SandAire and Lord North Street are to join forces and the combined group will be led by new chief Alexandra Altinger, who joins from Lansdowne Partners.
Both of the firms will retain their own branding but the deal will see Lord North Street become a wholly owned subsidy of SandAire.
Alex Scott, SandAire’s founder, will become executive chairman of the combined group with Lord North Street founders William Drake and Adam Wethered assuming vice chairmen roles. Altinger, who joins as chief executive, most recently worked for Lansdowne Partners.
Wethered said: ‘Alex, William and I recognise the tremendous market opportunities for our business. To capitalise on this we felt that Alexandra will provide strong leadership to the new management team as it integrates the firms, enhances what we offer clients and then expands the business.’
Scott said that both firms’ founders will continue to play a key role in directing the combined group’s strategy and working with clients.
‘Indeed, this will free up our founders to have more contact with our clients, accelerate our ambitions for the business and create exciting careers for our people,’ he said.
SandAire was founded in 1996, while Lord North Street was launched in 2000. Both run money for a number of clients, along with endowments, including Oxford and Cambridge colleges. The combined group will have 50 employees and offices in London, Geneva and Singapore.