29.06.2011Berenberg expands UK private banking management team

London. Richard Brass is to join the management team of Berenberg's UK private banking business.

Berenberg's City-based private banking office was established by Ross Elder and Fred Hervey at the beginning of the year. Richard, a former Client Director at Schroders Private Banking, will work alongside Ross and Fred to drive the strategic direction of the business.

An important part of Richard's role will be developing Berenberg’s links within the private wealth market for business leaders, executives and entrepreneurs. Richard will be responsible for developing the Entrepreneur’s Office and the Berenberg family office advisory business, Consilisto, into the UK market place.

Fred Hervey said: “It is hard to find first-class wealth management practitioners so we are delighted to welcome Richard with his background in corporate finance and in advising business owners and entrepreneurs. Equally, his background in investment banking reinforces our commitment to providing sophisticated investment advice, as part of the full client service mandate we are seeking to offer in the UK. Berenberg has over 420 years’ experience of advising business owners, so he will be supported by a well-developed culture for providing long-term solutions and long-standing relationships with clients, delivered in an innovative way.”

Ross Elder said: "Richard's arrival will help us broaden our client proposition as we build on the promising start we have made in the UK. Berenberg's background and approach has been well received with our clients and third parties and we are looking forward to building on this momentum. We are very conscious of the importance of providing a holistic and differentiated offering which benefits our clients. Richard will be integral to this approach."

Richard said: “Berenberg brings a robust and transparent institution to the UK which can add value to clients throughout the wealth cycle. What clients need, and in fact what they should demand, is a first class investment strategy which empowers them to decide exactly how they want their wealth to be managed and involving them in that process. I look forward to working with talent at the different stages of wealth and working with clients who support the next generation. There are few independent private banks remaining in the UK and this, coupled with a very secure foundation and a commitment to the UK market, makes the Berenberg model a very appealing one.“

Richard Brass

Having trained as a chartered accountant with KPMG and worked in their corporate finance team (1994-2000), Richard moved to Compass Advisors, an international corporate finance advisory business, where he co-founded their European office. He moved to Montpelier Asset Management in 2006, an emerging markets investment firm before joining Schroders in 2008, where he used his experience to advise business owners and entrepreneurs. He also worked with the owners of a wide-range of social impact businesses through his involvement with Wavelength Connect, a global leadership programme for business leaders, entrepreneurs and social innovators. Earlier this year, he became a Director of the recently founded Montpelier Foundation Limited which will look to support charities and social impact businesses globally.

A PDF download you will find here.

---