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  1. Wealth
November 19, 2012updated 09 May 2016 12:13pm

Lord North Street launches Swiss branch

By Spear's

Lord North Street is to extend its International Private Investment Office Network with the launching of Lord North Street Switzerland

Lord North Street, the leading Private Investment Office, managing the assets of families with large fortunes and charities with substantial endowments, is to extend its International Private Investment Office Network with the launching of Lord North Street Switzerland, a newly formed Swiss-based Private Investment Office.

The Company will be run by Sonia de Luca and Fabio Blom and will be subject to authorisation by the Swiss regulator. Investment research and other services will be provided from London by Lord North Street Limited. Sonia de Luca will be appointed as a director of Lord North Street Limited and play an important part in the management team comprising a growing number of professionals who will provide the firm with the next phase of succession required to build its business for the long term.

Sonia de Luca was for the last 13 years at JP Morgan Private Banking specialising in advice on strategic and tactical asset allocation, alternative investments, credit structuring and new client acquisition based in Geneva and Zurich. This was preceded by 9 years of investment banking experience at JP Morgan covering a range of management support roles including project management and financial reporting.

Fabio Blom has for the last 6 years been responsible for strategic asset allocation and management at a single family office. His previous experience covered various investment management roles at Credit Suisse and prior to that at JP Morgan Private Bank.

The Private Investment Office concept, which was pioneered by Lord North Street in London in 2000, has taken root in the family office and endowment world. A Private Investment Office manages the investments of very wealthy families and endowments and sits on the clients’ side of the table. It has no product to sell, does not benefit from pushing any solution over another and gives any rebates and commissions to the clients. In this way, it acts as an outsourced investment office for its clients.

Lord North Street’s international network already includes MdF Family Partners, based in Madrid and Barcelona, and MdF Private Investment Office with its presence in Latin America. All members of the Network subscribe to the Private Investment Office principles described above which ensure that they avoid the conflicts of interest which bedevil the wealth management industry.

The Managing Director of Lord North Street, Olivia Hancock, said of the appointment, “The arrival of Sonia and Fabio in Switzerland will be a further extension to our international management team. It is evidence that ours is a compelling professional service model both for Ultra High Net Worth individuals, families and trustees needing unbiased wealth management and for high quality professionals looking to join an organisation that provides this. Many of our clients are international and the service we provide has to reflect this.

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“This new office in Switzerland will be a significant further step forward for Lord North Street internationally and we look forward to expanding our international network over time as the Private Investment Office concept continues to grow in appeal. It takes a long time to build a leading investment business and we believe Lord North Street has only scratched the surface of what is achievable.”

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