The Spear's Indices - Spear's Magazine

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Each issue of Spear’s Magazine contains an exclusive Index prepared by the experts at the Spear’s Research Unit identifying the very best providers of professional services to the high net worth audience. Comprehensive, authoritative and indispensible, these are the definitive lists of the top HNW advisers in Britain working in property, family law, wealth management, tax and trust, alternative assets and reputation management. Once a year the Indices are updated and expanded to form the core of the Spear’s 500, the bible of HNW advisers. Go to the drop down menu below for the latest indices of top professionals from the Spear’s Research Unit

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Wealth Managers 2020

  

Hugh Adlington

Close Brothers

Top Recommended HNW Wealth Management

Hugh Adlington’s debut in this index confirms the development of Close Brothers into a bona fide wealth management big-hitter. The managing director joined from Rathbones in 2018 and works alongside ‘partner in crime’ Andrew Hess to manage the portfolios of private clients and families. The firm has a ‘fantastic infrastructure’, he tells Spear’s, ‘especially on the research and risk side’. He says a third of assets he manages are from new clients rather than transfers: ‘You get a feeling that the cobweb is working.’ Despite the recent market recovery, Adlington is reticent over expectations for the year ahead. ‘The crystal ball is pretty cloudy,’ he says.

David Alexander

Pall Mall Family Office

Top Ten Family Office Services

David Alexander founded AAG Wealth Management in 1995 and stayed until it was subject to a management buyout in 2016. ‘Wealth management is in the blood,’ he says, ‘but we started Pall Mall Family Office not so much to manage people’s assets, but to manage their lives.’ The firm aims to ‘liberate UHNW families from unwanted complexity in their lives whilst ensuring their legacy is protected for generations to come’. One way in which Alexander hopes to achieve this is with an encrypted cloud document storage platform, which makes clients’ documents quickly and securely available to the right people, regardless of where they are.

Charlotte Filsell

Sandaire

Top Ten Family Office Services

Charlotte Filsell, who spearheads Sandaire’s family relationships arm, gives Spear’s a view of how family offices are reacting to the crisis. While the initial shocks have forged a longer-term thinking among families, she says genuine philanthropic motivations ‘remain at the forefront of clients’ minds’. She cites one family assisting a charity whose resources had dried up. ‘The charity helps some of the most deprived people in the world,’ she says. ‘The family we work with has essentially provided a lifeline to help them through the crisis’. Filsell adds that some of her clients are seeing chances to invest in quality assets and get involved in businesses that are sheltered from the effects of similar crises.

Nick Astley

Progeny

Rising Stars Wealth Managers

Nick Astley is all about ‘clear communication’, especially during a crisis. ‘The investment world is notorious for its use of jargon, which we need to break down to help clients understand what is going on,’ he says. He believes there’s going to be ‘a real emphasis’ on ESG portfolios this year, as a direct result of a ‘reset’ in the way HNWs and professionals are looking at their investments post-coronavirus. Astley joined Progeny’s wealth arm in 2017. He found his calling in portfolio due diligence and joined its asset management arm to advise HNWs. He is proud of Progeny’s multi-pronged approach: ‘We have a range of offerings for clients under one roof.’

Steve Atkinson

Standard Chartered Private Bank

Top Recommended UHNW Wealth Managers

2019 was the third consecutive year of top-line growth for Standard Chartered, with the business generating income of $577 million (up 12 per cent year-on-year). It has also continued to drive performance by incorporating ESG considerations into investment decisions. ‘This is one of the key pillars on which our sustainability aspirations are built to truly be a force for good,’ says Steve Atkinson. ‘Understandably, many clients are concerned’ about the pandemic, but Atkinson feels the strength of client relationships and the trust between both parties has come into its own: ‘We’ve been able to minimise any disruption to our client service.’

Tim Bailey

Top Recommended HNW Wealth Managers

Cazenove is a staple in the investment world, with a loyal and long-standing base of both clients and staff. It’s also ahead of the curve, says portfolio director Tim Bailey: ‘ESG investing is coming to the fore now, which is great because we already had a large and well-resourced team in place.’ How has the firm responded to a pandemic? ‘There were a few concerned conversations with clients,’ says Bailey. ‘The key, however, was to communicate a strong central message: the darkest hour is always just before the dawn. Stay invested.’ He has since seen a strong recovery, with themes already present in portfolios now yielding dramatic returns.

James Barton

Featherstone Partners

Top Recommended UHNW Wealth Managers

‘It was clear to us in February that this was quite serious,’ James Barton tells Spear’s. ‘Ten per cent of the population was in lockdown and yet the market was at an all-time high, which seemed odd.’ While rivals’ portfolios were full of oil and travel, Featherstone focused on technology, healthcare and other companies suited to a Covid-19 society. ‘There are lots of new themes coming through, such as cloud companies, online retail, delivery companies,’ says Barton. ‘We’re not traditional income-type investors,’ he adds. The approach is working – AuM is up 200 per cent from last year and the firm decided to stop marketing in January.

Hugo Bedford

JM Finn

Top Recommended HNW Wealth Managers

Hugo Bedford was running HSBC UK’s HNW investment management desk before moving to JM Finn in 2006, where he has been instrumental in the firm’s move from stockbroker to wealth manager. ‘Our success has been our ability to listen and understand our clients’ needs, something my team very much focuses on,’ he previously told Spear’s. Bedford has a personal book worth over £400 million and oversees JM Finn’s 16 investment managers, who look after £3 billion AuM. He started his career at James Capel after graduating in economics and politics from Durham University. Outside work, he is a keen fisherman and has taken up open-water swimming

Jonathan Bell

Stanhope Capital

Top Recommended UHNW Wealth Managers

‘Our AuM is growing faster this year than last year,’ Jonathan Bell tells Spear’s. As the CIO of Stanhope Capital, which oversees around $11 billion, he looks after a select few families, as well as semi-institutional clients. ‘There’s a real worry among clients about what the long-term impact is going to be,’ he says of the Covid crisis. ‘Not necessarily the long-term impact on the market, but what happens to longterm growth rates, currency, tax rates, regulations, legislation…’ Bell says the current volatility ‘is just another nail in the coffin’ of firms that have performed poorly for years: ‘Traditional managers that had a UK or European bias are really struggling.’

Jamie Black

Sarasin & Partners

Top Recommended UHNW Wealth Managers

The past 12 months have yielded ‘particularly strong’ results for Jamie Black, who says Sarasin has retained ‘top-quartile’ position versus peer groups across all risk profiles. ‘More than ever, our clients have benefited from our global thematic investment approach and our sharp focus on analysing companies’ ESG factors,’ he says. ‘This has delivered consistent outperformance both in the rising markets of 2019 and in the challenging circumstances we have all faced in 2020.’ Black is is looking forward to launching ‘a deep green investment strategy’, to help clients identify companies holding solutions to problems such as Covid-19 and climate change.

Chris Boon

Close Brothers

Top Ten HNW Wealth Manager

‘We were fairly early in identifying the risk to economies,’ says Chris Boon of the Covid-19 pandemic. ‘We had raised some cash because we expected markets to fall, and had communicated this to clients.’ March was certainly challenging, but Boon and the team at Close Brothers chose to try to extract the positives and re-allocate funds to areas that are doing well. ‘Our clients are very pleased that we’ve taken the initiative,’ he says. When Spear’s speaks to Boon in May, portfolios have already recovered significantly from the dark days of March, but he is insistent upon the necessity of not falling back into old habits. ‘We’re viewing the crisis not as something that we just have to navigate through, but a chance to properly construct portfolios for what the world will look like in 2021,’ he tells us. For example, he is cognisant of the risks of falling incomes […]

Jim Bouley

Julius Baer

Top Recommended UHNW Wealth Managers

Jim Bouley’s will celebrate his 40th anniversary in wealth management next year. The Arizona native has seen markets at their best and worst – so what’s his advice to clients worried about the current situation? ‘Try not to be too clever when these markets melt and rebound when they do,’ he tells Spear’s from his home in south London. ‘You need to have a strategic asset allocation that is designed to survive the types of disruptions that we’ve seen.’ Bouley says the investment piece of his department did ‘exceptionally well’ through the market chaos of Q1 and portfolios are performing ‘excellently’. He adds: ‘The fact that I’ve been through this many times before brings clients comfort.’

Roddy Boulton

Deutsche Bank

Top Recommended UHNW Wealth Managers

Roddy Boulton is a highly respected private banker who left Credit Suisse after ‘nine fab years’ in June 2019 to grow Deutsche Bank’s UK wealth management offering. The expansion bid also captured a senior colleague, Piers Harris. Boulton has previously told Spear’s that ‘wealth management is one part of one arrow in the quiver’, with his role encompassing aspects of corporate finance, private equity and M&A advice. His MD role also enables him to look after the real estate, strategic lending and concentrated equity aspects of wealth and investment. Boulton began his career in finance at JP Morgan in 1990, and has held specialised roles at Barclays and Currenex.

Peter Clark

Tilney

Top Recommended HNW Wealth Manager

Peter Clark, Tilney Group’s managing director since 2006, has told Spear’s that when it comes to smart investments it’s all a matter of experience and keeping your head ‘when the markets go into a tailspin’. Clark believes in capital preservation as a key strategy, and has revealed that ‘our portfolios look very different from the wider stock market’, alluding to quality assets that will weather any storm. Spear’s hears that Tilney’s total net flows have increased in the first half of 2020 compared to the same period in 2019. There’s a new development too: the group is joining forces with Smith & Williamson to oversee £44 billion in AuM.

Chris Cole

Top REcommended HNW Wealth Manager

Having started in 2017, Lockhart Capital Management’s AuM of £400 million is not to be sniffed at. ‘It’s really building into the shape that we want it to be,’ says founding partner Chris Cole. ‘It was designed to be a boutique firm, but we are adding capacity and took a key hire last year.’ Lockhart has been ahead of the curve in terms of technology. In fact, when it was set up it had the capability to be a totally virtual service. Although it ultimately decided against this option (‘We thought it was impersonal’), the firm’s progressive position has proved invaluable. ‘The main thing is just being available. The crisis has not crystallised into physical loss for our clients.’

Charles Costa Duarte

Rothschild & Co

Top Ten UHNW Wealth Managers

‘The big challenge for wealth managers now is to reassure clients and keep them calm.’ So says Charles Costa Duarte, a director at Rothschild & Co and a former Spear’s Wealth Management Award-winner. Under the firm’s co-head of wealth management, Helen Watson, and her right-hand man, James Morrell, Costa Duarte co-leads a team of four client advisers, which is one of about ten such units serving clients from the private bank’s London office. There is something about the former Household Cavalryman’s measured, affable manner that suggests keeping clients’ emotions and financial affairs on an even keel comes naturally. Indeed, he was once entrusted to handle a ‘beauty parade’ of new lawyers on behalf of a longstanding client who had been taken ill. When that client later passed away, Costa Duarte was asked by the family to give a tribute at his memorial service. One of the things that marks Rothschild […]

Bertie Dannatt

Ruffer

Top Recommended HNW Wealth Manager

In the second half of March, Ruffer chose to take a gamble with its strategy as the extent of the pandemic made itself known. Its £434 million trust is traditionally defensive, but extreme times call for extreme measures, and Ruffer pivoted on its position to capture the upside of the market. The move paid off, and the firm had one of the best months ever. Net asset value rose by 5.8 per cent in April, while the company’s share price jumped by 10 per cent – double the increase seen in the FTSE All Share. One of the key figures at the firm is Bertie Dannatt, who became investment director in 2015. He joined Ruffer as a graduate trainee in 2008, after five years in the Army. Hopefully his father, General Sir Richard Dannatt, former head of the Army, approves of his new career.

Etienne d’Arenberg

Mirabaud

Top Recommended UHNW Wealth Managers

When Spear’s catches up with Etienne d’Arenberg, Mirabaud’s head of UK wealth management is in a philosophical mood. ‘Change is a continuum in our industry and our clients change and stay the same in the same sentence,’ he tells us from Geneva. ‘Most of our clients turn to us to ensure that their wealth is safe, preserved and invested according to their specifications,’ he says. Before Covid-19, d’Arenberg – who is also a limited partner – reports positive noises at the Swiss firm. Last year saw a string of senior hires and the opening of a new subsidiary in Abu Dhabi. ‘It shows that people of quality and weight look at us favourably and trust us,’ he says.

JamesdeBroe Ferguson Investec

James de Broë-Ferguson

Investec

Top Ten HNW Wealth Manager

‘Very opaque’ is the description that Investec’s amiable investment director James de Broë-Ferguson offers when talking about what the future holds for markets. What this means for his practice, he tells Spear’s, is ‘managing clients’ expectations and communicating those thoughts to them as you manage their portfolios through the economic cycle’. De Broë-Ferguson, a former Ruffer investment manager who began his City career in 1988 as a hull broker at Lloyd’s, manages predominantly discretionary portfolios on behalf of private individuals, their pensions, trusts, charities and private family unit trusts. He’s a firm believer in the importance of active management – particularly in these fraught times: ‘Clients need the reassurance that with active management centring on capital preservation there is a better solution than some of the more reactionary plunges that can be seen across indices.’ Known for a ‘loyal client base and his gracious good humour,’ according to one industry […]

John de Salis

Mirabaud

Top Ten Swiss Wealth Managers

Part British, Swiss and Italian, the charming John de Salis – who has degrees in philosophy from the Sorbonne and classics from Cambridge – is the Renaissance man of this index. De Salis reports a ‘big’ 2019 for Geneva-based Mirabaud, with new offices in Abu Dhabi, Montevideo and Sao Paulo as well as the reinforcement of its private equity offering, which focuses on the emerging field of luxury sustainability. ‘We don’t suffer from the pressures of quarterly earnings,’ he says. We can take a 20-year view on all the investments we make.’ It’s been a torrid period, but clients ‘are happy to see that portfolios are holding up just fine’.

Nuno Tarrana de Sousa

Pictet

Top Recommended UHNW Wealth Managers

Nuno Tarrana de Sousa entered the investment world from a more clinical landscape. The Imperial College biochem grad started his career overseeing the financial aspects of laboratory services before applying for a role at Goldman Sachs, where he managed the wealth of Iberian and Latin-American UHNWs. He joined Pictet as a COO for its UK wealth management arm in 2014 and has led various regulatory projects, including the bank’s Brexit contingency planning. He was also instrumental in streamlining his department’s services to give its UK clients seamless access to other entities and services within the wider group.

Ross Elder

Lincoln Private Investment Office

Top Ten HNW Wealth Manager

Ross Elder is the driving force behind Lincoln Private Investment Office, which looks after about 150 families with minimum investments of £3 million. Lincoln was set up with the help of a group of clients looking to create a genuinely independent wealth management firm, and these founding principles still apply today. It focuses on looking after the current client base rather than searching for the next bit of the business, eschewing any form of advertising or marketing to rely on word-of-mouth endorsements. ‘We’ve been extremely fortunate in that we’ve continued to perform well and deliver what our clients say is good service. They continue to refer friends, family members and business partners,’ says Elder. Lincoln asks everyone who works there to invest their own money. ‘Every penny of mine and my wife’s money is invested in Lincoln in the same way as our clients,’ he says. ‘So if we lose […]

Georgios Ercan

Dolfin

Top Recommended Wealth Managers

Astute, affable and straight talking, Georgios Ercan is the front-man handling key client relationships at Dolfin. One of the main conclusions Ercan drew from the financial crisis was the importance of strong client relationships ‘built on being transparent, honest, solution-driven and available whenever my clients needed me’. At Dolfin, which also has an office in Malta, customer care is a hallmark of his approach – one which has helped build the firm’s assets under management and control (£4 billion) during the Covid-19 crisis, thanks in no small measure to Dolfin’s impressive head of investment management, Simon Black.

Jean-Claude Erné

Pictet

Top Ten Swiss Wealth Managers

Jean-Claude Erné had an unusual start to his career after he graduated as a law student in 1988. He was considering journalism to travel and better understand the world, but a meeting with Charles Pictet changed everything. He persuaded Erné that he could accomplish all those things through banking. Today, Erné sits as Pictet’s head of wealth management for French-speaking Switzerland. He has previously served as managing director of Pictet & Cie (Asia) Ltd in Singapore, and CEO of Pictet Wealth Management in Asia, and moved back to Switzerland in August 2011 to take up the post of CEO of family office services.

Andreas Feller

Julius Baer

Top Ten Swiss Wealth Managers

For Andreas Feller, Julius Baer’s head of German-speaking Switzerland, what marks his firm out is its ‘proximity to clients’. ‘We are absolutely advice-led,’ Feller tells Spear’s. Clients have their own relationship managers and the firm looks after them ‘on a personal level’. The bank continues to work purely with private individuals, mainly entrepreneurs and multi-gen families. Feller says the bank has been ‘very lucky’ throughout the recent turbulence. ‘We are strongly convinced that asset allocation is key in everything you do when it comes to wealth management, also in times of crisis,’ he says. ‘Even during this time, we have happy clients.’

Logie Fitzwilliams

Brown Advisory

Top Recommended UHNW Wealth Managers

Logie Fitzwilliams opened Brown Advisory’s London office in 2008, bringing bespoke investment portfolios and strategic advice. ‘Everyone who works at Brown is a shareholder in the business. This independent ownership creates a powerful alignment of interests: we treat our clients’ capital like it’s our own,’ he says. During the crisis, the team has changed its annual conference to a podcast series and has put a new focus on sustainable investing. ‘It is well known that all types of investor are increasingly interested in where and how their capital is being deployed, and we enjoy engaging with clients about how we can align their portfolios with their values,’ says Fitzwilliams.

Matthew Fleming

Stonehage Fleming

Top Ten Family Office Services

A consummate authority of the family office world, Stonehage Fleming’s head of family governance and succession is typically erudite when Spear’s asks what the crisis has meant for clients. ‘From our experience, times of uncertainty and change tend to prompt our clients to reassess their families’ priorities and purpose,’ says Matthew Fleming, who’s responsible for helping clients pass on their legacy. ‘Generally, people will say that the greatest risk to their wealth is a plummeting stock market or an economy plunging into recession. However, we have found that a lack of common purpose and poor family communication can be as damaging or even more damaging.’

Thomas Frauenlob

UBS

Top Ten Swiss Wealth Managers

Thomas Frauenlob oversees the investment strategies and relationship management services at UBS’s Zurich office. The bank’s 2020 messaging presents hard facts, covering the US presidential election to trade negotiations to fiscal policy. ‘Our recent UBS Investor Watch survey revealed that 72 per cent of investors describe the investment environment as more challenging than it was five years ago,’ the firm says. Frauenlob’s previous roles include heading up the Swiss equities division within UBS, leading the equity derivatives sales at Deutsche Bank and occupying ‘various positions’ at Goldman Sachs for nearly a decade.

Jonathan Gage

Keystone Family Advisers

Top Ten Family Office Services

‘Trust’ is the word that Jonathan Gage mentions several times to Spear’s when we catch up over the phone. The chartered accountant founded Keystone six years ago to advise international HNW and UHNW families on decisionmaking and governance. ‘What we’re able to do as a third party is bring that trust into difficult family conversations,’ he says. The pandemic is focusing the minds of his clients. ‘Covid-19 has brought out quite a lot of issues which were always there in the background,’ he explains. ‘Now families are actually sitting down and thinking about them and looking at the best ways forward. That’s been very cleansing and very positive.’

Rajiv Gaglani

Standard Chartered Private Bank

Rising Stars Wealth Managers

Rajiv Gaglani is a director with a private client background, whose primary role is to help investors to understand their wealth management strategies through the lens of complex tax matters, particularly those concerning resident non-doms in the UK. Gaglani was recruited to grow Standard Chartered Private Bank’s specialist wealth advisory arm to serve clients from Asia, Africa and the Middle East. He and his team support their cross-border wealth and tax planning needs by working closely with other intermediaries. After starting out at Grant Thornton in 2010, Gaglani moved on to PwC in 2014 and then Standard Chartered Private Bank in 2018.

Laurent Gagnebin

Rothschild & Co

Top Ten Swiss Wealth Managers

Laurent Gagnebin co-heads Rothschild & Co’s wealth management division, which has €36 billion under management, working in tandem with his London-based counterpart Helen Watson. He is also CEO of Rothschild & Co’s Swiss bank, which offers the typical suite of private banking services. Around two-thirds of clients are international. ‘They want to preserve their assets and grow them over time,’ he says. This, however, does not prevent clients from accessing the private markets. Its merchant banking division has €15 billion under management, where the group and employees co-invest their own assets alongside clients.

Peter Gale

C Hoare & Co

Top Ten HNW Wealth Managers

‘Times of crisis tend to be times of great opportunity to us,’ says Peter Gale. He tells Spear’s how in 2008, the UK’s oldest private bank proved itself as a ‘flight to safety’ for an influx of new customers. It’s a similar story with the coronavirus pandemic. ‘Whenever there’s uncertainty, we tend to do well,’ he adds. Gale heads up one of the four private banking teams at C Hoare & Co, as well as overseeing the firm’s tax department, developing regional strategy and managing a small portfolio of his own clients. Over the course of 2019 – the first full year under new CEO Steven Cooper – the bank embarked on a number of exciting new initiatives, including the opening of a new Cambridge office in March. He reports that the bank has been ‘incredibly well supported and embraced by the intermediary network’ in the city. The bank remains […]

Edward Goodchild

Chawker & Co

Top Ten Family Office Services

While Edward Goodchild’s clients have ‘enough wealth that they don’t have immediate concerns’ about the crisis, he says they are still not ‘above financial dislocation’. Therefore the services of Chawker & Co are needed more than ever. ‘The portfolios have shown great resilience,’ Goodchild confirms, adding that the firm has discouraged a knee-jerk response to major market falls and kept asset allocation broadly the same. He opts out of disclosing a value for the assets under Chawker’s management, deeming it an irrelevant metric: ‘I don’t mind how big or small the client is, I only care that it’s cost-effective for clients and commercially prudent for the business.’

Nicholas Grant

Punter Southall Wealth

Top Recommended Wealth Managers

Last year Psigma merged with sister company PSFM Ltd to become Punter Southall Wealth, meaning it is able to provide the full range of wealth management services from one entity. Nicholas Grant is excited about the shift and remains confident despite Covid-19. ‘We didn’t expect a pandemic, but we did factor in increased volatility from the US election, Brexit and other global factors,’ says Grant. ‘This led us to having high cash weightings and an overweight position in fixed interest during Q1.’ Punter Southall Wealth’s portfolios are protected well on the downside and made good gains in the recovery – an example of the firm’s nimble approach.

Bandish Gudka LGT Vestra

Bandish Gudka

LGT Vestra

Top Ten HNW Wealth Manager

Spear’s checks in on Bandish Gudka during the lockdown, and he is thrilled to talk. ‘In a really macabre sense, this half of the year is probably going to be my best half of the year I’ve had in a decade,’ he tells us. LGT Vestra’s star performer, and our 2017 HNW Asset Manager of the Year, says his mandates worth £80 million in the first quarter bring his total book to approximately £500 million. Gudka built this from scratch when he joined Vestra eight years ago, and he reveals that 99 per cent of the recent expansion comes from referrals. ‘If clients can trust you when the storm is hitting your shore, and they have that much confidence in you to say, “Look, we trust you to take that next step further,” that’s a big endorsement,’ he says. Gudka’s reputation for client service and ability to speak seven languages […]

Aastha Gurbax

JP Morgan Private Bank

Top Recommended UHNW Wealth Managers

‘We have to make sure that clients feel not just invested but engaged at this point,’ says Aastha Gurbax. JP Morgan’s $11 billion annual tech spend has been a boon in ‘busting bureaucracy’, she adds: ‘You’re not going to simply say, “Computer says no,” at this point in time.’ Gurbax is also mindful of the opportunities the current situation presents, especially in the big data industry, which she says will ‘quadruple in the next five years’. ‘Tech would be a component of anyone’s portfolio by virtue of the fact that 20 per cent of the S&P is now composed of tech companies,’ she explains. ‘The majority of the recovery is also being seen in this sector.’

Rennie Hoare

C. Hoare & Co

Top Recommended UHNW Wealth Managers

‘For nine out of every ten years, external commentators wonder why on earth we don’t have more risk in the business,’ says Rennie Hoare. When that tenth year rolls around, though, ‘they realise why we do things in the way we do’. ‘Our aim as a family is to perpetuate a sustainable family business, and aiming for perpetuity does not lead you to short-term, higher-risk profit maximisation.’ At 34, Hoare is head of philanthropy and is the youngest of the six partners at C Hoare & Co, which has £5 billion in deposits. He oversees a donoradvised fund run on behalf of 86 clients, which has already made £25 million in donations during the coronavirus crisis.

Charlie Hoffman, HSBC Private Bank

Charlie Hoffman

HSBC Private Banking

Top Ten UHNW Wealth Managers

Success, in terms of revenues for a wealth management business, will naturally follow if the service ‘puts the client at the centre of everything you do’. That is the mantra Charlie Hoffman lives by, and it will come as no surprise that his book is worth tens of billions of dollars. Just under $2 billion of that was captured in the form of new assets in the past 12 months. In Hoffman’s case especially, each client will have invested more than $30 million with the bank or possess more than $100 million. True to Hoffman’s philosophy, HSBC Private Banking’s structure of service forms a concentric circle around a client. The four pillars of its offering form a ‘virtual family office’ – there’s an investment team, a credit advisory team, global solutions advisers who provide the client with a direct link to the wider investment bank, and a dedicated wealth planning […]

Nick Hornby

Cerno Capital

Top Ten UHNW Wealth Managers

One of the reasons that working from home during lockdown hasn’t been unduly difficult for Nick Hornby is, he says, ‘performance has been so good’. Hornby tells Spear’s that Cerno Capital’s global multi-asset medium-risk strategy is up by 4.4 per cent from the beginning of 2020 until 31 May, and by 9.4 per cent for the previous 12 months. That compares to -7.2 per cent and -0.8 per cent respectively for the ARC Steady Growth PCI benchmarks. ‘Clients have been very supportive of us,’ adds Spear’s 2018 Outstanding Achievement award-winner. ‘We haven’t seen any redemptions. We’ve seen new inflows of money, particularly from some wealthy individuals who have been sitting on cash waiting for a time to invest. So we’ve been able to put some of their money to work.’ Cerno favours business with low or no debt, and earlier this year Hornby’s fellow managing partner James Spence took the […]

James Horniman

James Hambro

Top Recommended Wealth Managers

Although James Hambro’s portfolios did go down during the first quarter when coronavirus struck, the quality stocks that the firm tends towards have since rallied strongly. James Horniman reveals the keys to success during a crisis: ‘nimbleness’ and ‘communication’. ‘We’re able to make decisions quickly, so we took action very swiftly when this thing started to develop,’ he says. Horniman, who personally looks after about £800 million worth of assets, is clearly proud of the firm’s flexibility: ‘I’ve worked in enormous companies where planning takes months and years rather than weeks and months, and that’s just not us.’

Harinder Hundle

TwinFocus

Top Ten Family Office Services

A ‘small revolution in wealth management’ was how Spear’s described TwinFocus when it met London partner Harinder Hundle last year. Since completing its first full year in London, Hundle reports that the firm is continuing to go from strength to strength. ‘We talk about customisation and the way we tailor things around the family, and we talk about different elements of what they need,’ he says. The tailored services he’s offered in the past year include creating a dedicated fund vehicle and building a customised portfolio for a client after a liquidity event. ‘What we talk about is what we deliver for our families, which is a multi-family office solution that provides a single-family office experience,’ he says.

Andra Ilie

KPMG

Top Ten Family Office Services

KPMG’s senior manager of family office and governance Andra Ilie joined the firm from Knox Private Office last year. KPMG was advancing its plans for its ‘virtual’ offering before the world went into lockdown, Ilie tells Spear’s. A key reason, she says, is that the biggest issue for family offices is ‘delivering value’ – many are becoming ‘leaner’ to reduce risk and overheads. This is something KPMG is well suited to address, given the breadth and depth of experience the firm can draw on. ‘We have a cycle for family offices which ranges from establishing to growing, managing, preserving and passing on to the next generation,’ Ilie explains.

James Johnsen

Church House Investment Management

Top Recommended Wealth Managers

James Johnsen joined the investment world after a career in the military. The Old Etonian, who also has an MA in law from Cambridge, joined Church House in 2003 after holding positions at Merrill Lynch and Sotheby’s. Church House is a specialist fund and portfolio management service catering to HNWs, financial professionals and institutions. ‘Investing money is not only about shares, bonds, funds and portfolios,’ it says. ‘It begins with getting to know you – your level of investment experience, investible wealth and preferred time horizon.’ The company also has a multi-generational view when it comes to private wealth and takes pride in its independence

Jeremy Knowland

Citi Private Bank

Top Ten UHNW Wealth Managers

‘We probably had our strongest performance in terms of new client acquisition for the UK business than I can remember,’ announces Jeremy Knowland, who has been looking after UHNW clients at Citi for more than a decade. Discretionary portfolios have been resilient: ‘The latest ARC data shows that on a five-year cumulative basis, we’re in the top quartile on all of our main portfolio criteria.’ Knowland mainly serves clients who have a minimum of $25 million of liquidity. James Heddle, who reports to him, holds ‘one of the biggest books in the business’, according to one peer. Citi’s tech tools have helped in lockdown. He cites his Thursday calls with clients, which feature insights from the bank’s CIO, chief economist, and guests such as Mervyn King, Lord Hague and Larry Summers. ‘Certainly when it was very, very volatile, we made a point to over-communicate our views on the market to […]

Jeremy Knowland

Citi Private Bank

Top Ten UHNW Wealth Managers

‘We probably had our strongest performance in terms of new client acquisition for the UK business than I can remember,’ announces Jeremy Knowland, who has been looking after UHNW clients at Citi for more than a decade. Discretionary portfolios have been resilient: ‘The latest ARC data shows that on a five-year cumulative basis, we’re in the top quartile on all of our main portfolio criteria.’ Knowland mainly serves clients who have a minimum of $25 million of liquidity. James Heddle, who reports to him, holds ‘one of the biggest books in the business’, according to one peer. Citi’s tech tools have helped in lockdown. He cites his Thursday calls with clients, which feature insights from the bank’s CIO, chief economist, and guests such as Mervyn King, Lord Hague and Larry Summers. ‘Certainly when it was very, very volatile, we made a point to over-communicate our views on the market to […]

Annamaria Koerling

Delfin Private Office

Top Ten Family Office Services

‘Identify the staying power of your investment,’ says Annamaria Koerling, sharing the essence of her advice to international families since the start of the crisis. ‘We are focused on empowering families to put in place resilient and relevant solutions taking into consideration the financial, human, geographic and social dimensions that are so important to their well-being. We call it “future-proofing your wealth”.’ Koerling’s own business has changed too. After a ‘collaborative demerger’ she oversees the needs of complex international families under Delfin, while the rest of the operation provides domestic solutions under the banner of Owl Private Office Holdings.

Kate Leppard

Cazenove Capital

Top Ten UHNW Wealth Managers

‘We did a lot of work in 2019 on our digital capability, and it proved invaluable this year when we went into lockdown,’ says Kate Leppard over the phone. The reigning Spear’s UHNW Asset Manager of the Year spent much of March ‘hand-holding’ clients through turbulent markets. ‘I was more surprised about the lack of panic,’ she says of the mood. ‘Many clients lived through the great financial crisis. And I think in part it was because we were so proactive.’ It also helps that portfolios were ‘robust enough to weather the storm’. The proactivity Leppard talks about extends to more than reassuring clients. She strikes an ebullient tone when talking about an impending client app: ‘It will allow us to give clients the information they want, when they want and how they want it.’ Leppard joined Schroders (which bought Cazenove Capital in 2013) in 1990 from a short stint […]

Craig Lewis

Edmond de Rothschild

Top Recommended Wealth Managers

Craig Lewis is responsible for looking after Edmond de Rothschild’s key clients and family offices from its Monaco office. He says the business is five times bigger than a decade ago and has achieved organic growth with low staff turnover. ‘Our clients trust us,’ he tells Spear’s. ‘Our investment performance ranks us as one of – if not the – best and most consistent investment managers in Monaco.’ The group’s long-term thinking, stable balance sheet and conscientious approach to wealth set it apart. ‘Our strategy is based on principles, sustainability, impact and family values,’ says Lewis, who joined in 2015 after senior roles at Barclays and Credit Suisse.

Benoît Lombard

Edmond de Rothschild

Top Ten Swiss Wealth Managers

Portfolios are being increasingly polarised between passive and active management, but Benoît Lombard strongly believes in active management ‘rooted in the real economy with a long-term view’. ‘This also answers our clients’ needs for impactful investments. They now want to play an active role in shaping the future through their investments,’ he says. He is proud of Edmond de Rothschild’s ‘strong entrepreneurial culture’. The capital held today is in excess of CHF650 million (£540 million), and Lombard’s book has been increasing by 10-15 per cent annually. ‘Our strength is our DNA: we always see our clients as partners,’ Lombard says.

Duncane Macintyre

Duncan MacIntyre

Lombard Odier

Top Ten UHNW Wealth Managers

When the crisis took hold there was ‘a sense of collective shock’, says Lombard Odier’s chief executive Duncan MacIntyre. But, he adds, responding to such situations is ‘what we’re paid for. All we do is manage money.’ MacIntyre’s career has included spells at blue-chip names such as Flemings, JP Morgan and Coutts, where he founded the Coutts Private Office. He took the top job at Lombard Odier in 2016 and has overseen the rollout of its industry-leading digital platform, ‘My LO’. The ‘diagnostic capability’ of the tool means ‘clients can see what’s going on, down to the individual stock levels’. The Swiss private bank, which was founded in 1796, has £300 billion of assets under management, and MacIntyre says individual clients’ investible assets start at £3 million. He extols the benefits of disaggregating specialist services and emphasises his team’s ability to work alongside lawyers and accountants from other firms for […]

David Malpas

Vermeer Partners

Top Recommended Wealth Managers

‘So far so good’ is how David Malpas describes business at Vermeer Partners. The former Quilter Cheviot partner was a founding partner when the boutique was born last year. Vermeer Partners avoids putting its clients into a ‘set model’ approach. ‘We give the clients an ongoing narrative as to what we’re doing with their money,’ he says. Clients are kept in regular contact: rather than quarterly updates, they are notified of evey change made to their portfolio. Malpas describes client relationships as a ‘very tight bond’. ‘That really does help you when you go into market situations of the like that we see today,’ he adds.

Laurence Mandrile-Aguirre

Citi Private Bank

Top Ten Swiss Wealth Managers

Nice-born Laurence Mandrile-Aguirre found out she had a knack for UHNW service in her first role at Citi’s Monaco branch. Fast forward 23 years and roles in two more jurisdictions, including London, she now oversees the bank’s Swiss business from Geneva. ‘The more global and complex the clients, the more value we can add,’ Mandrile-Aguirre says, adding that she finds the client-facing element of her role rewarding: ‘Especially when you build that trust over time and you become their first port of call.’ The crisis has been reshaping investor views, she notes: clients feel that ‘longevity’ of wealth and investments is now more important than ever.

Charles Marment

Charles Stanley

Top Recommended Wealth Managers

‘There will be a real clamour for high-quality assets, whether it’s land or property or a good share,’ reveals Charles Marment, who predicts that later consequences of the crisis will inevitably lead to a low-interest-rate era. ‘Our industry is going to have to do a big, big job persuading people to stick with stocks and shares,’ he says. Another trend he foresees in wealth management is small and medium-sized firms consolidating ‘to make them more robust’. Marment is candid about performance, summarising it as ‘break even, albeit with a small loss’. But he is heartened by the support from clients. Spear’s is not shocked, as he has one of the longest

Quentin Marshall

Weatherbys Private Bank

Top Ten HNW Wealth Management

‘From a human perspective, the coronavirus crisis is utterly tragic. From a commercial perspective, we can draw out positives,’ says Quentin Marshall when Spear’s catches up with him. ‘There was a reduction in the number of transactions that people were doing, which is understandable,’ he adds. However, clients are now taking up Weatherbys’ services more than ever: ‘Our predominant role is day-to-day banking – deposits and lending money – all of which is still needed. And all the things that we do for clients, we can do remotely.’ On the investment side (the firm solely offers advice), all portfolios have performed well; they’ve remained consistent, which is a win in the current climate. The main task for banks at the moment, says Marshall, is ‘responding to needs’, and for those who have suffered a diminution in wealth this means sticking to a mantra of ‘do not react’. ‘The worst thing […]

Josh Mathews, MASECO

Josh Matthews

Maseco

Top Ten HNW Wealth Manager

Josh Matthews retains his place in our top ten after winning the HNW Asset Manager of the Year award at the 2019 Spear’s Wealth Management Awards. When we catch up with him, he’s in a typically forthright mood about the current situation. ‘We talk in large part about diversification and that the future is unknown,’ he tells Spear’s of the firm’s approach. ‘We don’t really know what’s going to happen, and that’s one of the reasons you should have a diversified portfolio – irrespective of how much time we spend analysing the future, unexpected things that do happen that tend to move the market the most.’ The former Citi director co-founded Maseco in 2008 to offer wealth management services to affluent American families living in the UK, the US and elsewhere with cross-border financial needs. The firm also provides investment management and financial planning services to Americans resident in the […]

Alan & Gina Miller

SCM Direct

Top Recommended Wealth Managers

A significant number of active managers have not protected investors as might have been assumed,’ wrote Alan Miller in a recent blog. SCM Direct had surveyed the UK active fund industry on its performance year-to-year to the end of March 2020, and based on a view of 627 non-index funds worth £301 billion, the average active equity fund underperformed the index by 2.1 per cent. ‘There were no sectors analysed where the average active fund added value,’ Miller concluded. The ‘power couple’ are known for forging MiFID II and for their efforts to challenge the investment community to operate in a fairer and more transparent way.

Neil Moles

Progeny

Top Recommended Wealth Managers

‘We have to guide people out of this now. We’re not thinking doom and gloom any more,’ says Neil Moles, Progeny’s CEO. Pre-corona, Moles had the foresight to warn HNWs not necessarily about the pandemic, but about events in the past 30 years that have led to similar shocks to the stock market. ‘We do spend a lot of time saying, “Do you realise that this could happen? Are you comfortable if it did?” You’ve got to be prepared for more volatility.’ The Leeds-based group is marching ahead with its expansion. ‘We’ve onboarded nine people in the last six weeks,’ he reveals. ‘And we’ve got 12 more positions we’re desperately trying to recruit.’

Alistair Morgan

MDR Mayfair

Top Ten Family Office Services

Alistair Morgan is the CEO of Mishcon de Reya’s private office arm MDR Mayfair, which was created to provide discreet advisory services for a select group of HNWs and UHNWs. ‘My job is to try to release my clients from the burden of administering their substantial wealth,’ he previously told Spear’s. Demand is high, Morgan reveals. The level of service on offer at MDR Mayfair closely follows the philosophy of Lord Mishcon, the late founder. ‘His approach to the management of clients continues to this day,’ says Morgan. ‘As he did, we appreciate the privilege of sitting alongside our clients as a trusted adviser.’

Giles Pascoe

Goldman Sachs

Top Ten UHNW Wealth Managers

‘We want to be absolutely pivotal to a small number of very material people,’ says Giles Pascoe, the leader of one of Goldman Sachs’ largest UK private wealth teams in London. Speaking to Spear’s in 2019, the year in which he was crowned Private Banker of the Year at our Wealth Management Awards, Pascoe likened his role to that of a personal CIO: ‘What we do here is institutional-quality investment planning and implementation. That’s 90 per cent of the job for clients.’ The bank’s brokerage account helps clients manage other risks, such as currency. ‘All very wealthy people should be, and typically are, very mindful of currency,’ Pascoe told Spear’s, noting also that the bank’s in-house private equity funds are a ‘really important part of our client offering’. Goldman cites access to alternative asset classes as one of six key benefits afforded to its private wealth clients, who together entrust […]

Annelise Peers

Investec Bank Switzerland

Top Ten Swiss Wealth Managers

‘As an Anglo-Saxon bank with its roots in sub-Saharan Africa, we are cognisant of the complexity of international clients with multiple touchpoints in different countries and jurisdictions,’ Investec Bank Switzerland’s CIO Annelise Peers tells Spear’s. Peers describes the bank’s Swiss operation as ‘high-touch’. ‘Our integrated group approach to clients makes it easy for Investec to treat clients the same irrespective of jurisdiction,’ she adds. This has been reinforced by the pandemic: ‘Clients still want the comfort of knowing what is happening to their investments and a sympathetic ear. This very personal and human interaction cannot be replaced by technology.’

Rupert Phelps

Smith & Williamson

Top Ten Family Office Services

Rupert Phelps once remarked that his ‘natural habitat’ was the Square Mile. But when Spear’s catches up with him this year, he is ensconced in his Gloucestershire home. Doing business under lockdown presents challenges, admits the well-connected partner for family office services at Smith & Williamson. ‘But within those confines, we’re trying to create that sense of humanity that’s so important with private capital.’ For several UHNWs the crisis has forced a rethink – and there is also change afoot at his firm, which has recently revivified its planned merger with wealth manager Tilney. ‘The strategic rationale never went away,’ says Phelps. S

Charlotte Ransom, Netwealth

Charlotte Ransom

Netwealth

Top Ten HNW Wealth Manager

When Netwealth launched four years ago, it had no intention of fitting into an established mould of wealth management. Speaking to founder and CEO Charlotte Ransom, it is clear that she is committed to the firm’s strap-line of ‘defining what modern wealth management should look like’. So, what should it look like? ‘A combination of expert portfolio management, expert financial advisers as and when required, and excellent modern technology,’ Ransom explains. ‘This gives private clients a completely different experience of discretionary wealth management where they have far greater transparency and control around how their portfolios are performing.’ With an average-sized portfolio of £450,000 (and the largest going into the multiple millions), clients clearly have a mind to modernise. Netwealth’s transparent system for determining risk has borne up particularly well during the crisis. When clients invest, there is an assessment of their goals and how much risk they’re prepared to take, […]

Hayley Robinson

Weatherbys Private Bank

Rising Stars Wealth Managers

Hayley Robinson was recruited in 2016 to bolster Weatherbys’ expansion when it opened its Edinburgh office. The former Bank of Scotland adviser has since been tasked to enhance this operation yet further. A significant recent moment for Robinson was when she assisted the owners of Lanrick Estate, a 1,500-acre estate that has been in the family since 1904. The owners were struggling with inflexible lenders when Weatherbys stepped in to finance the estate. ‘The bigger picture is looked at, taking a long-term view with trust, agility and flexibility applied to make an informed decision… made by people not machines,’ the firm tells Spear’s.

Christopher Rose

Waverton

Top Recommended Wealth Managers

‘We get out of bed to ensure that two plus two makes four and a half consistently,’ Christopher Rose previously told Spear’s. ‘If you do that, then you’re doing a very good job for your clients.’ Rose recently stepped down from the management committee of Waverton, where he joined in 1989, as well as from his role as head of private clients. He is still active and client-facing within the firm as a senior adviser in the industry. He has been praised for making the business what it is today. One industry peer has called him ‘an excellent front man for Waverton’ who is ‘always hale and hearty’. During the crisis, Waverton’s global outlook report has warned clients to brace themselves for a new period of stagflation. ‘But we continue to think there is a lot of good news in equity prices,’ it adds.

Khaled Said

Capital Generation Partners

Top Recommended UHNW Wealth Managers

‘We’ve got a little bit of a cult following now,’ the affable Khaled Said tells Spear’s across Zoom. CapGen sees itself as David up against Goliaths in the wealth management world. Indeed, its steady growth (it made three new partners at the beginning of the financial year) demonstrates a firm punching above its weight. Said says he’s ‘very proud’ of how the firm has performed through the storm. ‘Clients want to see a pathway through a scenario,’ he says. ‘They know we can’t predict the future – that’s not our job – but we can present them with number of different scenarios, we can ascribe a probability to them and we can ascribe an outcome.’

Julien Sevaux

Eighteen48

UHNW Top Recommended

‘We’ve done well,’ says Julien Sevaux of new boutique Eighteen48. ‘It’s validated our view of having portfolios that are reasonably focused where we know exactly what’s within them.’ Sevaux co-founded the strategic investment house with Tarek AbuZayyad and Edward Clive late last year. The same trio were instrumental in the success of Stanhope Capital (which Sevaux also co-founded). He calls Eighteen48 ‘the home team’ for sophisticated investors. The name is a nod to a period in which the family businesses of several of the firm’s founding clients were established, as well as serving as a reminder to the importance of a long-term view

Patrick-Smiley Smith and Williamson

Patrick Smiley

Smith & Williamson

Top Ten UHNW Wealth Managers

After rebutting Spear’s question about what the coronavirus crisis has meant for the wealth of his clients with a reminder of the priority of health, Patrick Smiley acknowledges that portfolio security during a global pandemic has posed a challenge. Smith & Williamson has risen to this challenge, offering clients enhanced communication as well as focusing on ‘positioning portfolios appropriately’. It is not necessarily appropriate, says Smiley, just to put assets into healthcare and technology. ‘There is no denying that the issue is going to take time to resolve, so the concern should be on balance- sheet strength. We’ve got to know our clients and their capacity for risk – diversity is key,’ he adds. Before the crisis dominated, business was going well at S&W. The firm was looking to expand its tech capability with an overhaul of its CMS. ‘The use of tech is twofold,’ says Smiley. ‘We use it […]

Camilla Stowell

Coutts

Top Ten UHNW Wealth Managers

2019 was an excellent year for Coutts. With Camilla Stowell at the helm of investment management, it achieved a 15 per cent-plus return on equity, grew its AuM and administration by 15 per cent and delivered strong investment performance relative to rivals. For Stowell, however, it’s about ‘being more than just a bank’. ‘Our approach is to really be that indispensable partner,’ she tells Spear’s. ‘We are able to address our clients’ needs in terms of financial planning and protection, but also around philanthropy and making sure that they can have some positive impacts beyond their own immediate circumstances for others.’ The firm’s desire to see clients invest responsibly doesn’t stop there. Coutts is a signatory of the UN-backed Principles for Responsible Investment and is focused on reducing carbon emissions across all portfolios by 50 per cent by 2030. ‘ESG is embedded across everything that we do,’ says Stowell. Many […]

Jane Sydenham

Rathbones

Top Recommended Wealth Managers

Jane Sydenham has previously told Spear’s that one of her most memorable career moments is ‘surviving the financial crisis’, so it’s no wonder she is a cool hand when discussing Covid-19. ‘Clarity is needed and people really appreciate it,’ she says. That’s what we’re focused on at times of stress – there is so much that you can’t understand. ‘What you do in a crisis, and whether you act ethically and with principles, absolutely shapes the way everyone thinks about you. if you act with some integrity now, you’ll reap the rewards long-term.’ Sydenham is a key part of a strong team that includes Robert Szechenyi, who is also well regarded by peers.

Theophanis Theophanous

Barclays Private Bank

Top Recomended UHNW WEalth Manager

Since being recruited by Barclays in 2011, Theophanis Theophanous has blazed an impressive trail in the private client space with expertise across wealth structuring and investments. He is now MD of key clients & family offices at Barclays, and his work spans Dubai, Greece, Russia, Saudi Arabia, Switzerland and more. But no matter where he is, his method remains the same: have a strong understanding of client needs. He recognises that providing for their families and dependants is at the core of what they expect from a wealth manager. If Theophanous’s track record is anything to go by, he’s able to make good on that commitment.

Jeremy Vaughan

Hampden & Co

Top Recommended Wealth Managers

‘In the last year we have made very good progress,’ Jeremy Vaughan tells Spear’s. ‘We’ve expanded client numbers, expanded our deposit book, and taken over the loan book from Smith and Williamson.’ Hampden & Co also launched a new banking app at the beginning of last year. There’s no doubt coronavirus has affected the value of investments and assets, says Vaughan, but there are certain things private banks can do to help their clients during these uncertain times: ‘They want to know that we are there to support them, whether that’s through increased lending or advice. We like to think that we are part of a client’s circle of advisers.’

Christian Wagner

Credit Suisse

Top Ten Swiss Wealth Managers

When Spear’s asked a UK and Swiss-focused wealth manager to recommend an outstanding Swiss adviser, he named Christian Wagner as his go-to at Credit Suisse. The director of private banking advises clients from the Far East who operate in Zurich. Wagner’s advice is in line with Credit Suisse’s strategy to create customised solutions for UHNWs, whether their aim is to preserve, accumulate or transfer wealth. He started at Credit Suisse in 2005 in Beijing, attracting business from owners of multinationals from Asia Pacific, before moving to Zurich. He graduated from the Yale School of Management and holds an executive MBA from the University of Zurich.

Petronella West investment Quorum

Petronella West

Investment Quorum

Top Ten HNW Weath Manager

Petronella West always makes the time to interact with Spear’s, even if it is in the midst of a transition from a management buyout, staff recruitment for expansion and an infrastructure overhaul, during a pandemic. She finds one weekend to catch up over Zoom. ‘We increased turnover and we increased profitability significantly,’ she says, quoting a £500,000 profit for the financial year for the boutique. One of the main factors was ‘a big IT upgrade’ West brought in to transform the business in 2019. That decision is now paying off, while traditional wealth managers struggle to stay afloat in the crisis. She is proud of how nimble this makes Investment Quorum: ‘We’re now in the cloud and we can operate from anywhere.’ She is coordinating with cybersecurity experts DarkTrace to ensure data security for an even more comfortable experience for clients. ‘I want every client to have that experience of […]

UBS

James Whittaker

UBS

Top Ten UHNW Wealth Managers

‘It’ll be interesting to see what happens,’ James Whittaker says of the future of work and travel, having chosen the phone for our chat after considering Microsoft Teams and Skype. Whittaker’s clientele is largely UK-based, but he wonders what the future will hold for those who travel between jurisdictions. ‘It’ll be interesting to see what the knock-on effects of this are, whether people will say, “Actually, we don’t need to travel as much as we can use video-conferencing apps more.”’ He has spent 14 years at UBS, and mentions that the clients he started with back then are still with him today. He has spent the past three years as the head of the bank’s UK UHNW business, and has been instrumental in growing the arm. A highlight was the hire of Coutts’ Adrian Jones. Whittaker started his career at Coutts. He moved to UBS to take on the managing […]

James Wilcox

Floreat

Top Recommended UHNW Wealth Manager

Since James Wilcox and entrepreneur Hussam Otaibi restructured the Swiss-based Floreat in 2011 to form an investment boutique on Grosvenor Street, the firm has forged a reputation as ‘the go-to house for substantial families’. ‘We are different,’ Wilcox tells Spear’s. ‘We have financial and nonfinancial structures. The finance side covers investment, real estate, fixed income and principal investing, while the non-financial side covers financial succession, wealth management, wealth transfer and philanthropy. Our operational experience and financial skills bring a specialist approach in serving large UHNW families and complex client affairs,’ he stresses.

Nataša Williams

LGT Vestra

Top Recommended UHNW Wealth Manager

In wealth management terms, LGT Vestra has just matured from adolescence and is now one of the major players on the scene. Nowhere is this growth more apparent than the desk of Nataša Williams. About a year ago her team surpassed £1 billion AuM, of which she runs about a fifth. The growth goes beyond those numbers, however. ‘We have added to our client base – in particular we’ve seen more and more technology entrepreneurs knock on our doors,’ says Williams. ‘We’ve also worked on our governance – how clients project their own objectives – and broadened our services. Last year we started a private equity programme which has now become a bit mainstream.’

Brenda Zongo

HSBC Private Banking

Top Ten Swiss Wealth Managers

HSBC Private Banking’s base in Geneva offers its broad array of clients advice on investments and wealth planning as well as proving credit solutions. For director and senior relationship manager Brenda Zongo, the ‘quality of connectivity’ is one of the bank’s greatest assets. ‘The relationship manager is the client’s doorway into the bank but by no means a “one-man show”,’ she tells Spear’s. ‘They navigate the client on their journey through the breadth and width of the HSBC’s capabilities as their needs change and evolve over time.’ Zongo primarily looks after international expats under the UKRND regime.



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