Kleinwort Benson establishes private investment office

Kleinwort Benson has set up a private investment office by acquiring Karrig Strategic Capital.

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Karrig Strategic Capital is a six-person team headed by Paul Kearney who, before joining Karrig, was chief executive officer at Cardinal Asset Management responsible for setting up the firm’s alternative asset business. Gene Salerno, responsible for investment and portfolio research at Karrig, was previously head of research at Cardinal Asset Management.

At the same time, Kleinwort Benson has recruited two senior private bankers from the ultra high net worth team at Schroders to join the Kleinwort Benson private wealth management team, headed by Guy McGlashan.

Jeremy Brown ran Schroders’ core advisory management business in London and will join along with Stephen Campbell, with who he worked at JP Morgan.

Paul Kearney and Jeremy Brown will both sit on Kleinwort Benson’s executive committee to help set strategy and the day-to-day management of the bank.

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