International family office Stonehage Fleming and the Glenmede Trust Company, a private wealth firm based in the US, have entered into a strategic alliance.
The relationship will allow Stonehage Fleming to deliver international family office, trust and investment services to clients of Glenmede in Europe, the Middle East and Africa; with Glenmede offering investment and corporate trust services to clients of Stonehage Fleming in the US.
Through the agreement, the firms will “expand their respective client offerings and geographical capabilities”.
Both remain independently managed and privately held.
Giuseppe Ciucci, group chief executive of Stonehage Fleming, said: “This agreement enables us to meet the evolving needs of clients across both firms and enhance the services we provide to wealthy families with complex needs.
“Our two firms are a strong strategic fit not only due to our complementary capabilities and geographic footprints, but also because we share the fiduciary heritage and values that place the client at the forefront of everything we do.”
“This is Stonehage Fleming’s second tie-up in the last few weeks, after the firm signed a strategic alliance with Lombard International Assurance.
Expanded service
Gordon Fowler, president and chief executive of Glenmede, said: “Through the formation of this alliance, we will be better positioned to assist our clients with their multi-jurisdictional needs by partnering with a proven and like-minded organisation.
“Our firms are aligned culturally and philosophically, and our clients will experience an expanded service offering in a seamless manner.”
Stonehage Fleming and Glenmede both said that the “agreement formalises a strong existing relationship between the two firms” and “is a testament of both firms’ growing need to better serve clients on a global basis”.
Stonehage Fleming is an independently owned family office headquartered in London. It has offices in Europe, Africa, the Middle East and North America.
The Glenmede Trust Company is a private wealth and institutional investment management firm which offers services for high net worth individuals, families, family offices, endowment, foundation and institutional clients. Headquartered in Philadelphia, the firm has offices in New York, Washington DC, Florida, Delaware, Ohio and New Jersey.
