People Moves: Berenberg, Mercer, OVS Capital, Butterfield, Alexander Forbes
Berenberg hires from UBS to drive UK institutional business, Mercer promotes internally for wealth management business, European hedge fund OVS Capital hires third partner, Guernsey private bank looks to offer European asset management, hires in property lending, Jersey private bank director moves to pensions advisory firm.
The London branch of Germany’s oldest private bank is venturing into the UK asset management business. Hired from Swiss banking group UBS, the firm has recruited Matthew Stemp (pictured) to help attract institutional investors, in addition to its private client base.
Stemp formerly held responsibility for developing and managing client relationships at UBS Global Asset Management. He will now work with Berenberg’s London private banking team and its Hamburg asset management outfit to develop the firm’s new offering.
Stemp’s role “adds a new and highly relevant dimension” to the business, said one of Berenberg’s London branch co-founders Fred Hervey.
“Today, private clients seek original investment content and access to solutions that have traditionally been the preserve of institutional clients,” he said.
Recently, managing partners at Berenberg in London Hervey and Ross Elder hired Richard Brass from Schroders’ private banking business to advise entrepreneurs and family offices.
Investment consultancy firm Mercer has promoted internal candidate Cara Williams to direct its wealth management business worldwide.
Cara Williams, previously the firm’s global chief operating officer for six years, was responsible for managing day-to-day operations, budgets and business strategy.
In an effort at diversifying the firm’s business, Williams is now charged with expanding its investment services for the wealth management industry. Advice, research and practical solutions will be made available to wealth managers, banks, family offices, fund platforms and insurance companies.
Based in London, Williams also continues her role as global head of technology solutions at Mercer.