If the deal receives regulatory approval, US private equity firm Lovell Minnick Partners (LMP) will take a majority shareholding in the combined business.

The firm is currently London & Capital’s largest shareholder.

London & Capital chief executive Guy McGlashan will become CEO of the combined business.

“The merger of Waverton with London & Capital is a hugely exciting stage in Waverton’s evolution for our clients, our staff, and our shareholders,” said Nick Tucker, CEO of Waverton.

“Our two businesses share a similar culture of providing outstanding client service combined with a laser like focus on investment performance and we look forward to strengthening our investment capability while enhancing our offerings in the wealth management and advisory services space.

“This partnership coupled with the support of LMP will accelerate the growth of our combined business for the benefit of all shareholders and I am looking forward to working with Guy to achieve our vision for the merged business.”

This article was written for our sister title Portfolio Adviser

Vania Franceschelli has been elected chair of the European Federation of Financial Advisers and Intermediaries.

Franceschelli has been on the board of the federation for several years and held the role of vice chair since 2019.

Previous chair Martin Klein has been elected as vice chair, with Paul Stanfield, secretary general, and Marta Gellova, treasurer, have been re-elected to their existing roles.

Candriam

The global multi-asset manager has promoted Nicolas Forest to chief investment officer.

He was previously global head of fixed income.

Philippe Noyard, currently global head of credit and deputy global head of fixed income, will succeed Forest as global head of fixed income.

Kingswood

Paul Hammick has been named as chief risk officer at the wealth manager.

He has over 26 years of experience in financial services having worked at Lloyds Banking Group, 11 years of which were at executive level leading risk, operational and sales teams.

Nucleus Financial

The wrap platform has named Justin Tovey as interim chief risk officer.

He replaces Martin Ettles, who has left the group to seek a new challenge.

Tovey joins from River and Mercantile Group, where he was chief risk officer for four years.

ThomasLloyd

The investment firm has appointed Nadir Maruf as chief investment officer.

Prior to joining ThomasLloyd, Nadir held the role of head of private markets at Tesco Pension Investment, where he was responsible for the private markets business and underlying portfolios, including overseeing all direct and indirect unlisted strategies.

Ocorian

The financial services provider has promoted Tania Mohacs to chief commercial officer.

Tania, who joined Ocorian in 2019, is based in London and was previously head of regulatory, legal and compliance at Ocorian.

Old Mill

The financial services group has named Amanda Browning as partner and head of wealth management.

She joins from Evelyn Partners, where she was managing partner.

London & Capital

The wealth manager has appointed Kristin Schaefer as head of relationship management for its US Family Office operation.

She will have a focus on cross-border Americans.

Schaefer joins from JP Morgan, where she led the private bank in Utah and Idaho. She will be based in London.

AssetCo

Head of distribution at the wealth and asset manager, Gary Collins, has left the company.

Collins has joined Door as head of clients for global ex-North America.

Foster Denovo

The IFA group has named Jacqui Irvine and Rosemarie Paul as independent non-executive directors.

The appointments follow the retirement of Alan Taylor, ex-non-executive director of Foster Denovo, after 14 years in the role.

Irvine is a qualified solicitor and adds over 25 years’ experience in the financial services industry. Paul is a qualified lawyer and the trustee of Trust for London.

The multi-asset investment arm of Quilter has hired Marisol Hernandez as head of responsible investment.

She joins from the United Nations Principles of Responsible Investment where she worked as head of asset owners.

Hernandez replaces Eimear Toomey who left the business earlier in 2022 after being in the position for over a year.

London & Capital

Kim Hinds has taken on the role of executive director of US family office at UK wealth and asset manager London & Capital.

He was previously at Coutts where he spent more than eight years, most recently as a director and wealth manager.

Arbion

London-based investment house Arbion named Marco Pabst as group chief investment officer.

He joins from Union Bancaire Privee in London where he was chief investment officer for over three years.

The Private Office

Alex Shields has been promoted to partner at the UK financial advice firm.

He joined in 2019 as an adviser and then became a senior adviser in 2021.

@SIPP

The pensions firm has expanded its business development team with a double hire.

Matt Storey becomes head of business development after spending more than 10 years at XPS Self Invested Pensions as a Sipp/Sass business development manager.

Kerry Houghton joined as a business development manager after four years at Mattioli Woods where she served in a similar role.

Time Investments

The tax efficient specialist investment firm has made two senior hires.

Raymond Greaves has been named as head of equity funds. He was previously at FinnCap where he worked as head of research for over eight years.

Andrew Gill has become fund manager for the Time UK Infrastructure Income and the Time Property Long Income & Growth funds. He joins from Jefferies where he was an equity research analyst for seven years.

Private Market Alpha

The digital marketplace for wealth managers, financial advisers, asset managers and distributors hired Rebecca Bonini as operational due diligence and product specialist to strengthen its operational due diligence team.

She was previously a senior analyst at Akasia Europe.

Fairway

Jersey-based trust, funds and pension provider Fairway recruited Dominique Burnett as trust director.

She joins from Suntera Global where she as client services director.

Schroders Personal Wealth

Makala Green has taken on the role of personal wealth adviser at the Schroders-Lloyds joint venture.

She will serve clients in the Buckinghamshire and Oxfordshire region.

Green was most recently at St James’s Place where she was director of green wealth planning for seven years.

But when the tables are turned, what are the needs of expats that relocate or retire to the US? What should they consider before moving to the United States and how is their tax planning and situation different?

The US undoubtedly has a very different structure to most countries since every single state can legislate their own set of rules, taxes and requirements, which can make it harder to navigate.

As a result, International Adviser spoke with London & Capital about how people can prepare before crossing the Atlantic.

Stay or go?

Robert Paul, partner and head of US family office at London & Capital, said that there is one main challenge all US advice firms face when dealing with expat clients: are they going to stay in the United States, or will they eventually return home?

This is due to the fact that, according to what their plans may be, the type of products and financial plans put in place could change drastically, he added.

“There is no point putting in place an excellent US domestic retirement plan for a British family if they intend to return to the UK because many of the US products and investment medium will be negatively taxed on their return to the US.

“Often, international families do not know where they are going to ‘end up’ because it can be driven by children, grandchildren, cost of living or many other aspects and so the single biggest quality that needs to be applied to their planning is flexibility.”

Paul said some of the considerations to keep in mind should include whether the products and/or investments held can be adapted or changed easily should the family move to a different jurisdiction.

Subsequently, they should also consider whether the jurisdiction in question will view their holdings in a different tax perspective and assess the best course of action as a result.