Stonehage Fleming Acquires Private Client Services Business of Maitland

21 July 2021 Stonehage Fleming
Chris Merry, Group CEO at Stonehage Fleming

Chris Merry, Group CEO at Stonehage Fleming

Stonehage Fleming (“Stonehage Fleming” or “the Group”), the leading independently owned international Multi Family Office, today announces that it has agreed to acquire the Private Client Services business of Maitland, a privately owned global advisory, administration and family office firm.

On completion of the transaction, which is subject to regulatory approval in a number of jurisdictions, the business will transfer to Stonehage Fleming, bringing legal, fiduciary, corporate and investment management services capability in 9 locations worldwide. The transaction will add £1 bn (R19,9 bn)[1] of AUM and £15 bn (R299,8 bn)[1] of AUA, taking Stonehage Fleming’s AUM to over £16 bn (R319,8 bn) [1] and AUA to over £60 bn (R1 199,3 bn) [1].

Maitland’s Private Client Services business will bring further scale to Stonehage Fleming, strengthen key service areas and broaden the range of jurisdictions offered to clients. It will be combined with and operate under the Stonehage Fleming brand.

Three members of Maitland Group’s management team will join Stonehage Fleming, including Herman Troskie, currently Deputy CEO of Maitland, who will head a new Corporate, Legal and Tax Advisory Services Division at Stonehage Fleming and join the Group’s Executive Committee.

Chris Merry, Stonehage Fleming Group CEO commented: “This is an exciting time for Stonehage Fleming; we have the scale, the range of services and practical wisdom developed over many years to be the partner of choice for successful families and wealth creators. We have known and admired Maitland’s Private Client Services business for many years and are looking forward to welcoming their management, people and clients to Stonehage Fleming.

“For Stonehage Fleming, making selected acquisitions to enhance our proposition and increase our scale as a complement to organic growth is part of our strategic plan. We will continue to look for more opportunities to complement our existing business and bring our differentiated and comprehensive offering to new clients.”

Steve Georgala, CEO of Maitland commented “This transaction is a key step in the refinement of Maitland’s services offering which is now dedicated to Fund Services and Management Company Services. Such a transaction has been under consideration for some time and Stonehage Fleming has always been our preferred partner. We are confident that this acquisition will provide an excellent home for both our clients and our people who will thrive within a highly regarded global firm focused on the needs of Private Clients.”

Stonehage Fleming was advised on the transaction by Stonehage Fleming Corporate Finance.

[1] Exchange rate as published on 21 July 2021

Quick Polls


Healthcare brokers have long complained about inflation-plus medical scheme contribution increases; but pandemic may have changed things. What will pandemic-induced changes in hospital utilisation do to medical scheme contribution increase patterns?


Below inflation increase for 2022, then back to inflation-plus
Long-term trend of below inflation increases
Inflation-linked hikes for 2022, then back to inflation-plus
This is a 2-year hiccup, inflation-plus increase trend remains in place
fanews magazine
FAnews June 2021 Get the latest issue of FAnews

This month's headlines

Broker and insurer collaboration should not be a one-way street
Running on outdated systems… There's risks
Policy wordings with respect to COVID-19
Death or divorce... how best to split assets
Ethical investing… principles and moral codes
Portfolio positioning will serve investors well
Subscribe now