Stonehage bought Terra Nova Services, LLC, the Philadelphia-based legal, tax, trust and fiduciary support business, which it set up as a joint venture with President Peter Rosenberg, Esq. in 2007. The full integration of Terra Nova into the Group will enable Stonehage to deliver a full service family office platform to American and international clients from the United States.
Initially a legal, tax and trust support business to ultra-wealthy clients in the US, since inception Terra Nova has grown to include:
Coordination of legal and tax advice on cross-border estate planning for families and investors having a U.S. connection;
Fiduciary oversight for trusts and companies;
Related tax compliance, bookkeeping and administrative services; and
Other related family office and support services for cross-border families and investors.
The office will continue to be run by Mr. Rosenberg, with an existing support team of attorneys, public accountants and administrative staff. It will service existing clients across the United States, along with Stonehage’s international clients with operations in the U.S.
Giuseppe Ciucci, CEO and Managing Partner of the Stonehage Group, said: “The United States is a key strategic market for Stonehage and we’re excited about the expertise Peter and his team will bring the Group. Terra Nova was established as a means of servicing our international clients in the United States and we’ve had growing demand for our family office services in the U.S. since its inception in 2007. As our clients become increasingly global, it is vital we continue to establish ourselves in their key markets.”
Peter Rosenberg, President, said: “We’re delighted to be fully incorporated into the Stonehage Group. The company’s international expertise can only bring benefit to our existing clients in the United States, and our team of top-tier professionals have the local knowledge to match. Stonehage is leading the way in providing services to international ultra-wealthy families, and a stronger presence in the U.S. will present significant growth potential for the Group.”
Peter Rosenberg, Esq. was previously a partner in the U.S. law firm, Duane Morris, LLP having obtained his J.D. and LL.M. Tax at Temple University and Villanova University, respectively. The U.S. team also includes Jeffrey A. Hollowniczky, C.P.A., who has had an extensive career public accounting and financial services. In addition, the Group has bolstered the U.S. office immediately with the hiring of Victoria Burk, an eight year private client lawyer who previously worked in the U.S. and Swiss offices of Withers Bergman LLP and for Holland & Knight LLP in Northern Virginia from 2011-2013. A 2006 graduate of Georgetown University (LL.M. Tax), Victoria joins the firm as a Consultant and will provide advice regarding domestic and international income and estate tax planning for Stonehage’s high net worth families and fiduciaries.
About Stonehage
Stonehage is a leading Multi Family Office and trusted adviser to international ultra-high-net-worth families.
Stonehage draws on experience honed over four decades of helping families identify and realise their strategic wealth management goals. Families call upon Stonehage’s multi-disciplinary expertise to address complex requirements that may span geographies and generations across the full spectrum of investment, business, property and lifestyle assets.
Stonehage is independently owned by management and staff, with assets under administration in excess of $35 billion. Stonehage provides a full Family Office service to over 150 major clients and offer a range of services to over 850 others. Stonehage employs over 400 people in 13 offices around the world.
Stonehage has received widespread recognition for the excellence of its services, including the prestigious Family Office of the Year award from the Society of Trust and Estate Practitioners.
About Terra Nova Services, LLC
Terra Nova Services was established in 2007 as a joint venture between the Stonehage Group and Peter Rosenberg, Esq.
Terra Nova combines experience and expertise to support client families with informed guidance and the coordination of external specialists in a wide variety of fields. The Group provides an essential support, operational and administrative platform for high net worth families. Terra Nova works closely with a family’s professional advisers and trustees to coordinate and enhance the administration of domestic U.S. trusts and companies and provide other professional and administrative services.
Contacts
Infinite Public Relations
Rebecca Green, 917-478-6546
