Fleming Family Office Agrees to Merge With Competitor Stonehage
Nov. 6 (Bloomberg) — Fleming Family & Partners is to merge with competitor Stonehage to form the largest independent multi- family office wealth manager in Europe, the Middle East and Africa.
The two London-based firms will oversee more than $43 billion of assets, they said in a joint statement today. The combined group, named Stonehage Fleming Family and Partners, will be majority owned by management and employees, they said.
The family offices are merging to expand across Europe and have an “extensive presence” in London and Switzerland, according to the statement. The group will employ more than 500 people in 14 offices across seven countries and serve more than 250 wealthy families.
The Fleming brand has existed ever since Robert Fleming, who originally worked as a bookkeeper at a jute mill in the slums of Dundee, Scotland, started the company in 1873, when he helped form the Scottish American Investment Trust. The family’s history includes Ian Fleming, the author who created James Bond.
To contact the reporter on this story: Julia Verlaine in London at jverlaine2@bloomberg.net To contact the editors responsible for this story: Simone Meier at smeier@bloomberg.net Jon Menon, Edward Evans
