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| Daniel Pinto |
Edelman Smithfield and Prosek Partners are working on the Stanhope Capital and FWM Holdings merger to create one of the world’s biggest independent wealth management firms, with assets of more than $24B.
The Financial Times notes the deal comes amid growing competition to cater to the needs of the world’s super-rich.
London-based Stanhope, which counts former WPP chief Martin Sorrell as a member of its advisory board, manages $13B in assets from offices in London, Geneva and Paris.
FWM, which was established to oversee the wealth of the Forbes family, has $11.2B in assets under management from offices in New York, Philadelphia and Palm Beach.
Stanhope CEO Daniel Pinto, who will helm the combined group, called the tie-up a “unique opportunity to create a truly global investment firm” based on independence, alignment of interests between clients and talented professionals, and creative thinking.
Edelman Smithfield, London-based capital markets specialist of the No. 1 independent PR firm, has Andrew Wilde and Jess Gill representing Stanhope.
Prosek Partners’ Nadia Damouni and Melanie Gounardes work for FWM.
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Dan Scorpio, H/Advisors Abernathy’s managing director and head of the M&A and activism practice, has joined FTI Consulting’s Chicago office.
ICR Healthcare handled Boston-based cancer drug developer Aktis Oncology as it upsized its initial public offering due to robust investor demand.
Anton Nicholas, who is president of strategic communications at ICR, has succeeded co-founder Tom Ryan as CEO.
Kekst CNC handles Crestview Partners, while Joele Frank reps DigitalBridge Group as the investment firms complete the deal to take WideOpenWest broadband company private.
