The City of London Corporation has appointed Stanhope Capital Group as an outsourced chief investment officer to “diversify” its portfolio and “take advantage of market opportunities”.
Through its new role, the investment management firm will provide the City of London Corporation with strategic investment and asset allocation advice. It will also work alongside the governing body’s in-house corporate treasury and investment property teams.
The City of London Corporation is the governing body of the Square Mile, which plays a major role in supporting the UK’s financial and professional services industry at home and abroad.
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Henry Colthurst, chairman of the City Corporation’s finance committee, said: “It will be vitally important to ensure that our investment portfolio is appropriately diversified, protected against risks, and positioned to take advantage of market opportunities. We also wish to work with potential joint investors in some unique and exciting opportunities which the City Corporation is planning for the future.
“With that in mind, we are pleased to be working with Stanhope Capital and able to tap into their considerable experience in advising endowments, local authorities and major asset owners.”
Stanhope Capital Group is one of the world’s largest independent wealth management and advisory firms, with $27bn of assets under management at September 2022.
Daniel Pinto, chairman and CEO of Stanhope Capital Group, said: “It will be a privilege to work closely with the City of London Corporation which is vital to the effective running of the UK’s financial centre.”
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