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Former Lord North Street wealth managers and professionals are joining forces to establish a private multi-family office.
Wren Investment Office is London-headquartered and backed by Spain’s MdF Family Partners and US-based WE Family Offices. The office has been established by a team consisting of seven investment professionals, five of which were working side by side at Lord North Street. The majority confirmed their positions with Sandaire Investment Office following its purchase of Lord North Street in 2014.
CEO of the company Michael Parsons, who was accountable for client relationships and marketing, is currently in charge of Wren. Before joining Lord North Street in 2008, he performed the functions of an analyst and assistant fund manager at Dalton Strategic Partnership.
Drew McNeil has been appointed to the post of the head of client relationships at Wren.
Mr. McNeil has already had the experience of holding a similar post at Sandaire and Schroders Private Bank, which he joined in 2005.
Meanwhile, Stephen Doherty has been named chief operating officer. He spent a total of nine years at Lord North Street and was head of operations at Sandaire.
Wren has also united the former investment committee at Lord North Street.
Daniel de Fernando, who served as CIO for Lord North Street between 2011 and 2013, has been appointed to the position of CIO. In the past, De Fernando’s firm, MdF Family Partners, shared a strategic relationship with Lord North Street.
Eirian Jones who had joined Lord North Street in 2005, was now offered a position of the head of investment research at Wren.
De Fernando said: “Having worked previously with the investment team I can highlight the strength of the investment process and am delighted to take on the role of CIO.”
Unlike her allies, Mel Lagaomasino is the one with no experience of being a Lord North Street employee. She has been appointed to the position of a non-executive director of Wren.
Lagaomasino is the founder and CEO of WE Family Offices, a global family office which serves ultra-high net worth families. Her previous working experience includes the position of CEO of JP Morgan Private Bank.
Christopher Kemball is the final member of the team. Mr. Kemball has a vast experience of working in investment banking field which includes working in New York with Kleinwort Benson, Dillon Read and Barings, and being recently named chair of Wren.
Wren has vowed to offer “truly independent investment management with best practice operations and reporting.”
Lagomasino added: “The launch of Wren Investment Office is an exciting development for WE Family Offices and introduces the philosophy of sustaining wealth by managing it like a well-run company to ultra-high net worth families in the UK.”