The multi-family office has created a new leadership position within its investment arm.

Stonehage Fleming has appointed Graham Wainer as chief executive and head of investments of its investment management division in London.

Meanwhile, Ian Marsh, who was deputy CEO of Stonehage Fleming Investment Management, has left the firm. His role is not being replaced, a spokesperson for the business told this publication. Marsh, who joined Stonehage Fleming in 2012, was previously at Credit Suisse for 20 years, latterly at its UK private bank.

Wainer previously held a variety of senior roles at GAM, which he joined in 1998, most recently as group head of investments – multi-asset class solutions. He was also chairman of GAM’s investment advisory board, with responsibility for the firm’s £8 billion ($11 billion) discretionary mandates and co-mingled funds. Prior to that, he was global head of private clients and portfolio management at the firm.

In the newly-created role, Wainer will report to Anton Sternberg, head of Stonehage Fleming's investments division. The appointment is subject to regulatory approval.

“Graham’s wealth of private client experience will contribute to further enhancing our distinctive family office investment proposition,” said Giuseppe Ciucci, group chief executive of Stonehage Fleming.

Stonehage Fleming's investment business manages more than $11 billion of assets on behalf of families and charities. The group advises on over $40 billion of assets, serving over 250 wealthy families from 13 offices across eight jurisdictions.