Merchant bank sets up new private division for wealthy families
A merchant banking group has set up a new private office division for wealthy individuals and their families providing trust and fiduciary services.
Salamanca Group said the private client services business which includes education advisory, lifestyle management, marine services, property management and security services in-house, will fall within this new division.
Martin Bellamy, chief executive of Salamanca, said: "Private clients are becoming an increasingly important part of our business following our acquisition of the Investec Trust Business earlier this year.
"Combining those areas of Salamanca Group that are focused on delivering services to these clients will enable us to provide a comprehensive service to our clients and meet their wide ranging needs."
The new office will provide these clients with a way of accessing the wider corporate risk, business intelligence and corporate advisory services of the group, tailored to their specific needs.
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It will also give them potential access to Salamanca Group's own corporate and real estate direct investment opportunities.
Catherine Grum, head of the private office, said: "Our office is an entirely new model.
"By developing long-term trusted relationships with our clients and really listening to them, using Salamanca Group's unique range of expertise and delivering tailored services, we want to become our clients' first point of contact for all their personal and business affairs.
"It operates predominantly out of London, Jersey, Geneva and Mauritius, however clients benefit from our ability to support their needs globally due to our extensive global network of other Group offices and consultants.
"In an increasingly complex tax, legal and regulatory environment, the private office team also recognises the benefit for private office clients of working with external experts and will continue to partner with the world's leading tax advisers, lawyers, financial institutions and investment managers to deliver a comprehensive service offering."