Subject to regulatory approval, Berry Asset Management will be rebranded as Bordier & Cie (UK) Limited, gearing up the Swiss private bank to service the growing number of internationals moving to London for business purposes.
Former Skandia chief MacLeod will be made chief executive of the new operation and Jamie Berry will become chairman – their respective roles at Berry Asset Management, which is 90% owned by Bordier & Cie.
MacLeod will continue to be based in London but will join the executive team of Bordier & Cie in Switzerland.
He will spearhead a significant recruitment campaign across a number of disciplines, including an international CEO or head of business with an international skillset and a team of relationship managers.
The business will run two divisions as new hires are recruited to cater for the needs of resident non-domiciled and international clients.
“We have developed a comprehensive suite of wealth management services to meet the needs of the ultra high net worth, the mass affluent, trusts, pension funds and charities, and have continued to innovate. Today our assets under management stand at an all-time high.
"Our evolution, towards becoming a sector leading wealth management boutique, is a huge tribute to the entire Berry team; my fellow directors and staff remain committed to the firm for the long term and look to the future together with confidence as we become further linked with the Bordier private banking dynasty that has been serving clients so well for 170 years.”
Bordier & Cie private bank manages assets in excess of £7bn with 10 offices globally. Berry Asset Management stood at £801m of AUM, to end December 2013.
