Her departure is billed as "amicable"; her destination is still unknown. London-based multifamily office Fleming Family & Partners, has lost its business-development head Penny Lovell. Her departure -- for parts so far unknown to the public -- was "entirely amicable," according to an unnamed source cited by the U.K. newsletter WealthBriefing. Lovell joined FF&P in 2001.

007

In August 2008, Gavin Rochussen stepped down as FF&P's CEO. Standard Chartered's chairman Mervyn Davies took Rochussen's place until January 2009 when he was appointed the U.K.'s Minister of State for Trade Promotion and Investment -- to be replaced at FF&P by Mark Davies, a former CEO of the U.K. investment manager Gerrard (now part of Barclays), and at Standard Chartered by former Experian chairman John Peace.

Rochussen has since popped up as as CEO of London-based asset manager JO Hambro.

The descendents of Robert Fleming, a nineteenth-century Scottish financier, founded FF&P shortly after the family sold Robert Fleming & Company to Chase Manhattan (now part of JPMorgan Chase) for $4.1 billion in 1999. (Though the Fleming fortune is based principally on the sale to Chase and more than a century of financial service, the family also owns the rights to late family member Ian Fleming's James Bond novels.) FF&P opened its doors to third-party clients in 2002. By mid-year 2004 third-party assets under management had exceeded assets managed for Fleming family members.

In 2005, Standard Chartered paid about $78 million for 20% of FF&P as part of a "strategic partnership" to expand FF&P's business into Asia and the Middle East.

In addition to its London headquarters, FF&P has offices in Moscow, Zurich, Hong Kong, and in Vaduz, Liechtenstein. -FWR

Purchase reproduction rights to this article.