UHNW Wealth Managers
London, United Kingdom
Wealth Management & Private Banking
Richard Brass is Berenberg’s head of UK wealth and asset management and has presided over a well-oiled machine ‘with fantastic colleagues’ since joining the German bank in 2011 from Schroders. He looks after a range of entrepreneurs and business owners, as well as philanthropists, charities and foundations, high growth tech professionals and trusts. A large proportion of his clientele belong to the UHNW and HNW classes.
Brass’ team has expanded in wealth and institutional markets thanks to the establishment of the Berenberg equity funds, which recently passed their three-year milestone in September 2020.
‘Our funds showcase the results from the considerable investment across our investment platform for GBP/Euro multi-asset and European and global equity strategies,’ says Brass.
Berenberg’s advisers act as ‘knowledge curators’ for clients, leveraging the firm’s considerable expertise across asset management, corporate and investment banking. ‘We have short lines of communication to specialists that can help provide in-depth analysis about financial markets,’ adds Brass. ‘Alongside our organic growth strategy, it also ensures we can adapt quickly to changing market conditions, regulations and client needs.’ He also provides clients with objective investment advice across all areas, from single strategies or holistic asset allocation.
He is proud of the bank’s culture of strong accountability and teamwork. ‘Our wealth management delivers discretionary, advisory and custody/execution services specialising in direct investing.
We are open architecture, although our globally leading equity and economic research offers a competitive advantage,’ he says.
The interest in environmental, social and governance-type investments is not showing any signs of waning. With the establishment of an ESG office in 2019 to meet this growing area of interest among clients, Brass is looking forward to the evolution of Berenberg’s investment offering. ‘We additionally give support as needed should clients develop their impact investing and pro bono/charitable activities,’ he says.
Brass qualified as a chartered accountant at KPMG before beginning his career in corporate finance. He has directorships across the Montpelier Foundation and the Guy Foundation, founded Impact Ventures UK, a social enterprise investment fund in 2012 and co-founded Re-Generate Trust in 2019. He is the chairman of the Arts and Culture impact fund and sits on the advisory council of the London Philharmonic Orchestra and Big Society Capital.
He won Impact Investor of the Year award at the 2020 Digital Agenda Awards and is a mentor at Unreasonable Group.
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