Stenham Group Forms Stenham Wealth Management

Friday 21 October 10:22

Stenham, the asset management and private wealth management Group, and Credit Suisse AG, the Swiss bank, are delighted to announce the establishment of a new Channel Islands based investment firm, Stenham Wealth Management (C.I.) Ltd (Stenham WM) which will act as an External Asset Manager (EAM) for Credit Suisse in the Channel Islands and elsewhere.

Stenham WM was formed following the introduction of a large number of local clients by Credit Suisse which is ending direct client coverage out of the Channel Islands. The new company will be able to offer those clients a wealth advisory service which includes access to the full range of Credit Suisse’s specialist wealth management products, services and lending solutions, ensuring continuity for their investment plans.

Stenham WM will also be able to offer a range of global custody and transaction services as part of a traditional liquid, multi-asset class approach to private client investment management which complements the impressive investment credentials of Stenham Asset Management in the alternatives space. This wide range of services is supported by Credit Suisse’s External Asset Managers (EAM) offering. By transferring to Stenham WM, Credit Suisse’s existing clients in the Channel Islands will continue to have access to Credit Suisse’s discretionary portfolio management service, avoiding any disruption to their investment portfolios.

As part of the formation of the new company, four former Credit Suisse investment employees will transfer to Stenham WM. They are:

David Baker, who will head the new Stenham WM business, based in Jersey. David has more than 30 years of industry experience and was previously Head of Credit Suisse’s Jersey office. David joined Credit Suisse in 2013, prior to which he was 20 years at UBS. Commenting on his appointment, he said: “This is a unique opportunity to build a Channel Island business, meeting a growing demand for locally delivered investment services to predominantly Channel Islands resident private clients and fiduciaries”

Allan Stewart, Ian Blackman and Adrian Starr who will join as Directors, responsible for the investment management and advisory services. Between them they have more than 72 years’ combined industry experience. Allan and Ian will join David in Jersey and Adrian will be based in Guernsey.

This team has worked successfully together at Credit Suisse in the Channel Islands for several years and will move across to Stenham WM over the coming months as the client transfer gains momentum. Stenham WM expects to hire additional investment professionals as the business grows across the Islands.

Stenham Group Deputy Chairman, Edwin Wulfsohn, noted that “This strategic move adds strength and depth to the Stenham Group’s award-winning multi-disciplinary financial services business, with a long tradition of serving local clients and adding to the already significant Channel Islands’ footprint”.

Roy McGregor, Credit Suisse CEO for the Channel Islands said: “Credit Suisse is delighted to be working with Stenham. It allows us to provide continuity to the broader Channel Islands client base and to the wider fiduciary sector by working alongside an established provider with access to Credit Suisse’s full range of wealth management products and services via our specialist EAM team. Credit Suisse has been present in the Channel Islands for thirty years and, looking ahead, we remain committed to providing wealth management services to our clients locally; both through our network of CS offices as well as in alliance with qualified companies such as Stenham.”

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