A new multi-family office/investment office for wealthy individuals and families in London, backed and part-owned by Spain’s MdF Family Partners and US-based WE Family Offices, will reunite five key investment specialists from Lord North Street.
The five investment specialists are among seven investment industry executives who have joined forces to set up Wren Investment Office, as the new business is known, in affiliation with the Spanish and US operations.
The “Wren” name is an allusion to St Paul’s Cathedral architect Sir Christopher Wren (1632 – 1723), and was chosen for its connotation of “immense solidity and longevity while also reflecting a strong London presence”, as well as the importance of planning for purposes of longevity and future generations, according to the company.
Lord North Street was a London-based multi-family private investment office founded in 2000 that merged in 2014 with another London MFO, SandAire. Last year the combined entity re-branded as Sandaire Investment Office.
Michael Parsons, (pictured right), one of the ex-Lord Northers, will head up the new company as chief executive officer, alongside such other ex-Lord Northers as Drew McNeil, who is head of client relationships at Wren, Eirian Jones, head of investments, and Stephen Doherty, chief operating officer.
Chief investment officer is Daniel de Fernando, who has previous connections to both Lord North Street and MdF Family Partners.
In a statement announcing its founding, Wren said its clients will “benefit from a global investment view with local implementation”, helped by its alliance with the MdF and WE businesses.
Wren CEO Parsons added that the company is being structured “to match the multi-generational requirements of our clients with strong incentives to attract talent”, and that a succession plan was “being hardwired into our shareholder agreement”.
The offices are located on Wilfred Street in London’s Westminster district, not far from Buckingham Palace.