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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.
QVC Group is using Joele Frank for strategic communications as the TV home shopping pioneer declares Chapter 11.
Publicis Groupe reported 4.5 percent Q1 organic growth in net revenues to $4.1B despite the volatile macro environment.
PondelWilkinson, the Los Angeles-based IR and strategic communications shop, has expanded to the East Coast by adding Anreder & Company veterans following the retirement of principal Steven Anreder.
Teneo represents American Ocean Minerals Corp as its merges with NASDAQ-listed Odyssey Marine Exploration to create a $1B deep-sea critical minerals research and mining platform that is under US-control.
Kekst CNC represents Cleveland-based Everstream as the business-only fiber network receives bankruptcy court approval for the sale of almost all of its operations to Bluebird Fiber for $385M.
