JO Hambro Investment Management (Johim) is looking to capitalise on new opportunities created by its recent buyout by Bermuda National Limited (BNL), and the portfolio of financial institutions the firm is now partnering with.
A week after officially spinning out of Credit Suisse following the completion of its acquisition by BNL for an undisclosed sum, Stephen Browne (pictured), director at Johim, explained how the firm is anticipating growth in its burgeoning international private client business.
The only discretionary fund management company in BNL’s holdings, Johim is now sister company to one of the biggest banks in Bermuda, Bermuda Commercial Bank, alongside other banks and advisory companies across the world.
‘One needs the right private client services and teams to cater for the exponential growing numbers of international clients, mostly non-residents [who are coming] to or through London,’ Browne said.
Besides Johim’s ‘strong national base’, he pointed to the US and the Far East as areas of potential growth.
‘There are different ways of capturing those clients in London or offshore jurisdictions, and BNL has a lot of international experience, so we hope to tap into what they can offer us as well.’
While Browne said Johim is not looking into developing new services, he explained the firm was ‘certainly considering’ ways to access foreign markets more efficiently, whether via hires or new offices.
‘We’re not ignoring these things,’ he said, adding Johim is exploring ways to ‘be part’ of and network with its new group partners.
He said the firm is considering Bermuda’s offshore centre as a potential launch pad: ‘I am sure there are ways we can explore working with [Bermuda Commercial Bank] in an offshore trust jurisdiction.’
Browne is anticipating a push in the wealth manager’s global equity institutional platforms, in what he described as a ‘departure’ from its pure private client business, and eventual new products in its range of specialist mandates.
He added that Johim is also seeing strong growth in its charity business, led by James Pike, after taking on the 100th client this year.
‘We have scope to build that business and we are in the process of doing that, hiring new directors and expanding resources.’