2020 Top 10 Largest Multi-Family Offices in the World
Which is the largest multi-family office in the world? How much wealth are managed in the multi-family office? Who founded the multi-family office? Which are the 10 largest multi-family offices in the world in 2020?
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Related:
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
- 2020 List of International Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
Reports
- UBS Global Family Report 2020
- Wealth-X Report: The Billionaire Consensus 2020
- Boston Consulting Group Global Wealth Report 2020
- KPMG Report – Global Family Business Tax Monitor 2020
- Top Family Office Reports in 2020
- Top Global Wealth Reports in 2020
- Top Research Reports in 2020
Find out the 2020 top 10 largest multi-family offices in the world.
1. Bessemer Trust, United States
- Bessemer Trust
- HQ: New York, United States
- Founded: 1907
- Founder: Family Office of Henry Phipps
- AUM: $170 billion (2019)
- Website: Bessemer Trust
Bessemer Trust is the largest multi-family office in the world, managing more than $170 billion of assets and serving more than 2,500 clients. Bessemer Trust is founded by Henry Phipps (1839 – 1922) in 1907, who is the founding partner and chief financial officer of Carnegie Steel. Carnegie Steel is the largest American steel company in the 20th century, founded by American businessman Andrew Carnegie.
- Chairman: Stuart S. Janney, III
- CEO: Marc D. Stern
- President: George Wilcox
Bessemer Trust is serving the 7th generation of the founding family of Henry Phipps. As a private company, and not required to do so, the firm publishes an annual report to provide transparency and open communication to clients, shareholders and employees. In 2019, the firm reported revenue of $679 million, $138 million in net profit and a 35% return on average equity for shareholders.
2. Stonehage Fleming, United Kingdom
- Stonehage Fleming
- HQ: Jersey, Channel Islands, United Kingdom
- Founded: 2015 (Stonehage 1976, Fleming 2000)
- Founder: Stonehage and Fleming
- AUM: $55 billion (2019)
- Website: Stonehage Fleming
Stonehage Fleming is the 2nd largest multi-family office in the world, managing more than $55 billion of assets. Stonehage Fleming is formed in 2015 with the merger of Stonehage and Fleming Family & Partners (FF&P).
- Managing Partner & Deputy Chairman: Guiseppe Ciucci
- Group CEO: Chris Merry
Stonehage is founded in 1976 in London to provide family office, trust and company services for families from South Africa. Fleming Family & Partners (FF&P) history dates back to 1873. Scottish businessman Robert Fleming (1845 – 1933) had founded Robert Fleming & Co, a merchant bank and investment firm in 1873. In 1923, he founded Southern Investment Trust as a family trust.
In 2000, Robert Fleming & Co was sold to Chase Manhattan, which merged with JP Morgan in 2000 (JP Morgan Chase) for more than $7 billion. With the sale, the family of Robert Fleming created Fleming Family & Partners in 2020 to manage the family wealth. In 2002, the firm started providing family office services to other families. In 1970, Robert Fleming & Co had formed a joint venture Jardine Fleming, with one of the most successful business family in the world, Jardine Matheson.
3. Rockefeller Capital Management, United States
- Rockefeller Capital Management
- HQ: New York, United States
- Founded: 2018 (1882)
- Founder: Family Office of John D. Rockefeller, Rockefeller & Co., and Viking Global Investors
- AUM: $69 billion (31st Dec 2020)
- Website: Rockefeller Capital Management
Rockefeller Capital Management is the 3rd largest multi-family office in the world, managing more than $69 billion of assets (31/12/2). Rockefeller Capital Management was founded in 2018 by Rockefeller & Co. and hedge fund Viking Global Investors.
- President & CEO: Gregory J. Fleming
In 2018, Rockefeller Capital Management was formed by the injection of Rockefeller & Co, which was managing $18 billion of assets serving HNWs, UHNWs, foundations, endowments and corporations. Rockefeller & Co was once the family office of American oil tycoon John D. Rockefeller.
Rockefeller Capital Management is headed by President and CEO Gregory Fleming, who previously was President of Morgan Stanley Wealth Management and Morgan Stanley Investment Management, and President and Chief Operating Officer of Merrill Lynch. On founding in 2018, he set a goal of growing Assets under Management to $100 billion within 5 years (2023).
Rockefeller Capital Management is owned by a trust representing the broader Rockefeller family, the firm’s management, and hedge fund Viking Global Investors. The Board of Rockefeller Capital Management includes Gregory Fleming, President & CEO of Rockefeller Capital Management; Rockefeller family members David Rockefeller, Jr. and Peter M. O’Neill; Brian Kaufmann, Portfolio Manager at Viking Global Investors; John Brennan, Chairman Emeritus and Senior Advisor of The Vanguard Group; Andrea Jung, President & CEO of Grameen America; Shelly Lazarus, Chairman Emeritus of Ogilvy & Mather; Martin Mannion, Chairman and Senior Advisor of Summit Partners; and Paul Myners, former Minister in the UK’s Treasury.
(Information & data updated in 2021)
4. Glenmede, United States
- Glenmede
- HQ: Philadelphia, Pennsylvania, United States
- Founded: 1956
- Founder: Family Office of Pew
- AUM: $40 billion (2020)
- Website: Glenmede
Glenmede is the 4th largest multi-family office in the world, managing more than $40 billion of assets and serving more than 2,000 clients. Glenmede Trust Company is founded in 1956 by the Pew family as the Trustee and Administrator of The Pew Memorial Trust. The Pew family is the founding family of Sun Oil, founded by John Newton Pew (1848–1912).
- Group President & CEO: Gordon B. Fowler Jr.
Glenmede Trust Company was founded by 4 children of Joseph Newton Pew and Mary Anderson Pew in 1956 to fund the Pew Memorial Trust, in honor of their parents’ extensive philanthropic legacy. The trust was funded with Sun Oil Company stock, to make donations to support charitable organizations that shared the family’s values in the fields of education, medicine, religion and social welfare.
The Pew Charitable Trusts is United States’s top 10 largest foundation, with assets around $5 billion and annual grants of more than $200 million.
5. Oxford Financial Group, United States
- Oxford Financial Group
- HQ: Carmel, Indiana, United States
- Founded: 1981
- Founder: Jeffrey H. Thomasson
- AUA: $26 billion* (2020)
- Website: Oxford Financial Group
Oxford Financial Group is the 5th largest multi-family office in the world, managing more than $26 billion of assets and serving more than 7,00 clients. Oxford Financial Group is founded in 1981 by Jeffrey H. Thomasson, the current CEO & Managing Director. He founded the firm 1981 at the age of 21, upon receiving his MBA from the Indiana University Graduate Business School.
- CEO & Managing Director: Jeffrey H. Thomasson
Oxford Financial Group is a fee-only financial advisor, do not receive any commissions & incentives or have any revenue-sharing arrangements with third parties.
* Assets under Advisory
6. Silvercrest Asset Management Group, United States
- Silvercrest Asset Management Group
- HQ: New York, United States
- Founded: 2002
- Founder: Employee-owned
- AUM: $24 billion (Sept 2020)
- Website: Silvercrest Asset Management
Silvercrest Asset Management Group is the 6th largest multi-family office in the world, managing more than $24 billion of assets. Silvercrest Asset Management Group is founded in 2002 as an independent and employee-owned company.
- Chairman & CEO: Richard R. Hough III
Silvercrest Asset Management Group was founded in 2002 led by George Moffett Cochran V (1950 – 2013) and Partners of New York-based firm Donaldson Lufkin Jenrette, which was sold to Credit Suisse in 1999.
At founding in 2002, Private equity firm Rosemont Investment Partners invested into Silvercrest. In 2007, Rosemont Investment Partners sold its shares to Vulcan Capital, the family office and investment company of Microsoft co-founder, Paul Allen. In 2013, Silvercrest Asset Management Group went public on NASDAQ. In 2019, the firm reported revenue of $102 million and net income fo $15.4 million.
7. Pathstone Federal Street, United States
- Pathstone Federal Street
- HQ: Boston, Massachusetts, United States
- Founded: 2010, 1991 (Pathstone, Federal Street)
- Founder: Employee-owned
- AUM: $22 billion (Sept 2020)
- Website: Pathstone Federal Street
Pathstone Federal Street is the 7th largest multi-family office in the world, managing more than $22 billion of assets. Pathstone Federal Street is founded in 2016 with the merger of Pathstone Family Office and Federal Street Advisors.
- President: Matt Fleissig
- Co-CEO: Steve Braverman
- Co-CEO: Allan Zachariah
Pathstone Family Office was founded in 2010 by Steve Braverman, Matt Fleissig and Allan Zachariah as an independent, family and employee-owned firm. Federal Street Advisors was founded in 1991 by John LaPann.
8. BBR Partners, United States
- BBR Partners
- HQ: New York, United States
- Founded: 2000
- Founder: Brett Barth, Evan Roth, Mike Anson, Todd Whitenack, Arthur Black
- AUM: $18 billion (June 2020)
- Website: BBR Partners
BBR Partners is the 8th largest multi-family office in the world, managing more than $18 billion of assets and serving more than 150 clients. BBR Partners is founded in 2000 by Brett Barth, Evan Roth, Mike Anson, Todd Whitenack and Arthur Black.
- Co-CEO: Brett H. Barth
- Co-CEO: Evan M. Roth
BBR Partners is majority owned by employee partners, and had grew 100% organically with no acquisitions. BBR Partners is only focused on advising individuals and families.
9. Tiedemann Advisors, United States
- Tiedemann Advisors
- HQ: New York, United States
- Founded: 1999
- Founder: Carl Tiedemann, Michael Tiedemann, Craig Smith
- AUM: $17 billion (June 2020)
- Website: Tiedemann Advisors
Tiedemann Advisors is the 9th largest multi-family office in the world, managing more than $17 billion of assets, $22 billion Assets under Advisory and serving more than 400 clients. Tiedemann Advisors is founded in 1999 as the Tiedemann Trust Company by the late Carl Tiedemann, his son Michael Tiedemann, and Craig Smith.
- President: Craig Smith
- CEO: Michael Tiedemann
In 2016, Tiedemann Advisors and Presidio Capital Advisors merged under the Tiedemann Advisors brand. In 2017, Tiedemann Advisors acquired Threshold Group, a family office and wealth advisory firm.
10. Veritable, United States
- Veritable
- HQ: Delaware County, Pennsylvania, United States
- Founded: 1986
- Founder: Michael A. Stolper
- AUM: $16 billion (June 2020)
- Website: Veritable
Veritable is the 10th largest multi-family office in the world, managing more than $16 billion of assets and serving more than 220 clients. Veritable is founded in 1986 by Michael A. Stolpher as Stolper & Co., and investment advisory firm.
- Founding Partner & CEO: Michael A. Stolper
Veritable is an independent investment advisor, and operates as a multi-family office. In the founding year 1986, the firm managed $60 million of assets and advising 12 families.
This is the 2020 top 10 largest multi-family offices in the world. This list excludes multi-family offices that are operated within banking groups or subsidiary of banking groups.
More
- 2020 List of International Private Banks in Hong Kong
- 2020 List of Boutique Private Banks in Hong Kong
- 2020 List of International Private Banks in Singapore
- 2020 List of Boutique Private Banks in Singapore
Related:
- 2020 Top 10 Largest Family Office in the World
- 2020 Top 10 Largest Multi-Family Offices in the World
Reports
- UBS Global Family Report 2020
- Wealth-X Report: The Billionaire Consensus 2020
- Boston Consulting Group Global Wealth Report 2020
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