support clients’ banking solutions needs.
Stefan Flachsmann said: “We are extremely happy to be able to retain Graeme and his vast knowledge for this new role within Stonehage Fleming. We would like to thank him for all his efforts, commitment and passion in developing and growing Stonehage Fleming Dealing & Treasury over the last 9 years.”
London, 1st February 2023 – Stonehage Fleming (“the Group”), one of the world’s leading international Family Offices, announces the fifteen women chosen for the inaugural ‘Stonehage Fleming XV: The Next Chapter of Wealth’.
This new UK initiative recognises women in leadership roles for their broad contribution, exhibiting all the positive characteristics of Stonehage Fleming’s Four Pillars of Capital. This premise, based on Stonehage Fleming’s regular proprietary research, holds that a family’s social, intellectual and cultural capital are as important to its long-term intergenerational health, as its financial capital.
The chosen SFXV come from a diverse variety of sectors including Life sciences, Pharma, Healthcare, Professional and financial services, Retail, Technology, Charities, and Arts & Culture.
The full list is:
The list was formally unveiled last night at a drinks reception where specially commissioned portraits of the SFXV, taken by the celebrated photographer Millie Pilkington, were displayed.
Chris Merry, CEO of Stonehage Fleming and SFXV judge, said: “The SFXV is an active demonstration of Stonehage Fleming’s huge admiration and respect for female talent, creativity and leadership. I have thoroughly enjoyed taking part as a judge throughout the selection process. Alongside our internal and external judges, we wish to thank all those who put forward nominations.”
Natalie Campbell, MBE, Stonehage Fleming UK Advisory Board Member and SFXV judge, said: “We are thrilled to have such pioneering female business leaders as part of our first cohort of the SFXV. Through the creation and launch of this cohort of women we have created a community where women can connect and collaborate through this shared experience.”
For more details about the Four Pillars of Capital and how they can be used as a framework for intergenerational wealth planning, please visit https://www.stonehagefleming.c...
Find out more about our SFXV: www.stonehagefleming.com/sf15
The Hotel AKA Brickell recently played host to a cocktail party held by one of the world’s leading international Family Offices, Stonehage Fleming.
The event was staged to celebrate the opening of Stonehage Fleming’s new office in Florida. Guests representing Miami’s dynamic ultra-high net worth community enjoyed cocktails and conversation with Stonehage Fleming’s North American Leadership team, including Johan van Niekerk, Head of Family Office, US; Peter Rosenberg, Head of US offices in Philadelphia, PA and Mike Moodie, Head of Family Office for Canada in Toronto.
Commenting on the evening, Johan van Niekerk said: “This is a new chapter for Stonehage Fleming that is especially meaningful for us as a team because it demonstrates our commitment to expanding our capabilities in the United States.
“Being here represents a fantastic opportunity. Miami is the undisputed gateway to Latin America and we are so excited to be able to offer a local presence that meets the needs of this important and growing segment of our client base.”
Stonehage Fleming’s office is located in the Brickell Avenue Financial District. Lowry Brescia has been appointed to the position of Client Relationship Manager and heads the Group’s Representative Office in Miami. She works alongside Johan van Niekerk and is responsible for the development and management of client relationships in key markets of both Florida and Latin America.
A Miami resident of over two decades, Lowry joined the Group in 2022 after having spent five years’ as Vice President of Operations a private commercial real estate investment Fund subsidiary of Lionheart Capital, where she managed the day-to-day operations of a 6 million square foot portfolio throughout the US. Prior to this, she spent over a decade at Cantor Group (formerly Cantor & Webb), a world renowned International Tax Law Firm, where she managed the affairs of ultra/high net worth international individuals and families from Latin America, the United States, the Caribbean and Europe.
Lowry Brescia concluded: “Families around the world find themselves navigating an increasingly sophisticated and complicated environment. This is especially true for Latin-American families who have been dealing with political instability, ever changing tax regimes and insecurity for years. At the same time, there has been a significant jump in private capital investments throughout the region, especially focusing on the digital infrastructure and renewable energy sectors. These unique set of circumstances have led to a sustained and growing demand for expert advice on a multi-jurisdictional level.”
“Stonehage Fleming has been supporting wealthy families with complex international lives for decades. The growing number of Latin American families we support is a testament to our work and our commitment to the region.”
Stonehage Fleming now has a presence in 14 geographies around the world, including an office in Philadelphia, and a representative office in Toronto, Canada.
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, today announces the completion of its acquisition of the business and assets of Rootstock Investment Management (“Rootstock”), an investment firm based in South Africa. The transaction was previously announced on 21 October 2022.
Effective 1 March 2023, Rootstock’s Worldwide Flexible Fund has been rebranded as the Stonehage Fleming SCI Worldwide Flexible Fund. Rootstock’s Global Equity Fund has been merged into Stonehage Fleming’s Global Best Ideas Equity Fund, which is managed in London by industry leader Gerrit Smit.
Chris Merry, Stonehage Fleming Group CEO commented: “We are pleased to announce the formal completion of our acquisition of Rootstock. Making selected acquisitions to enhance our proposition and increase our scale as a complement to organic growth is part of our strategic plan. We will continue to look for more opportunities to bring our differentiated and comprehensive offering to new clients.”
Stonehage Fleming was advised on the transaction by Stonehage Fleming Advisory and Stonehage Fleming Law.
Jersey, 2 February 2023 – Stonehage Fleming (“Stonehage Fleming” or “the Group”) one of the world’s leading international multi-family offices, announces the appointment of Ed Hawthorne as Director to Stonehage Fleming Dealing and Treasury Services (Jersey) Limited (“Stonehage Fleming Treasury”).
Ed has over 15 years’ experience in finance and treasury operations and dealing. He joins Stonehage Fleming from Atrium European Real Estate where he was Group Head of Treasury. Prior to this, Ed was Senior Treasury Manager at CPA Global and Treasury Manager at MatchesFashion.com.
Ed will be based in Jersey and will report directly to Stefan Flachsmann, Stonehage Fleming’s Global Head of Financial Services. His role is effective immediately.
Stefan Flachsmann, Global Head of Financial Services Stonehage Fleming, said: “It is a pleasure to welcome Ed to Stonehage Fleming and we look forward to him bringing a fresh perspective to ensure effective strategic and practical management of Stonehage Fleming Treasury. His experience will be invaluable to the Group as we continue to support many of the world’s leading families and wealth creators across generations and geographies.”
Ed Hawthorne added: “I am delighted to join Stonehage Fleming. I look forward to continuing the already comprehensive work its dealing and treasury service provides, acting as a single point of contact for clients’ banking and investment requirements; something which is paramount to risk mitigation across the entirety of a family’s wealth.”
Ed will take over from Graeme Gill who has also decided to step out of his current role as Head of Treasury Services in April and will assume a senior relationship manager role within Stonehage Fleming Group Financial Services. In his new role, Graeme will be responsible for marketing, both externally and internally, the services of Stonehage Fleming Treasury and the solutions of Stonehage Fleming Group Financial Services to support clients’ banking solutions needs.
Stefan Flachsmann said: “We are extremely happy to be able to retain Graeme and his vast knowledge for this new role within Stonehage Fleming. We would like to thank him for all his efforts, commitment and passion in developing and growing Stonehage Fleming Dealing & Treasury over the last 9 years.”
London, 1st February 2023 – Stonehage Fleming (“the Group”), one of the world’s leading international Family Offices, announces the fifteen women chosen for the inaugural ‘Stonehage Fleming XV: The Next Chapter of Wealth’.
This new UK initiative recognises women in leadership roles for their broad contribution, exhibiting all the positive characteristics of Stonehage Fleming’s Four Pillars of Capital. This premise, based on Stonehage Fleming’s regular proprietary research, holds that a family’s social, intellectual and cultural capital are as important to its long-term intergenerational health, as its financial capital.
The chosen SFXV come from a diverse variety of sectors including Life sciences, Pharma, Healthcare, Professional and financial services, Retail, Technology, Charities, and Arts & Culture.
The full list is:
The list was formally unveiled last night at a drinks reception where specially commissioned portraits of the SFXV, taken by the celebrated photographer Millie Pilkington, were displayed.
Chris Merry, CEO of Stonehage Fleming and SFXV judge, said: “The SFXV is an active demonstration of Stonehage Fleming’s huge admiration and respect for female talent, creativity and leadership. I have thoroughly enjoyed taking part as a judge throughout the selection process. Alongside our internal and external judges, we wish to thank all those who put forward nominations.”
Natalie Campbell, MBE, Stonehage Fleming UK Advisory Board Member and SFXV judge, said: “We are thrilled to have such pioneering female business leaders as part of our first cohort of the SFXV. Through the creation and launch of this cohort of women we have created a community where women can connect and collaborate through this shared experience.”
For more details about the Four Pillars of Capital and how they can be used as a framework for intergenerational wealth planning, please visit https://www.stonehagefleming.c...
Find out more about our SFXV: www.stonehagefleming.com/sf15
The Hotel AKA Brickell recently played host to a cocktail party held by one of the world’s leading international Family Offices, Stonehage Fleming.
The event was staged to celebrate the opening of Stonehage Fleming’s new office in Florida. Guests representing Miami’s dynamic ultra-high net worth community enjoyed cocktails and conversation with Stonehage Fleming’s North American Leadership team, including Johan van Niekerk, Head of Family Office, US; Peter Rosenberg, Head of US offices in Philadelphia, PA and Mike Moodie, Head of Family Office for Canada in Toronto.
Commenting on the evening, Johan van Niekerk said: “This is a new chapter for Stonehage Fleming that is especially meaningful for us as a team because it demonstrates our commitment to expanding our capabilities in the United States.
“Being here represents a fantastic opportunity. Miami is the undisputed gateway to Latin America and we are so excited to be able to offer a local presence that meets the needs of this important and growing segment of our client base.”
Stonehage Fleming’s office is located in the Brickell Avenue Financial District. Lowry Brescia has been appointed to the position of Client Relationship Manager and heads the Group’s Representative Office in Miami. She works alongside Johan van Niekerk and is responsible for the development and management of client relationships in key markets of both Florida and Latin America.
A Miami resident of over two decades, Lowry joined the Group in 2022 after having spent five years’ as Vice President of Operations a private commercial real estate investment Fund subsidiary of Lionheart Capital, where she managed the day-to-day operations of a 6 million square foot portfolio throughout the US. Prior to this, she spent over a decade at Cantor Group (formerly Cantor & Webb), a world renowned International Tax Law Firm, where she managed the affairs of ultra/high net worth international individuals and families from Latin America, the United States, the Caribbean and Europe.
Lowry Brescia concluded: “Families around the world find themselves navigating an increasingly sophisticated and complicated environment. This is especially true for Latin-American families who have been dealing with political instability, ever changing tax regimes and insecurity for years. At the same time, there has been a significant jump in private capital investments throughout the region, especially focusing on the digital infrastructure and renewable energy sectors. These unique set of circumstances have led to a sustained and growing demand for expert advice on a multi-jurisdictional level.”
“Stonehage Fleming has been supporting wealthy families with complex international lives for decades. The growing number of Latin American families we support is a testament to our work and our commitment to the region.”
Stonehage Fleming now has a presence in 14 geographies around the world, including an office in Philadelphia, and a representative office in Toronto, Canada.
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stonehage Fleming Agrees To Acquire Rootstock Investment Management’s Business And Assets
21 Oct 2022
Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, today announces that it has agreed to acquire the business and assets of Rootstock Investment Management (“Rootstock”), an investment firm based in South Africa.
On completion of the transaction, which is subject to regulatory approval, Stonehage Fleming will acquire all the operating activities of Rootstock, including the Rootstock SCI Worldwide Flexible Fund and the Rootstock Global Equity UCITS Fund. This will bring additional scale in AUM and further investment expertise, together with an on the ground presence in Stellenbosch, further strengthening Stonehage Fleming’s position in the South African domestic market.
Subject to regulatory approval, Rootstock Global Equity UCITS Fund will be amalgamated with Stonehage Fleming’s flagship Global Best Ideas Equity fund (“GBI”), managed by Gerrit Smit, Head of Stonehage Fleming Global Equity Management. Rootstock SCI Worldwide Flexible Fund will be renamed the Stonehage Fleming SCI Worldwide Flexible Fund; it will continue to be managed by Johan Barkhuysen, reporting to Gerrit in London.
On completion, Rootstock founder Thys du Toit will join Stonehage Fleming as a Partner.
Chris Merry, Stonehage Fleming Group CEO commented: “We warmly welcome Rootstock and its clients to Stonehage Fleming. We have known Rootstock for many years and are confident of the cultural fit between the firms, already sharing a number of clients. This transaction continues our strategy of supplementing organic growth through select acquisitions and we will continue to look for companies which share Stonehage Fleming’s values and culture, as we have already demonstrated to positive effect with Cavendish in 2020, and Maitland in 2022.
Thys du Toit, founder of Rootstock Investment Management, commented: “Stonehage Fleming and Rootstock’s similar culture, core values and investment philosophy could not be better if by design. Stonehage Fleming is a firm whose investment acumen Rootstock holds in high regard and many of Rootstock’s clients already know and value Stonehage Fleming and Gerrit Smit, a respected industry leader. This new chapter within the Stonehage Fleming family presents an exciting opportunity for us all.”
Stonehage Fleming was advised on the transaction by Stonehage Fleming Advisory and Stonehage Fleming Law.
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey / Lola Adekaiyaoja
E: stonehagefleming@montfort.london
T: +44 7738 912267 / +44 7427 487 118
NOTES TO EDITORS
Stonehage Fleming is one of the world’s leading independently owned 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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stats as at end of September 2022
Stonehage Fleming (“the Group”), one of the world’s leading international Family Offices, announces the appointment of Stefan Flachsmann as Group Head of Financial Services.
In this newly created role, Stefan will be responsible for managing and developing Stonehage Fleming’s financial services offering. This includes the Group’s treasury, dealing and custody platforms, the Group’s financial counterparty relationships, and relationships with the Group’s financial partners. Stefan will be based in Zurich and will report directly to Chris Merry, Group CEO.
Stefan has 27 years’ experience in investment and private banking, as well as asset and fund management, and has worked in the US, Europe, and APAC. He joins Stonehage Fleming from UBS where he was Head of Asset Servicing Europe. Stefan joined UBS in 2006 in the Investment Bank where he held various risk positions and was responsible for enhancing its operational risk framework. He was a founding member of the Asset Servicing business in UBS, which included the creation of an institutional wealth platform and solutions for UHNW and institutional clients. Prior to UBS he worked as a risk and management consultant leading global regulatory and banking programmes.
Stonehage Fleming’s Financial Services division forms the fourth pillar of business for the Group, adding to Family Office, Investment Management and Corporate, Legal & Tax Advisory Services.
Commenting on the appointment, Chris Merry, Group CEO of Stonehage Fleming, said: “It is a pleasure to welcome Stefan to Stonehage Fleming. He brings a unique range of client servicing and operational skills and has extensive process and product knowledge of the financial services industry. The combination of Stefan’s commercial and operational acumen, alongside his strategic vision, will be invaluable to the Group as we continue to support some of the world’s leading families and wealth creators across generations and geographies.”
Stefan Flachsmann said: “I am delighted to join Stonehage Fleming to manage and develop the Group’s Financial Services offering. Providing families with state-of-the-art financial solutions underpinned by high quality operational support and execution is key to enable strategic advice and planning services. These combined all help discerning clients to address the challenges of creating and preserving wealth. Stonehage Fleming is a widely respected adviser to many of the world’s leading families and wealth creators and I look forward to being part of the team.”
ENDS
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey / Isabel Garnon
E: stonehagefleming@montfort.london
T: +44 7738 912267 / +7772 207 207
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stonehage Fleming, one of the world’s leading independent international multi-Family Offices, has signed a lease for their new London office at 6 St James’s Square, taking over 3 floors which will be refurbished and upgraded to allow for modern working practices. This move allows the company to consolidate its operations onto fewer floors but over a larger overall space in a manner which enhances collaboration across the many different services that the company offers to its clients. Stonehage Fleming will complete the move from their current offices in Suffolk Street, by late Summer or early Autumn 2022.
Chris Merry, Group CEO of Stonehage Fleming said:
“We are excited to move to such a prestigious London location and continue serving our UK and international clients from a larger and more modernized space. This move marks a new chapter for Stonehage Fleming, having been in Suffolk Street since 2007, and it will embrace the next period of growth.”
6 St James’s Square is owned by Pontegadea, a Spanish firm, and currently entirely let to Rio Tinto. Stonehage Fleming are sub-leasing three floors in the building from Rio Tinto until 2029. Savills acted on the transaction on behalf of Stonehage Fleming.
ENDS
MEDIA CONTACTS
Montfort Communications
stonehagefleming@montfort.london
Pippa Bailey | +44 7738 912267
Izzy Garnon | +44 7772207207
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at 1 February 2022
Stonehage Fleming, one of the world’s leading international Family Offices, announces the expansion of its Wealth Planning team with the appointment of Nick Toubkin as Director.
Nick will work closely with the existing team and assist in developing and delivering the Wealth Planning offering to the UK and international markets. He will be based in the firm’s London office and will report to Susie Hillier, Partner and Head of Wealth Planning. His appointment is effective immediately.
Nick has over 15 years’ experience in private wealth management. He joins Stonehage Fleming from Strabens Hall Ltd, where he was Senior Client Director, member of the Investment Committee and Senior Management team. He was responsible for advising ultra-high-net-worth (UHNW) and high-net-worth (HNW) international clients on investment consulting, financial planning and wealth structuring services. Prior to that, Nick was a Financial Planner and Wealth Manager at Tilney and in 2006 he began his career at Coutts, appointed to Director and Wealth Manager in 2012. Nick holds a Master of Business Administration (MBA) from IMD Business School, Switzerland.
Stonehage Fleming Wealth Planning sits within the wider Stonehage Fleming Group and provides integrated financial planning and investment advice in the UK across investments, pensions and protection.
Commenting on the appointment Susie Hillier, Head of Wealth Planning, said: “We are very pleased to welcome Nick to the Wealth Planning team. Close relationships and a deep understanding of our clients is at the heart of Stonehage Fleming’s offering. Nick’s wealth of expertise advising international UHNW and HNW individuals with complex needs makes him well suited to contribute significantly to our rapidly expanding, talented team.”
Nick Toubkin said:
“I am thrilled to join Stonehage Fleming. The firm’s depth of knowledge and experience across a range of advisory areas is unparalleled, which combined with its established pedigree and international footprint will continue to make Stonehage Fleming a firm of choice for discerning HNW and UHNW clients. It is an exciting time for me to join the company, and I’m very pleased to have the chance to contribute to the future growth of the firm.
“The needs of our clients are constantly evolving and we as advisers must be able to offer broader servicers and have a deeper understanding of the issues they may face. Stonehage Fleming’s practical wisdom that comes from years of working with similar clients means that they are uniquely positioned to service both the most complex of needs, as well as those which are straightforward. It is an exciting time for the company and it gives me great pleasure to be a part of the journey.”
ENDS
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey
stonehagefleming@montfort.london
+44 7738 912267
NOTES TO EDITORS
ABOUT STONEHAGE FLEMING
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at 1 February 2022
Stonehage Fleming (“Stonehage Fleming” or “the Group”), one of the world’s leading international multi-family offices, today announces that it has agreed to acquire the business and assets of Rootstock Investment Management (“Rootstock”), an investment firm based in South Africa.
On completion of the transaction, which is subject to regulatory approval, Stonehage Fleming will acquire all the operating activities of Rootstock, including the Rootstock SCI Worldwide Flexible Fund and the Rootstock Global Equity UCITS Fund. This will bring additional scale in AUM and further investment expertise, together with an on the ground presence in Stellenbosch, further strengthening Stonehage Fleming’s position in the South African domestic market.
Subject to regulatory approval, Rootstock Global Equity UCITS Fund will be amalgamated with Stonehage Fleming’s flagship Global Best Ideas Equity fund (“GBI”), managed by Gerrit Smit, Head of Stonehage Fleming Global Equity Management. Rootstock SCI Worldwide Flexible Fund will be renamed the Stonehage Fleming SCI Worldwide Flexible Fund; it will continue to be managed by Johan Barkhuysen, reporting to Gerrit in London.
On completion, Rootstock founder Thys du Toit will join Stonehage Fleming as a Partner.
Chris Merry, Stonehage Fleming Group CEO commented: “We warmly welcome Rootstock and its clients to Stonehage Fleming. We have known Rootstock for many years and are confident of the cultural fit between the firms, already sharing a number of clients. This transaction continues our strategy of supplementing organic growth through select acquisitions and we will continue to look for companies which share Stonehage Fleming’s values and culture, as we have already demonstrated to positive effect with Cavendish in 2020, and Maitland in 2022.
Thys du Toit, founder of Rootstock Investment Management, commented: “Stonehage Fleming and Rootstock’s similar culture, core values and investment philosophy could not be better if by design. Stonehage Fleming is a firm whose investment acumen Rootstock holds in high regard and many of Rootstock’s clients already know and value Stonehage Fleming and Gerrit Smit, a respected industry leader. This new chapter within the Stonehage Fleming family presents an exciting opportunity for us all.”
Stonehage Fleming was advised on the transaction by Stonehage Fleming Advisory and Stonehage Fleming Law.
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey / Lola Adekaiyaoja
E: stonehagefleming@montfort.london
T: +44 7738 912267 / +44 7427 487 118
NOTES TO EDITORS
Stonehage Fleming is one of the world’s leading independently owned 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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stats as at end of September 2022
Stonehage Fleming (“the Group”), one of the world’s leading international Family Offices, announces the appointment of Stefan Flachsmann as Group Head of Financial Services.
In this newly created role, Stefan will be responsible for managing and developing Stonehage Fleming’s financial services offering. This includes the Group’s treasury, dealing and custody platforms, the Group’s financial counterparty relationships, and relationships with the Group’s financial partners. Stefan will be based in Zurich and will report directly to Chris Merry, Group CEO.
Stefan has 27 years’ experience in investment and private banking, as well as asset and fund management, and has worked in the US, Europe, and APAC. He joins Stonehage Fleming from UBS where he was Head of Asset Servicing Europe. Stefan joined UBS in 2006 in the Investment Bank where he held various risk positions and was responsible for enhancing its operational risk framework. He was a founding member of the Asset Servicing business in UBS, which included the creation of an institutional wealth platform and solutions for UHNW and institutional clients. Prior to UBS he worked as a risk and management consultant leading global regulatory and banking programmes.
Stonehage Fleming’s Financial Services division forms the fourth pillar of business for the Group, adding to Family Office, Investment Management and Corporate, Legal & Tax Advisory Services.
Commenting on the appointment, Chris Merry, Group CEO of Stonehage Fleming, said: “It is a pleasure to welcome Stefan to Stonehage Fleming. He brings a unique range of client servicing and operational skills and has extensive process and product knowledge of the financial services industry. The combination of Stefan’s commercial and operational acumen, alongside his strategic vision, will be invaluable to the Group as we continue to support some of the world’s leading families and wealth creators across generations and geographies.”
Stefan Flachsmann said: “I am delighted to join Stonehage Fleming to manage and develop the Group’s Financial Services offering. Providing families with state-of-the-art financial solutions underpinned by high quality operational support and execution is key to enable strategic advice and planning services. These combined all help discerning clients to address the challenges of creating and preserving wealth. Stonehage Fleming is a widely respected adviser to many of the world’s leading families and wealth creators and I look forward to being part of the team.”
ENDS
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey / Isabel Garnon
E: stonehagefleming@montfort.london
T: +44 7738 912267 / +7772 207 207
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com
Stonehage Fleming, one of the world’s leading independent international multi-Family Offices, has signed a lease for their new London office at 6 St James’s Square, taking over 3 floors which will be refurbished and upgraded to allow for modern working practices. This move allows the company to consolidate its operations onto fewer floors but over a larger overall space in a manner which enhances collaboration across the many different services that the company offers to its clients. Stonehage Fleming will complete the move from their current offices in Suffolk Street, by late Summer or early Autumn 2022.
Chris Merry, Group CEO of Stonehage Fleming said:
“We are excited to move to such a prestigious London location and continue serving our UK and international clients from a larger and more modernized space. This move marks a new chapter for Stonehage Fleming, having been in Suffolk Street since 2007, and it will embrace the next period of growth.”
6 St James’s Square is owned by Pontegadea, a Spanish firm, and currently entirely let to Rio Tinto. Stonehage Fleming are sub-leasing three floors in the building from Rio Tinto until 2029. Savills acted on the transaction on behalf of Stonehage Fleming.
ENDS
MEDIA CONTACTS
Montfort Communications
stonehagefleming@montfort.london
Pippa Bailey | +44 7738 912267
Izzy Garnon | +44 7772207207
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at 1 February 2022
Stonehage Fleming, one of the world’s leading international Family Offices, announces the expansion of its Wealth Planning team with the appointment of Nick Toubkin as Director.
Nick will work closely with the existing team and assist in developing and delivering the Wealth Planning offering to the UK and international markets. He will be based in the firm’s London office and will report to Susie Hillier, Partner and Head of Wealth Planning. His appointment is effective immediately.
Nick has over 15 years’ experience in private wealth management. He joins Stonehage Fleming from Strabens Hall Ltd, where he was Senior Client Director, member of the Investment Committee and Senior Management team. He was responsible for advising ultra-high-net-worth (UHNW) and high-net-worth (HNW) international clients on investment consulting, financial planning and wealth structuring services. Prior to that, Nick was a Financial Planner and Wealth Manager at Tilney and in 2006 he began his career at Coutts, appointed to Director and Wealth Manager in 2012. Nick holds a Master of Business Administration (MBA) from IMD Business School, Switzerland.
Stonehage Fleming Wealth Planning sits within the wider Stonehage Fleming Group and provides integrated financial planning and investment advice in the UK across investments, pensions and protection.
Commenting on the appointment Susie Hillier, Head of Wealth Planning, said: “We are very pleased to welcome Nick to the Wealth Planning team. Close relationships and a deep understanding of our clients is at the heart of Stonehage Fleming’s offering. Nick’s wealth of expertise advising international UHNW and HNW individuals with complex needs makes him well suited to contribute significantly to our rapidly expanding, talented team.”
Nick Toubkin said:
“I am thrilled to join Stonehage Fleming. The firm’s depth of knowledge and experience across a range of advisory areas is unparalleled, which combined with its established pedigree and international footprint will continue to make Stonehage Fleming a firm of choice for discerning HNW and UHNW clients. It is an exciting time for me to join the company, and I’m very pleased to have the chance to contribute to the future growth of the firm.
“The needs of our clients are constantly evolving and we as advisers must be able to offer broader servicers and have a deeper understanding of the issues they may face. Stonehage Fleming’s practical wisdom that comes from years of working with similar clients means that they are uniquely positioned to service both the most complex of needs, as well as those which are straightforward. It is an exciting time for the company and it gives me great pleasure to be a part of the journey.”
ENDS
FOR FURTHER INFORMATION, PLEASE CONTACT
Montfort Communications
Pippa Bailey
stonehagefleming@montfort.london
+44 7738 912267
NOTES TO EDITORS
ABOUT STONEHAGE FLEMING
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at 1 February 2022
Stonehage Fleming is pleased to announce its partnership with Thrive Jersey to support GROW, a community-led initiative aimed at addressing multiple social issues that drive low mood and disengagement within the Jersey community.
GROW is an inclusive outdoor community project that plants, nurtures and harvests the widest array of fresh produce to be distributed to those on the island who do not have ready access to nutritional food. It provides innovative wellbeing, education and employment opportunities within an outdoor environment, whilst championing issues such as climate change, sustainable transport and community nutritional deficit. Thrive Jersey’s ethos is based on a collaborative approach to resolving community issues and in time aims to be mapped through initiatives including the United Nations Sustainable Development Goals (UN SDGs), and GROW aligns to no fewer than eleven of the seventeen goals.
According to the Jersey Statistics Unit approximately 26% of all households and 23% of individuals were in relative low income, including over half of single parent families, one in three working-age adults, one in three children and one in three pensioners1. This has a direct impact on the affordability of fresh fruit and vegetables which in turn leads to poor physical health, obesity and low self-esteem.
Guy Gilson, Partner at Stonehage Fleming said: “We are delighted to support Thrive Jersey’s GROW initiative and its mission to demonstrate how community, parishes and government can join together to implement inspiring and inclusive solutions to social issues. It is a pleasure to support such a worthy cause, and one which resonates so well with Stonehage Fleming’s social capital. We commend Andy on his vision for the welfare of those on the island.”
Andy Le Seelleur, Co-Founder of Thrive Jersey: “Jersey is facing an unprecedented crossroads in social development as a result of a number of internal and external threats including climate change, population growth, physical and mental health, Covid-19, reductions in agricultural green space and nutritional deficits within the lower socio-economic demographic. For many whose mood is low, the priority is more on surviving than thriving. GROW is an innovative project aimed at tackling Jersey’s social issues and we thank Stonehage Fleming for all their support to help influence positive change.”
1 - Jersey Statistics Unit - https://www.gov.je/Government/JerseyInFigures/EmploymentEarnings/Pages/EarningsIncomeStatistics.aspx
ENDS
FOR FURTHER INFORMATION, PLEASE CONTACT
MEDIA CONTACTS
Montfort Communications
Pippa Bailey
+44 (0)20 3770 7913
stonehagefleming@montfort.london
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 GBP60bn (USD55bn) of assets and includes an investment business with more than GBP16bn (USD21bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 16 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at end of December 2021
Thrive Jersey
Thrive Jersey was formed in 2019 and became an Incorporated Association in 2021. It is a fully-inclusive collective of inspiring individuals passionate about identifying the key social issues that drive low mood and disengagement within the island, raising awareness of these issues and seeking innovative, inspirational solutions. Having adopted the United Nations Sustainable Development Goals as its overarching strategy, Thrive is able to harness the powers of a common global community passionate about positive change in a smart, innovative way. Thrive Jersey focuses on addressing the root cause of social issues rather than simply fighting the fires and achieves this by:
Thrive has become a widely-recognised brand in Jersey and has played a fundamental role in the creation of the Jersey Suicide Prevention Alliance. Other pipeline initiatives include the creation of a community data portal and a centre for practical community skills development. Thrive’s founders have been responsible for successful community initiatives including Le Tournoi Charity Sports, Wetwheels Jersey and the Jersey Literary Festival. The GROW team includes the Founder of Plastic Free Jersey and The Good Jersey Life.
Stonehage Fleming announces completion of acquisition of private client services business of Maitland
01 Feb 2022
Stonehage Fleming (“Stonehage Fleming” or “the Group”), the leading independently owned international Multi Family Office, today announces the completion of its acquisition of the Private Client Services business of Maitland, a privately owned global advisory, administration and family office firm. The transaction was announced on 21 July 2021.
Maitland’s Private Client Services business is now part of Stonehage Fleming, bringing legal, fiduciary, corporate and investment management services in 9 locations internationally. The transaction adds £1bn of AUM and £15bn of AUA, taking Stonehage Fleming’s AUM to over £16bn and AUA to over £60bn.
Chris Merry, Stonehage Fleming Group CEO commented: “We are excited to welcome the Maitland Private Client Services team and their clients to Stonehage Fleming. Making selected acquisitions to enhance our proposition alongside organic growth is part of our strategic plan; we will continue to look for more opportunities to complement our existing business and bring our differentiated and comprehensive offering to new clients.”
ENDS
MEDIA CONTACTS
UK / Europe - Montfort Communications
Gay Collins/ Pippa Bailey
stonehagefleming@montfort.london
+44 7798 626282 / +44 7738 912267
South Africa - CDcom
Claire Densham / Lucie Osman
claire@cdcom.co.za / lucie@cdcom.co.za
+27 21 552 9935 / +27 21 813 6546
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 GBP60bn (USD75bn) of assets and includes an investment business with more than GBP16bn (USD20bn) under management for families and charities. Stonehage Fleming is c.50% owned by management and staff. The Group employs over 900 people in 14 locations around the world. Find out more at: www.stonehagefleming.com .
Statistics as at 1 February 2022
Microsoft sits at the forefront of designing and utilising the "fourth industrial revolution", according to manager of the Stonehage Fleming Global Best Ideas Equity fund Gerrit Smit, who explained the company had developed a "strong service and solution culture", shifting from its earlier sales driven one.
"While the provision of solutions in artificial intelligence, cloud computing, big data, the internet of things and cyber security are the growing future business drivers, in the interim Microsoft is totally entrenched in business and people's private lives," he said.
"The group is leading the design of new technologies, which in turn support economic growth.
"To illustrate the result of its success, the share has compounded close to double digits since its peak at the end of 1999 preceding the burst of the technology bubble."
BMO GAM Sustainable UMAP range divests from Microsoft
He added that the recent deal may mark Microsoft as an early leader in the race to the metaverse, owing largely to its "complete and self-sufficient" offering in the space.
"With the low interest rate it currently earns on its cash, and the relatively fair valuation they pay, the deal can be immediately accretive to earnings on completion.
"If well managed, and we have little reason for doubt, this one plus one can add up to well over three over time."
Read full article via Investment Week.