Stonehage Fleming has appointed Chris Merry as chief executive. He replaces Giuseppe Ciucci who has held the position since 1997.

Mr Ciucci will remain managing partner of the firm and will also become deputy chairman of the board.

“After 22 years as group chief executive the time is now right to appoint a new person to this role, to bring some fresh ideas and direction and enable me to concentrate first and foremost on serving our clients,” said Mr Ciucci. “It has given me great pride and pleasure to lead such a talented team in transforming our business into the leading European multi-family office.”