Two senior figures from business and finance are also joining the group, which rebrands next year, as partners.

LJ Partnership, the London-headquartered private wealth house which is rebranding to Alvarium Investments next year, has brought in two financial sector heavyweights as partners, and announced that a family office has bought a 40 per cent stake. LJ is expanding in a number of regions, including Asia. 

The nine-year-old firm has appointed Ken Costa, the former chairman of Lazard International, global head of mergers and acquisitions at UBS and chairman of Europe, Middle East and Africa at UBS Investment Bank, and Ali Bouzarif, the former head of investment execution at the Qatar Investment Authority and former non-executive director of Heathrow Airport, Canary Wharf (formerly Songbird Estates), American Express GBT, and Accor.

Costa will also take on the role of co-chairman based in London, while Ali Bouzarif will work out of the partnership’s new office on 5th Avenue in New York. Both will act as executive board members.

The arrival of the duo is joined by an equity investment from New York-based family office Dilmun, which represents a family originally from the Gulf region of the Middle East. LJ Partnership oversees more than £11 billion (around $15 billion) of assets for individuals, family offices, foundations and charities.

“The group’s global shareholder base, which now spans the Far East, the Gulf and the Americas, is committed to investing additional capital to fund expansion into new geographies across the US, Europe and Asia Pacific, and new investment strategies including M&A, private equity, technology and advisory, which will supplement its already strong position in direct real estate and public markets,” the firm said in a statement. 

LJ Partnership said its expansion is happening against a background of expected big shifts in wealth to groups such as millennials. It quoted a figure of more than $24 billion as likely to move between now and 2020.

The Peterson Group in Hong Kong will remain a shareholder in LJ Partnership, together with founding shareholders and management holding the balance of shares. Peterson, represented by Tony Yeung, will work with the new and existing partners. Co-chairman Andrew Williams (formerly CEO) is currently focused on driving the firm’s growth in Asia and Australasia, with new offices planned imminently for Singapore, Sydney, and Auckland.  Alexander de Meyer (formerly COO) has been appointed CEO and is based in London.  LJ Partnership currently employs 200 people at eight office locations across the world. Offices are located in London, New York, Miami, Hong Kong, New Zealand, Geneva, Lisbon, and the Isle of Man.

In May last year, LJ Partnership appointed Ross Belhomme and Anne-Catherine Gamper, joining the Swiss arm of LJ Partnership’s trust and administration business with titles of managing director and associate director, respectively. They joined from law firm Saffery Champness’ Swiss business where they have worked together for the last five years. 

Belhomme has also held senior roles at Barclays’ wealth management business, JP Morgan, and HSBC Private Banking. Gamper has a particular focus on the charitable and philanthropy sector. Both are members of the Society of Trust and Estate Practitioners. The group also shifted its Swiss office to Geneva, having previously been located in Neuchatel.