Stonehage Fleming
{{Use dmy dates|date=August 2023}}
{{Short description|International multi-family office}}
{{Infobox company
| name = Stonehage Fleming
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| foundation = {{Start date and age|1873}}
| founder = Robert Fleming
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| homepage = [http://www.stonehagefleming.com stonehagefleming.com]
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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.{{Cite news |date=6 November 2014 |title=Fleming Family Office to Merge With Competitor Stonehage |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2014-11-06/fleming-family-office-to-merge-with-competitor-stonehage |access-date=26 May 2023}}
The group manages assets worth more than £18 billion and employs over 900 people across 19 offices and 14 geographies."Stonehage Fleming Corporate Brochure". https://sf.azureedge.net/craft-cms/public/STONEHAGE-FLEMING-CORPORATE-BROCHURE-2.pdf
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.{{Cite web |title=Our Approach {{!}} Stonehage Fleming |url=https://www.stonehagefleming.com/about-us |access-date=25 April 2023 |website=www.stonehagefleming.com}}
Stonehage Fleming announced the appointment of Stuart Parkinson as Group CEO in January 2025.{{Cite web |last=Sidhika |first=Anika |date=2025-01-20 |title=Stonehage Fleming names group CEO |url=https://www.privatebankerinternational.com/news/stonehage-fleming-names-group-ceo/ |access-date=2025-04-14 |website=Private Banker International |language=en-US}}{{Cite web |last=McGachey |first=Kristen |title=Stonehage Fleming hires ex-HSBC private bank veteran Stuart Parkinson as CEO |url=https://www.fnlondon.com/articles/stonehage-fleming-hires-ex-hsbc-private-bank-veteran-stuart-parkinson-as-ceo-6d3c6400 |access-date=2025-04-14 |website=www.fnlondon.com |language=en-GB}}{{Cite web |url=https://www.stonehagefleming.com/media/stonehage-fleming-appoints-stuart-parkinson-as-group-ceo |access-date=2025-04-14 |website=www.stonehagefleming.com}}
History
Fleming traces its origins back to 1873 when Dundee-born financier Robert Fleming founded merchant bank Robert Fleming & Co.{{cite web|url=http://www.stonehagefleming.com/downloads/brochure/brochure.pdf|title=The International Family Office : Stonehage Fleming|website=Stonehagefleming.com|accessdate=15 January 2016}} 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.{{Cite web |title=Fleming Family to merge with rival Stonehage {{!}} Financial Times |url=https://www.ft.com/content/34570892-65ac-11e4-a454-00144feabdc0 |access-date=15 August 2023 |website=www.ft.com}}
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.{{Cite web |title=Stonehage and Fleming Family merge to form family office giant |url=https://citywire.com/wealth-manager/news/stonehage-and-fleming-family-merge-to-form-family-office-giant/a782257 |access-date=15 August 2023 |website=citywire.com}}
On 21 December 2018, Caledonia Investments plc announced that it had agreed to acquire a minority stake in Stonehage Fleming & Family Partners Limited.{{Cite web |title=Acquisition – Company Announcement - FT.com |url=https://markets.ft.com/data/announce/detail?dockey=1323-14143207-7KOS8E70CGUKVJL3JOFMI1BQ00 |access-date=15 August 2023 |website=markets.ft.com}}
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.{{Cite web |date=23 April 2020 |title=Stonehage Fleming to acquire Cavendish Asset Management |url=https://www.investmentweek.co.uk/news/4014318/stonehage-fleming-acquire-cavendish-asset-management |access-date=15 August 2023 |website= |language=en}}
In January 2022, Stonehage Fleming completed the acquisition of the private client services business of Maitland{{Cite web |last=Brusnahan |first=Patrick |date=3 February 2022 |title=Stonehage Fleming completes acquisition of Maitland private client services |url=https://www.privatebankerinternational.com/news/stonehage-fleming-maitland/ |access-date=25 April 2023 |website=Private Banker International |language=en-US}}
In 2023, Stonehage Fleming acquired the South-Africa based investment management firm Rootstock.{{Cite web |last=Sidhika |first=Anika |date=3 March 2023 |title=Rootstock Investment Management acquired by Stonehage Fleming |url=https://www.privatebankerinternational.com/news/rootstock-investment-management-acquired-by-stonehage-fleming/ |access-date=25 April 2023 |website=Private Banker International |language=en-US}}
People
Giuseppe Ciucci was appointed executive chairman in 2023, having been managing partner and deputy chairman for several years. He joined in 1991 as a client manager and was appointed partner in 1995 before becoming chief executive two years later.{{Cite web |date=5 September 2019 |title=Stonehage Fleming appoints new CEO |url=https://www.internationalinvestment.net/news/4004569/stonehage-fleming-appoints-ceo |access-date=15 August 2023 |website=InternationalInvestment |language=en}} John Connolly had been chair from October 2019. He replaced Charles Erasmus, who stepped down after 20 years in the role.{{Cite web |title=Stonehage Fleming CEO steps down after 22 years |url=https://citywire.com/wealth-manager/news/stonehage-fleming-ceo-steps-down-after-22-years/a1265148 |access-date=15 August 2023 |website=citywire.com}}
References
{{Reflist}}
External links
- [http://www.stonehagefleming.com/ Official website]
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Category:Investment management companies of the United Kingdom
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