Stonehage Fleming
| Founded | 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]
The group manages assets worth more than £18 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
[edit]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
[edit]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
[edit]Giuseppe Ciucci was appointed Executive Chairman of Stonehage Fleming in 2023, after serving as Managing Partner and Deputy Chairman for several years at the firm. He joined the Group in 1991 as a client manager and was appointed Partner in 1995 before becoming Chief Executive two years later.[11] Prior to Giuseppe Ciucci becoming Chairman to Stonehage Fleming’s Board in 2023, former Deloitte global Chairman John Connolly served as Chair from October 2019. He replaced Charles Erasmus, who stepped down after 20 years in the role.[12]
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.[13]
References
[edit]- ^ "Fleming Family Office to Merge With Competitor Stonehage". Bloomberg.com. 6 November 2014. Retrieved 26 May 2023.
- ^ "Stonehage Fleming Corporate Brochure". https://sf.azureedge.net/craft-cms/public/STONEHAGE-FLEMING-CORPORATE-BROCHURE-2.pdf
- ^ "Our Approach | Stonehage Fleming". www.stonehagefleming.com. Retrieved 25 April 2023.
- ^ "The International Family Office : Stonehage Fleming" (PDF). Stonehagefleming.com. Retrieved 15 January 2016.
- ^ "Fleming Family to merge with rival Stonehage | Financial Times". www.ft.com. Retrieved 15 August 2023.
- ^ "Stonehage and Fleming Family merge to form family office giant". citywire.com. Retrieved 15 August 2023.
- ^ "Acquisition – Company Announcement - FT.com". markets.ft.com. Retrieved 15 August 2023.
- ^ "Stonehage Fleming to acquire Cavendish Asset Management". 23 April 2020. Retrieved 15 August 2023.
- ^ Brusnahan, Patrick (3 February 2022). "Stonehage Fleming completes acquisition of Maitland private client services". Private Banker International. Retrieved 25 April 2023.
- ^ Sidhika, Anika (3 March 2023). "Rootstock Investment Management acquired by Stonehage Fleming". Private Banker International. Retrieved 25 April 2023.
- ^ "Stonehage Fleming appoints new CEO". InternationalInvestment. 5 September 2019. Retrieved 15 August 2023.
- ^ "Stonehage Fleming CEO steps down after 22 years". citywire.com. Retrieved 15 August 2023.
- ^ "Press & Media | Stonehage Fleming". www.stonehagefleming.com. Retrieved 15 May 2023.
External links
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