The Stonehage Group, based in London, is expanding to the U.S. through the acquisition of Terra Nova Services LLC.
Philadelphia-based Terra Nova provides legal, tax, trust and fiduciary services. The two companies had set up a joint venture in 2007. Terms of the deal were not disclosed.
For Stonehage, the acquisition allows it to deliver full-service family office offerings to American and international clients from the U.S. Terra Nova’s president Peter Rosenberg will continue to lead the office.
The buyer provides advice to high-net worth families.