Fleming merges with family office rival to create £27bn business

Family office Fleming Family & Partners is to merge with competitor Stonehage to form one of the largest family offices in the EMEA region.

The newly-merged firm, to be known as Stonehage Fleming Family & Partners, will create a business overseeing £27bn in assets and £100m in combined revenues. It will be led by Giuseppe Ciucci, currently chief executive of Stonehage, while FF&P chief executive and chairman Adam Fleming and Mark Davies will sit on the board. The group will have 14 offices across seven countries and employ 500 staff. Ciucci said the merger is a "unique opportunity" for the business and will create a new type of advisory firm. He said: "The group will create a new category of advisory firm, one to wh...