Stonehage Group, an international multi-family office, has bought out its joint venture partner, Terra Nova Services, in the United States.
The Philadelphia-based legal, tax, trust and fiduciary support business entered into the joint venture with Stonehage in 2007 and this full integration will allow Stonehage to deliver a full family office service to clients located in the United States.
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Peter Rosenberg, president of Terra Nova, will continue to oversee the office with his current team.
Giuseppe Ciurcci, chief executive of Stonehage, said: "The United States is a key strategic market for Stonehage and we’re excited about the expertise Peter and his team will bring the group. As our clients become increasingly global, it is vital we continue to establish ourselves in their key markets."
