Corient, the U.S. subsidiary of CI Financial Corp., announced the purchase of two European money managers on Tuesday, making it the world’s largest non-bank wealth manager. Stonehage Fleming — a family office and fiduciary services provider — and Stanhope Capital Group — a wealth management and advisory firm — together will push Corient’s assets under management to roughly US$430 billion.
Details of the purchases were not disclosed.
“This combination of three storied firms creates a truly global wealth manager and multi-family office with formidable resources and deep expertise in serving the world’s wealthiest individuals and families,” said Kurt MacAlpine, partner and CEO of Corient in a media release. “By integrating the strengths of each organization, Corient will be able to deliver seamless, end-to-end service to clients anywhere in the world — in a way that doesn’t exist today,”
Stonehage Fleming and Stanhope Capital will add more than US$175 billion and almost US$40 billion respectively in client assets to Corient. The deal gives the CI Financial subsidiary a presence in Europe, the Middle East and Africa.
“This next chapter enables us to remain true to our history while expanding our reach and impact for clients,” said Giuseppe Ciucci, executive chairman of Stonehage Fleming. “We … see Corient as the perfect home for our people, given its unique partnership model and commitment to collaboration and professionalism.”
The Corient model will be extended to both Stonehage and Stanhope. Currently, 260 firm partners own and operate the firm.
FFT Wealth Management, a New York-based multi-family office that serves ultra high-net-worth clients is part of the Stanhope deal.
The deal is expected to close in early 2026. The combined business will operate under the Corient brand.
Ciucci will serve as partner and chairman. Stanhope founder Daniel Pinto will be partner and CEO of the international business. Both will join the firm’s global board of directors. Stonehage CEO Stuart Parkinson will be a partner and president of the international business. Keith Bloomfield, founder and CEO of FFT Wealth, will be partner and vice-chairman.
CI Financial was taken private in a $4.7-billion transaction with Abu Dhabi-based Mubadala Capital that was finalized last month.