In the biggest family office move since Guy Paterson left Unigestion for Stanhope, Andrew Rodger, head of the Stonehage Family Office division, has left to become partner at Cunningham Loewenstein.
HIRES AND FIRES in the London family office space are few and far between. But in the biggest move since Guy Paterson left Unigestion for Stanhope, August has thrown up a genuine head turner.
‘After six very happy years,’ says Andrew Rodger (above left), head of the Stonehage Family Office Division, ‘I have decided to move on to become a partner at Cunningham Loewenstein Asset Management, also a multi-family office with a fantastic team, a great track record and an innovative platform.’
That is remarkable. Whereas Stonehage is a 14-jurisdiction firm with a 36 year track record and $30 billion in assets under advice, Cunningham Loewenstein Asset Management is a market entrant.
Pressed for details of AUM, clients and growth strategy, managing partner Mark Cunningham simply says, ‘We are delighted to have Andrew joining us and believe that with all his experience in multi-disciplinary international wealth management he will be able to greatly enhance our offering as we continue to work with more clients around the globe’.
Yet the firm’s potential client base is beyond doubt. Prince Rupert, one of the two founders, was the Rolling Stones’ manager for 37 years, making them over a billion, according to the Evening Standard, and earning him the nickname “Rupie the Groupie” along the way. Meanwhile, Mark Cunningham is a seasoned corporate financier and investment advisor with over 20 years experience at Panmure Gordon, Helix Associates and, mostly recently, the US investment bank Jefferies.
As for Stonehage, Andrew Rodger’s role providing clients with advisory and operational support will be taken on by Andrew Nolan.
A chartered accountant with an economics BA from Nottingham, the 43 year old joined Stonehage London in 1997. Soon thereafter he was appointed head of the Neuchâtel and Zurich office where he remained until 2012.
The international dimension is reflective of the Conduit-Street-based family office. Stonehage started life as a trust company in the 1970s to meet the needs of emigrating South African entrepreneurs, but its fiduciaries soon developed expertise across investment, law, tax, philanthropy and art, and thus rolled out businesses in those areas. That meant that whereas the firm retained a South African air as late as the mid nineties, it is today a truly global house.
Read more by Freddy Barker
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