Multi-family office Saranac Partners has opened its European headquarters in Madrid, Spain, after obtaining approval from the Comisión Nacional del Mercado de Valores (CNMV).
The operation will have two divisions: a regulated entity focused on investment advice, and Saranac Partners Capital focused on real estate, technology, debt advisory and corporate finance solutions.
The Madrid office will be led by Maria Porta, who will assume the role of Europe chief executive.
Porta joined London-headquartered Saranac Partners in 2017 from UBS, where she was executive director of ultra-high net worth and family office.
Ben Ackesson will lead the investment and advisory offering in Europe, and Alberto Gomez has been recruited from Credit Agricole as head of operations and technology.
Blanca Hernandez, co-founder of Magallanes Value Investors, will join the board.
Porta said: “Our objective is to help clients select the best products and services for their needs, and to this end we partner with the best international custodians, investment managers and thought leaders. At a time of increasing complexity and oversupply of products, clients are increasingly looking for independent high-quality advice from their side of the table.”