Sandaire's CEO Eyes Growth, But No Rush For Scale

Tom Burroughes

19 December 2018

London-based multi-family office , a firm that has expanded significantly in recent years, could increase its roster of international clients, as it currently tilts towards the domestic UK market, its chief executive said. But this is a business in no mood to hurry unnecessarily.

Sandaire, one of a handful of MFOs in the UK and Europe has come a long way since it was founded in 1996 by Alexander Scott to run the wealth of the Scott family, having sold Provincial Insurance and Exeter Bank. The organisation expanded into Singapore in 2012, and two years later, merged with Lord North Street Investment Office (founded in 2000). Sandaire has about £2.6 billion of client assets under management.

Last November, James Fleming, former vice-chairman and CEO at private bank , a group of multi-family offices which regularly share ideas between chief executives and chief investment officers. For instance, Fleming attended a New York meet-up of his fellow association CEOs in October.

Other Wigmore Association members are HQ Trust (Germany), Mutual Trust (Australia), Northwood Family Office (Canada), Pitcairn (US), Progeny 3 (US), Sandaire (UK), Turim Family Office and Investment Management (Brazil), and Promecap (Mexico). These institutions collectively oversee more than $40 billion of AuM – which is plenty of financial muscle.

“We’re not competing with each other and very open about sharing experiences and sharing information about best practice,” he said. “We’re now at a level where we are making client referrals,” Fleming continued.

Organisations such as the Wigmore Association are a way for disparate businesses to scale. At a point in the future, if Sandaire continues to grow, managing that scale might call for further adjustments. For now, its chief executive appears confident about business growth, whatever the uncertain political and economic climate brings.