The new private client head, who has been with the firm for nearly 20 years, will focus on maintaining and enhancing the London-based asset manager’s client service and investment expertise. 

Sarasin & Partners has appointed Tom Vernon (pictured) as head of its private clients team. He is succeeding Jamie Black, who remains with the firm as a senior partner. Black will manage his long-standing client relationships and as a director of subsidiary, Sarasin Asset Management, the firm said in a statement.

Vernon joined Sarasin & Partners in 2006 after graduating from the University of Bristol. He is responsible for managing portfolios for a wide range of UK and international private clients and charities, including several of the firm’s largest relationships. He is also a member of the firm’s investment strategy group, which oversees Sarasin & Partners’ long-term thematic investment approach.

As head of the private client team, which manages £4.9 billion ($6.65 billion) on behalf of over 850 clients, Vernon will concentrate on maintaining and enhancing the firm’s client service and investment expertise. 

This transition marks a natural evolution for the team, the firm added. Black, who has led the private client team for over 20 years, will continue to manage his clients and remain a contributor to the wider partnership. He will also continue as CEO of Sarasin Asset Management, the firm’s subsidiary, which manages investment portfolios for US clients.

“Tom’s appointment reflects the depth of talent and expertise within our private client team. Since joining nearly two decades ago, he has played a key role in developing our client relationships and shaping our long-term investment thinking,” Guy Matthews, managing partner at Sarasin & Partners, said.

“Jamie’s steady leadership and deep commitment to our clients has been instrumental in the team’s growth and success. He will continue to play a vital role in the business, both as a partner and in his ongoing leadership of our service for US clients,” he continued.

“I look forward to [having] the opportunity to lead the team in continuing this work and delivering the outcomes our clients value most,” Vernon added.

“Tom is a natural leader and I fully support him in his new and richly-deserved role, while continuing to focus on my work with clients and the continued growth of our business,” Black said.

Sarasin & Partners is a London-based asset management group that manages £17 billion of assets under management on behalf of charities, private clients, intermediaries, institutions, and pension funds from the UK and around the world.