Founder, CEO Peter Smith gives up management role for chairman's position. Tally-Ho Ventures, an independent advice boutique that caters to high-net-worth expatriates living in Europe and the Middle East, is changing its name to ProMaster. In addition its founder Peter Smith is stepping down as president and CEO to become chairman of the U.S.-listed, Luxembourg-based firm.

COO Nigel Gregg will assume the titles president and CEO. The changes reflect the expanded roles of each executive as the Company embarks upon an aggressive program of acquiring wealth management companies in Europe.

What's in a name

"Our intention is to seek out the highest-quality specialty wealth management firms, thus creating a portfolio of different services, all utilizing parent company back office and marketing skills to reduce operating costs while creating a unified brand under which our companies can provide not only their own services but cross-sell those of the other firms we acquire," says Smith.

"ProMaster" blends the names of two of Tally-Ho's recent acquisition targets, Ticino, Switzerland-based ProTrust Private Clients and Aberdeen, U.K.-based Master Finance Europe. Smith reckons the new name "better reflects the firm's capabilities for serving our clients, as well as providing support and services for our new businesses operations."

A few months ago, Tally-Ho was saying it planned to revert to its old name, Belgravia Intervest. The firm got the "Tally-Ho" moniker from a North Hollywood, Calif.-based Comedy-TV production company (creator of such yet-to-be-aired gems as "Celebrity Tiddlywinks" and the "Philosophy of Fart Jokes") that it acquired in 2004 in order to secure a U.S. stock listing. Confusingly, another comedy-production company, a private corporation, is owned and operated by the California founders of Tally-Ho Ventures - and continues to operate under that very name.

Belgravia Intervest was formed in 2002 when Belgravia Group International merged with the Intervest Group - itself the product of the 1995 merger between Lazard Holdings, a Bahamas company, and Riyadh, Saudi Arabia-based Arabian Brokers International.

Tally-Ho has about $1.8 billion in assets under administration. It operates in 23 countries from 13 offices worldwide. -FWR

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