International private banking group, Bordier & Cie, is to establish a London office and launch a recruitment drive for a resident non-domiciled and international clients team.
Bordier & Cie (UK) Limited is expected to open its doors for business within 6 months, and will incorporate two divisions. The Geneva-based bank’s existing London business, Berry Asset Management PLC, will evolve as the UK facing division and cater for existing clients, with a multi-disciplinary team for international clients.
Bordier & Cie (UK) Limited will operate from Berry’s existing offices on Pall Mall, with Berry chief executive, Jamie MacLeod and chairman, Jamie Berry appointed chief executive and chairman respectively of the new operation. The plans are subject to FCA regulatory approvals.
Mr MacLeod, who will also join Bordier & Cie’s most senior executive team in Switzerland, said: "With the support of a great team, we have achieved a significant amount at Berry over the course of the last 3 years. We relocated the business from Chelsea Harbour to Pall Mall, bringing us closer to our clients, to investment intermediaries and our introducers, and established a strategic administration partnership with SEI, a world leader in administration services. We have developed a comprehensive suite of wealth management services to meet the needs of the Ultra High New Worth, the mass affluent, trusts, pension funds and charities, and have continued to innovate. Today our assets under management stand at an all-time high.
"Berry clients have always enjoyed the highest levels of client service – an industry-leading client/investment team ratio at the heart of our proposition – and they will continue to do so, for whilst the name on the door will change, the team which has made Berry successful will not. What will change is that our clients will be able to access a much broader investment offering. I am enthused to be given the responsibility for leading Bordier & Cie’s business in the UK."
He continued: "Our evolution, towards becoming a sector leading wealth management boutique, is a huge tribute to the entire Berry team; my fellow directors and staff remain committed to the firm for the long term and look to the future together with confidence as we become further linked with the Bordier private banking dynasty that has been serving clients so well for 170 years."
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As CEO of Bordier &Cie (UK) Ltd, Mr MacLeod will lead a significant recruitment programme, across a number of disciplines, amongst the key appointments an international chief executive or head of business, with an international skill set and pedigree, and a team of relationship managers.
Grégoire Bordier, partner at Bordier & Cie said: "This opportunity is a major strategic initiative for the Bordier Group, and I am delighted that the two ‘Jamies’ have committed to building our proposition in the UK."