2018 eprivateclient Top Trust Company, SGG Group, has appointed Serge Krancenblum to the new position of group executive chairman and chair of the group’s supervisory board whilst former eprivateclient 50 Most Influential, Mark Pesco, replaces him as group chief executive. Both appointments are subject to regulatory approval.
Under Mr Krancenblum’s leadership SGG Group has become the fourth largest independent investor services firm in the world, and in his new role he will focus on leading the group’s M&A strategy and driving the group corporate social responsibility agenda. Mr Krancenblum will continue representing SGG at the highest level within the industry, with the authorities and key clients and prospects.
As group chief executive Mr Pesco is responsible for setting the strategic direction of the business and the day to day management of the business. Mr Pesco joined SGG Group as group segment leader, private clients following the acquisition of eprivateclient Top Trust Company First Names Group in 2018 where he previously held the role of chief executive.
His career includes a number of senior industry roles including partner, managing director, group managing director and chief executive and has held senior positions in Singapore, Australia, London and Jersey.
Mr Pesco commented: “I feel extremely honoured to have been given this opportunity at this point in the group’s evolution. Serge has been a tremendous catalyst in this business; his vision together with the support of our private equity partner Astorg has delivered us to where we are today; my job is to build on this success. The combination of our global scale and sectoral expertise together with our unrelenting focus on delivering a high touch service to our clients puts us in a unique position to service the evolving needs of our growing global client base. This is an exciting time to be taking on this role and I’m looking forward to the challenge”.
Mr Krancenblum added: “I am really pleased to have found in Mark the ideal candidate to succeed me as group chief executive. Being able to select someone of his calibre from within our own ranks evidences the incredible pool of experienced and talented people we have within our business. Mark is long recognised for his industry expertise, his unwavering passion for delivering superior client service and his highly personable leadership style. Knowing that the group is in such capable hands leaves me free to take up my own new position as group executive chairman with my full energy and commitment. I believe that together we make an extremely strong team.”
SGG Group has assets under administration exceeding $400 billion and employs a global workforce of over 2,450 people located across its 24 jurisdictions. The firm is backed by European private equity firm Astorg which has total funds under management of over EUR 8 billion. Astorg has offices in London, Paris, Luxembourg, Frankfurt and Milan, plus senior advisers based in Zurich, Paris and London.