Sandaire’s chairman Alex Scott is to step down as chairman of the multi-family office and has been replaced by Warwick Newbury, who also chairs Kleinwort Hambros Bank.
Scott (pictured), who founded Sandaire, will continue as chairman of its parent company, Applerigg.
The firm said the appointment of Newbury, who joins this month, separates the family ownership of the business from its governance and administration. Newbury will also continue as chairman of Kleinwort Hambros Bank until its merger with Kleinwort Benson completes later this year.
He has had a career spanning in banking spanning over 50 years, having started out at Coutts in 1964. He became Coutts’ head of private banking in 1990, before moving to Hambros Bank in 1997 as its first head of private banking.
He was later group chief executive of SG Hambros following its acquisition by Société Générale. Newbury was appointed chairman back in 2007.
Commenting on the hire, Scott said: ‘We are absolutely delighted to welcome Warwick as our new chairman. His vast experience of the wealth management industry, which spans family offices as well as private banking and investment management, will play an integral part in Sandaire’s continued development.
‘I look forward to working closely with him to strengthen our business and deliver the levels of service that our clients have come to expect.’
Newbury added: ‘I am thrilled to be joining Sandaire as Chairman at such a significant time in the development of the company. I am looking forward to making a meaningful contribution to a progressive and dynamic business as it continues to grow and evolve.’