Stanhope Capital merges with FWM

Monde
On the 11/25/20 at 7:48AM

by

Laurence Marchal

Stanhope Capital Group and FWM Holdings plan to merge into an independent wealth management and advisory firm with $24.2bn in assets under management. The new entity will employ 135 persons split among six different offices worldwide. It will be chaired and managed by Daniel Pinto, the founder of Stanhope Capital.

Stanhope Capital and FWM will work as a single company, particularly in investment strategy and research, but they will each keep their own names.

Founded in 2004 by Daniel Pinto, a Franco-British financier, Stanhope Capital currently supervises $13bn for private banking clients, endowments, charitable organisations and other institutions worldwide. The firm employs 85 persons in London, Geneva and Paris. It is active in wealth management, investment advisory, private equity and investment banking.

FWM was established in 2009 by Keith Bloomfield initially to manage the fortune of the Forbes family. The firm manages $11.2bn for family offices and ultra-high-net-worth individuals, and endowments located mainly in the US. It has offices in New York, Philadelphia and Palm Beach. FWM, which employs 50 persons, also has one foot in alternative investment management, having acquired the New York-based hedge fund firm Optima Fund Management in 2019.

While Daniel Pinto will serve as chairman and CEO of the new group, Keith Bloomfield will remain CEO of FWM, in charge of managing the new firm’s US activities. He will also sit on the board of directors of Stanhope Capital as vice-chairman, as well as the executive committee. FWM management will receive Stanhope Capital shares.