Multi-family office Stonehage Fleming has expanded its Jersey office with the appointement of a new director.
Rudi Bodenstein joins the firm from Guernsey-based wealth manager FNB International Trustees, where he spent eight years expanding its fiduciary and advisory business.
Bodenstein will work closely with Paul Roper, a partner at Stonehage Fleming, to develop its ‘Emerald Offering’, the firm’s in-house trust and investment service for clients who may not need a complete family office service.
Commenting on the appointment, partner and head of family office in Jersey, Ana Ventura, said the hiring of Bodenstein ‘reflects the growing importance of Jersey to the group’.
She added: ‘The needs of our clients are constantly evolving and Rudi’s experience will contribute significantly to our already existing talented and dedicated team, as well as the strategic vision we have for Stonehage Fleming as the international family office.’
The UK part of the firm made an emphatic return to profit last year, recording a £4.1 million pre-tax profit in the year to March 2017.
It ended a run of two years of being loss-making as the company absorbed the costs of merging with Fleming Family & Partners in 2015, with the year before seeing it post a £1.1 million loss, down from £4.3 million in the previous year.