Owl Private Office has demerged into two separate companies.
The international family office advisory business, led by Annamaria Koerling, will change its name to Delfin Private Office.
The domestic UK investment consulting business will transfer to a new firm, Owl Private Office Holdings Ltd, under the leadership of Andrew Wimble.
These changes took effect on 31 March 2020.
Time for a change
The two entities will specialise in the following areas:
- Delfin Private Office: An advisory business, comprising family office services for international family groups, requiring multi-jurisdictional solutions; and
- Owl Private Office: An investment consulting and oversight business to UK domestic family groups and charities.
Adam Wethered and William Drake are retiring as partners of Owl Private Office “in order to be able to dedicate more time to their portfolio of interests and external activities”, but they will continue to work with clients of both firms as strategic advisers, the firm said.
Drake will be a non-executive director of Owl Private Office.
Logical next step
Koerling, managing partner of Delfin, said: “We have felt for some time that there is a better way.
“This demerger is a logical and exciting next step, which has been well-received by our clients and their advisers.
“The families we work with are like international business enterprises. They are complex and global and want thoughtful, innovative solutions for their wealth.
“In these difficult times, we all need to adapt and think differently.”
Wimble, director of the newly formed Owl Private Office, said: “We will concentrate on advising clients on their investments with the utmost care; helping families, trustees and charities make sense of the complex world of investment.
“Recent events have thrown into sharp relief the importance of good long-term advice.”