DURBAN – Maitland has announced the establishment of Maitland Family Office, a multifamily office to service high net worth families, individuals and entrepreneurs in South Africa.
Maitland is a global advisory and administration firm.
Maitland has connected its existing advisory, fiduciary and investment teams in South Africa under the Maitland Family Office banner. To gain further scale and better its offering, it has also acquired 100 per cent of Johannesburg-based Talaria for an undisclosed sum.
According to the company, they wanted to open a multi-family office in South Africa because of the demand for offshore and cross-border services to manage wealth.
Maitland Family Office will be led by an executive committee comprising of the former owner of Talaria Cheryl Howard and five other people. Howard will lead the fiduciary team. Maitland was founded in Luxembourg 42 years ago and according to the company, they count some of the world’s wealthiest families as their clients.
The family offices offer a total outsourced solution to managing the financial, tax, legal and investment affairs of an affluent individual or family.
Herman Troskie the MD of Private Clients at Maitland said that the wealthy are quickly becoming “global citizens” and need a service that is truly international and delivered seamlessly across borders.
Maitland Family Office has an operational presence in three major South African cities including Cape Town, Johannesburg and Durban.
The group also has 17 offices worldwide with private clients serviced mainly from Guernsey, Isle of Man, London, Luxembourg, Malta, Mauritius and Monaco.
We are also noting an increased need for philanthropy services with more and more South Africans wanting to give back to society,” said Troskie.
Cheryl Howard the MD of Maitland Fiduciary Services South Africa said, "I am tremendously excited about Maitland Family Office, and look forward to leading our comprehensive fiduciary offering in South Africa".