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People Moves: Bank head departs for family office; Rockefeller director dies; MD of UK family office leaves for venture….

Private bank CEO leaves to head up family office…

Nicolas von Loeper, the CEO of Bethmann Bank, a Frankfurt-based private bank, has left to join Dohle Family Office as managing director. It is not known who he is replacing. 

…and another CEO departs family office

Adam Proctor, the managing director of UK-based family office Seek Ventures has left to join Vertical Future, a vertical farming company. 

Rockefeller director dies

Lord Paul Myners has died at 73 and will be missed. A former UK Treasury minister, he ended his career as director of Rockefeller Capital Management, a multi-family business, led by Greg Fleming and backed by David Rockefeller.

Myners was the adopted son of a fisherman who never knew his biological parents. After a brief stint in journalism, he started his City career at NM Rothschild, then built up asset manager Gartmore for the Cayzer family. 

He was robust on corporate governance, advising the government on how to sort out the banks during the credit crisis. Later, Myners served as chairman of Cevian Capital,  shareholder activist backed by US billionaire investor Carl Icahn. As chairman of Marks & Spencer, he faced down a bid approach by entrepreneur Philip Green, arguing that his stretched finances would undermine its pension scheme.

Myners was also sensitive to the needs of the less fortunate, chairing the Low Pay Commission and campaigning for penal reform.  A believer in good stewardship, he was irked by the failure of institutional shareholders to call listed companies to account, saying this made them “ownerless corporations.”  

McCann joins US advisory family office advisory firm

Bob McCann, who led the growth of UBS’ US wealth business over the decade to 2020, when he retired, has become chairman of NewEdge Capital, a US advisory firm, which manages $30 billion for family offices and advisers. 

McCann’s chief executive is Paul Schneider, a tech specialist and former head of SunGard Financial Networks. Like Addepar, its edge lies in portfolio technology and trading, seen as a serious threat to the big banks from which New Edge was poaching talent before managing to recruit McCann. New Edge’s wealth division, for example, is co-led by Jeff Kobernick and Robert Sechan who signed up in 2020 from UBS, where they led a team managing $20 billion.

Family-owned bank hires new CIO 

Family-owned Weatherbys, an 18thCentury private bank renowned for giving financial advice to the horse racing fraternity, has hired William Morris as chief investment officer. He is replacing John Butters, who has stepped away to run his family’s business. 

Morris comes from consulting firm Oxford Risk, a specialist in behaviour finance, before which he was at Barclays. Prior to joining Weatherbys, Butters was head of investment at Aspinalls Family Office. Late last year, he agreed to become chairman of his own family’s business, travel firm Hoburne. 

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