Savills, a global real estate services provider, has launched a new family office services (FOS) division.
Additionally, the firm has hired Rupert Phelps from BNY Mellon to head up the new practice.
Based in London, the division will expand the firm’s presence into the FO sector, particularly the UK and Europe’s single- and multi-family offices.
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In his new role, Phelps will report to Clive Beer, head of Savills UK rural professional services & international mediation services.
Prior to joining Savills, Phelps served as director of family office services at BNY Mellon. He also served as a board member of a single FO, global head of private banking & wealth management at Euromoney, and held senior roles at UBS Global Asset Management and Merrill Lynch.
The new FOS practice will offer three kinds of services including Savills own real estate services (both the transactional property side and the non-transactional services of consulting and management) that provides guidance on family governance and dynamics.
Also it offers mediation services and acts as a collaborative and objective hub to refer families and their advisors to experts in the intermediary sectors.
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By GlobalDataPhelps said: "Savills is demonstrating its understanding and commitment to the Family Office (FO) sector, and the people it serves, by creating a collaborative offering, which will enable them to source the quality service providers they need.
Beer said: "A key focus is to draw together the many pools of intellectual capital and business expertise within Savills from which families will benefit, together with offering deep knowledge of the key intermediaries who truly understand and empathize with the family office sector."
