Welcome!

News Feed Item

Pioneers of Multi-family Office Sector to Create Major Combined Force

LONDON, March 20, 2014 /PRNewswire/ --

Newly  appointed  CEO  to  manage  the  expansion  of  the  two  firms

London-based multi-family office pioneers, SandAire and Lord North Street, confirm today that they have agreed terms to join forces.  The merged firm will have 50 employees and the group will have offices in London, Geneva, and Singapore.

As a result of this agreement, the enlarged new business will be a global leader in providing conflict-free investment management services to families with large fortunes and major endowment funds.  Both firms currently manage substantial assets for wealthy international families and endowments including Oxford and Cambridge colleges and both have been recognised through the receipt of industry awards for the quality of their service and sector leadership.

"This is an exciting ambitious strategic step forward for us," said Alex Scott, founder of SandAire.  "Crucially, our businesses share common values on the principles of serving clients and this made the fit so compelling.  Together, we are very well positioned to meet the growing global need for families and endowments to access specialised objective guidance on their investments."

Under the terms of the agreement, Alex Scott will assume the role of Executive Chairman.  William Drake and Adam Wethered, who co-founded Lord North Street, will be Vice-Chairmen. The two will also be shareholders of the combined business which will be majority owned by the Scott family.

"Our two firms share a distinctive culture and philosophy regarding the provision of bespoke and unbiased investment services to wealthy families and endowments," said William Drake. "The respect between us is considerable. This combination provides us with better scale to serve clients and to support our employees.  It also fits our ambitions for gradual international expansion".

In line with the announcement, the leadership team is being strengthened by the appointment of Alexandra Altinger as Chief Executive Officer.  Alexandra Altinger has over 20 years' experience in the global wealth and asset management industry. During this time, she spent a significant part of her career working in Asia and the US. Most recently Altinger worked for Lansdowne Partners.  Prior to this she was at Wellington Management leading the Sub Advisory and Fund Distribution business in Europe.  

Commenting on the appointment and the strategic vision, Adam Wethered stated: "Alex, William and I recognise the tremendous market opportunities for our business. To capitalise on this we felt that Alexandra will provide strong leadership to the new management team as it integrates the firms, enhances what we offer clients and then expands the business".

Scott added that the three founders will continue to remain active in the strategic direction of the firm and continue to interact directly with clients. "Indeed, this will free up our founders to have more contact with our clients, accelerate our ambitions for the business and create exciting careers for our people," he remarked.

NOTES  TO  EDITORS

  • The transaction is subject to the approval of The Financial Conduct Authority.
  • The financial terms of the deal will not be disclosed to the public.  
  • Together, the firm will manage several billion pounds in assets for wealthy families and endowments including Oxford and Cambridge Colleges.
  • The two corporate brands SandAire and Lord North Street will continue to operate in the market place. Lord North Street will become a wholly owned entity of SandAire.
  • SandAire is a multi-family office founded in 1996 by Alex Scott. Today, along with the assets of the Scott family, the firm manages investments for a significant number of families and endowments. Since inception the firm has won numerous industry awards including, most recently, MFO Team of the Year at the 2013 STEP awards. In addition, the business also initiated the innovative Wigmore Association which is a collaboration of the CIOs of seven family investment groups across the globe.
  • Lord North Street is a private investment office founded by two former barristers in 2000 - Adam Wethered and William Drake. The two had been engaged in investment banking and private banking since the late 1970s.  Today, the company advises wealthy families and endowments in the UK and continental Europe on their investment assets. The firm has regularly been recognised through awards for its high level of excellence.  Most recently, it was awarded Private Investment Office of the Year at the 2013 STEP awards.

FOR  MORE  INFORMATION:
Ivo Forde    
Fin International Public Relations Ltd    
L/Line: +44(0)20-7608-2280
Mob: +44(0)771-364-2828
[email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
SYS-CON Events announced today that IBM has been named “Diamond Sponsor” of SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California.
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
In the fast-paced advances and popularity in cloud technology, one of the most critical factors revolves around concerns for security of your critical data. How to assure both your company and your customers they can confidently trust and utilize your cloud environment is most often top on the list. There is a method to evaluating and providing security that exceeds conventional modes of protecting data both within the cloud as well externally on mobile and other devices. With the public failure...
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Infoblox delivers Actionable Network Intelligence to enterprise, government, and service provider customers around the world. They are the industry leader in DNS, DHCP, and IP address management, the category known as DDI. We empower thousands of organizations to control and secure their networks from the core-enabling them to increase efficiency and visibility, improve customer service, and meet compliance requirements.
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, will describe how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launchi...
The session is centered around the tracing of systems on cloud using technologies like ebpf. The goal is to talk about what this technology is all about and what purpose it serves. In his session at 21st Cloud Expo, Shashank Jain, Development Architect at SAP, will touch upon concepts of observability in the cloud and also some of the challenges we have. Generally most cloud-based monitoring tools capture details at a very granular level. To troubleshoot problems this might not be good enough.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In their Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, and Mark Lav...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.