Stonehage Fleming, an international family office group based in the U.K., has opened a representative office in Miami and has appointed Lowry Brescia to the position of its client relationship manager, the company announced.
A representative office is an office established by a company or a legal entity to conduct marketing and other non-transactional operations, generally in a foreign country where a branch office or subsidiary is not warranted.
The Stonehage Fleming representative office is located in the Brickell Avenue Financial District, expanding the firm’s U.S. footprint there. The office will serve as a gateway location for high-net-worth and ultra-high-net-worth individuals and families in Florida and throughout Latin America seeking to access Stonehage Fleming’s global network of offices and capabilities, the company said. In addition, it will also be a local port of call for professional intermediaries either in or passing through the area.
Johan van Niekerk, head of Family Office U.S., said in the news release that his firm was committed to expanding its national presence in the U.S. and throughout the Americas.
“Miami is the undisputed gateway to reach Latin American clients, and we are excited to be able to offer a local presence that meets the needs of clients in this important dsegment of the market,” he said in a prepared statement.
Brescia’s role as client relationship manager, reporting to van Niekerk, is key to the success of the new office, according to the news release. She joins Stonehage Fleming from Lionheart Capital, where she was vice president of operations. In her new role, Brescia will work closely with her family office colleagues companywide, focusing on developing and managing client relationships, particularly in the Latin American market, van Niekerk said.
“Lowry’s broad industry experience and contacts gained by working with ultra-high-net-worth individuals, predominantly from Latin America, North America and the Caribbean, is hugely valuable as we seek to develop our presence in Florida,” he said in the news release. Having been based in Florida or two decades, and (as) a fluent Spanish speaker, Lowry is firmly embedded in the community and has a clear understanding of the wealth management landscape.”
Brescia, who will serve as an intermediary and first client contact with the company, said she was thrilled to support the company’s new Florida representative office.
“While [wealthy] families may have complex international needs that require our broad global service offering, that does not stop them from wanting to have a contact that can provide valuable assistance in their local market,” she said in the release.
With the opening of a representative office in Miami, Stonehage Fleming now has a presence in 14 locations worldwide, including an office in Philadelphia, and a representative office in Toronto.
Stonehage Fleming was formed in 2014, after Fleming Family & Partners, the family office run by relatives of pioneer Robert Fleming and James Bond creator Ian Fleming, merged with Stonehage, an international family office with roots in South Africa. The company advises on more than $75 billion in assets, and includes an investment business with more than $20 billion in assets under management (AUM) for families and charities.
