Stonehage Fleming, Europe’s largest multi family office, has appointed Chris Merry as its new CEO, taking over from Giuseppe Ciucci.

Ciucci will remain as a full time managing partner of the group and become deputy chairman of the board.

Merry was formally CEO of Ipes, a European provider of fund administration and outsourcing services. Prior to that he was CEO of RSM Tenon, which was acquired by Baker Tilly.

Commenting on his move, Merry said. “Anchored by a founding family now in its sixth generation, the firm has also demonstrated its ability to understand the requirements of a contemporary audience. I am excited to work with a team that has redefined the modern family office.”

Though Stonehage Fleming management and staff remain the largest shareholders, in July this year Caledonia Investments announced that it had taken a 36.7% equity stake in the business.

Stonehage Fleming currently advises on over GBP45bn (USD55bn) of assets and includes an investment business with more than GBP10bn (USD13bn) under management for families and charities.

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