Richard Clarke-Jervoise, head of the private capital investment team at Stonehage Fleming, is leaving the London-based multi-family office to move to Paris, the firm has confirmed.
Clarke-Jervoise, whose family is based in Paris, joined the firm in 2014 having previously co-led the private equity fund investing unit at French insurer Groupama.
In a world in which family office money is becoming hard for GPs to ignore, Stonehage Fleming is an increasingly important player. Clarke-Jervoise has helped it as a thoughtful and influential investor; it was voted limited partner of the year in this year’s PEI awards.
To quote our awards write-up: “EMEA’s largest manager of wealthy families’ money continued to evolve in 2018 forming partnerships with Philadelphia-based Glenmede, which advises on $40 billion for more than 2,000 families, and Luxembourg-headquartered Lombard International Assurance to allow its clients to access Lombard’s insurance plans. A deal to sell part of itself to Caledonia Investments, a £2 billion ($2.6 billion; €2.3 billion) investment trust with a strong family office heritage itself, is hoped to propel its global ambitions further.”
In an emailed statement this morning, Stonehage’s chief executive and head of investments Graham Wainer confirmed the departure: “We can confirm that Richard Clarke-Jervoise, will be leaving Stonehage Fleming at the end of March 2019 to join his family in France.
“Richard made a significant contribution to the development and expansion of the private capital division over his five years at Stonehage Fleming and he leaves a strong team in place. We thank Richard for his work and wish him all the best for the future.
“We are currently recruiting his replacement and will make an announcement at an appropriate time. In the meantime his responsibilities will be absorbed by other members of the team.”
You can read a profile on Clarke-Jervoise here, in which he discusses what it takes to make a private equity offering appealing to family office clients, and his reflections on the financial crisis here.