Fleming Family & Partners (FF&P)

Fleming Family & Partners ("FF&P") has formed a strategic partnership with Standard Chartered to provide private wealth management services in Asia. Through this cooperation, FF&P will provide its wealth management expertise and service capability to ultra high net worth individuals and families through Standard Chartered's distribution network and contact base in the Far East, India and the Middle East.

In support of the partnership, Standard Chartered has agreed to acquire a 20% stake in FF&P through the acquisition of new shares and existing shares for £45mlion, valuing FF&P at £225mlion (including the subscription for new money of £5mlion). Consideration will be largely in the form of new Standard Chartered shares with some small shareholders receiving cash.

Canaccord Genuity advised the Board of FF&P in valuation, structuring and negotiation of the transaction. It was important for FF&P to find the right balance between forming a close link with Standard Chartered and retaining the independence that many of its current and prospective clients value it for.