London-based Stanhope Capital and US-based FWM Holdings have agreed to sign a merger agreement that will create the world’s largest independent wealth management and advisory firm.
The newly merged entity, formed by the merger of Stanhope Capital and FWM Holdings, will oversee $24.2 billion in client assets. It will have around 135 employees in six offices spread across the globe.
Once the transaction is completed, both Stanhope Capital and FWM will operate as a single company, particularly in the area of investment research and strategy. They will retain their respective names under the Stanhope Capital Group umbrella.
Daniel Pinto is expected to take over the role of chairman as well as the chief executive officer of the new entity. With regard to the merger deal, he told the media, “We are delighted to welcome Keith and his colleagues to the Stanhope Capital family. This is a unique opportunity to create a truly global investment firm around the three core values which have defined our respective businesses since inception. Firstly, independence, which gives clients the assurance of conflict-free advice provided by true fiduciaries. Second, alignment of interests between clients and talented professionals who invest their personal wealth alongside them, a rare thing in our industry today.
“Lastly, creative thinking, based on an investment platform designed to give clients the flexibility to combine liquid, well-diversified portfolios with exciting opportunities in private equity, real estate and hedge funds. These key principles have been the pillars of our success to date and they will continue to carry us forward as a group.”