Paris-based investment advisory firm Cedrus Partners has appointed Romain Ribello to lead the firm’s new office in Madrid.
Cedrus Partners will open the Madrid office next July targeting mainly Spanish family offices but also associations and foundations.
Ribello, who will land in Madrid on 15 of June, will be responsible for developing the business in Spain through the collaboration with local agents (family offices, management associations, etc) aimed at further understanding the Spanish market.
Reporting to Matthieu Broquère, partner and responsible for the family office department at Cedrus Partners, Ribello joins Cedrus Partners from BNP Paribas.
Ribello started his career working for the wealth management division of BNP Paribas Madrid, moving later to Paris, where he worked at first responsible for the management of private banking clients’ mandates and subsequently in charge of the bank’s global clients.
Cedrus Partners, which reported over 30% growth annually since four years, opened a third office in France in the city of Lyon in April, in addition to the Paris and Bordeaux’s locations.
The company has over €17bn in assets under advisory from more than 50 clients among which institutional investors, single family offices, associations, foundations and companies’ pension schemes.
The firm has seen its number of clients increasing by 20% during the first quarter of 2018, said Matthieu Broquère, partner and responsible for the family office department at Cedrus Partners, to InvestmentEurope.