October 11, 2010
Kleinwort Benson Bank today announces the appointment of Sally Tennant as Chief Executive, effective from mid-January 2011 (subject to regulatory approval). Sally joins from Lombard Odier Darier Hentsch (“Lombard Odier”), the Swiss private bank, where she was Chief Executive of its London-based private banking operation. Sally replaces Robert Taylor, who joined Kleinwort Benson as CEO in 2004.
Kleinwort Benson has a banking heritage dating back to 1786. Having established an excellent reputation for its private banking, fund administration and wealth management businesses in the UK and Channel Islands, the Group's ambition is to expand its asset management and corporate advisory services across Europe. The Group continues to benefit from a strong capital position, excellent quality loan book and conservative risk management culture.
Kleinwort Benson’s strategy to strengthen its asset management and corporate advisory offering,business lines traditionally associated with Kleinwort Benson’s historically strong merchant banking franchise, is further demonstrated by today’s completion of the acquisition of KBC Asset Management Limited (Dublin) which has been renamed Kleinwort Benson Investors Dublin Limited. This brings the Group’s assets under management to more than €10 billion. Commenting on the appointment of Sally Tennant, Leonhard Fischer, CEO of Kleinwort Benson Group and Chairman of Kleinwort Benson Bank said:
“We are delighted to welcome Sally to Kleinwort Benson. In an already distinguished career, spanning over thirty years in private banking and wealth management, Sally has held significant management roles in highly regarded organisations. She has also been instrumental in successfully founding and driving forward new businesses.
“By creating a dynamic and diverse financial services organisation under the Kleinwort Benson brand we are able to offer an impressive breadth of financial advisory services under one roof, ensuring each solution fits our client’s individual needs – be that for their private or corporate interests. We are looking forward to working with Sally as she brings her considerable experience to bear in further developing the Kleinwort Benson franchise.
“I would also like to thank Robert Taylor for his contribution over the past six years. We are grateful for his efforts in starting the transformation of Kleinwort Benson to achieve our goal of restoring its name to one of the European greats in merchant banking.”
Sally Tennant said:
“I am delighted to be joining Kleinwort Benson Bank as its new Chief Executive. This is a unique opportunity to play a key role in the next stage of development of an illustrious brand. I am looking forward to working with the team to build on its strong track record.”
Robert Taylor added:
"I am very proud of the strong reputation the firm has built in private banking and wealth management. It has been a privilege to work with the talented team at Kleinwort Benson over the last six years and I think Sally is an excellent choice to take the business further. I look forward to a break before deciding what my next role might be.”
- Ends -
Enquiries:
Kleinwort Benson
Carly Connelly
Carly.Connelly@kleinwortbenson.com
+44 (0) 20 3207 7053
+44 (0) 7506 716 718
Rachel Butler
Rachel.Butler@kleinwortbenson.com
+44 (0) 20 3207 7239
+44 (0) 7957 427 066
Gordon Puckey
gordon@phoenixfinancialpr.co.uk
+44 (0) 20 7947 2856
+44 (0) 7799 767 468
Notes to Editors:
About Kleinwort Benson
Kleinwort Benson is one of the most historic names in British banking with roots dating back to the 1790s and provides a range of bespoke financial services solutions to private individuals and corporates. We offer our clients advice and solutions which are completely tailored to their individual needs. With an offering spanning currently investment management, tax and banking, trust and fiduciary services we already provide our clients with a truly holistic service.
By developing a dynamic and diverse financial services organisation under the Kleinwort Benson brand we aim to offer an impressive breadth of financial advisory services under one roof, ensuring each solution fits our client’s individual needs – be that for their private or corporate interests. Operating from the City of London, the Channel Islands and a network of regional offices, and via a range of networks across the globe, we are always able to be close to our clients wherever in the world they are.
In addition, Kleinwort Benson is one of the first major banks to have established in the Channel Islands nearly 50 years ago and is consistently ranked as one of the top ten providers of administration and custodian services, working with fund managers across a wide range of traditional and alternative asset classes.
Kleinwort Benson is the brand name of Kleinwort Group Limited. Kleinwort Benson is authorised and regulated by the Financial Services Authority, registered number 119269 and is a member of the London Stock Exchange. Kleinwort Benson is a company incorporated in England and Wales with company number 2056420 and VAT number 991 2295 95. Registered Office 30 Gresham Street London EC2V 7PG. Telephone +44 (0) 20 3207 7000. Telephone calls may be recorded.
Kleinwort Benson is the brand name for Kleinwort Benson (Channel Islands) Limited which is regulated by the Guernsey Financial Services Commission. Kleinwort Benson is a participant in the Guernsey
Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to£50,000.00 subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000.00 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request. Kleinwort Benson is also authorised and regulated by the UK Financial Services Authority in respect of UK regulated mortgage activities, and its firm reference number is 310344. Registered Office Dorey Court Admiral Park St Peter Port Guernsey GY1 3BG. Telephone +44 (0) 1481 727111. Telephone calls may be recorded.
About Sally Tennant
Sally joins Kleinwort Benson from Lombard Odier, where she has been Chief Executive of UK operations since 2007. Before joining Lombard Odier, Sally spent four years as Chief Executive of Schroders Private Banking. She spent nearly 10 years at Gartmore plc, most latterly as a Board Director and Head of its Institutional Division, before becoming a Founding Partner at Beaumont Capital Management. Her early career was spent at Morgan Grenfell Asset Management and at SG Warburg & Co, where she was its first female graduate trainee.
Sally has a degree in Politics from the University of Durham. She is married with 2 children.