Stonehage Group, a multi-family office to international ultra high net worth families, has strengthened its international presence through the buyout of its joint venture partner, Philadelphia-based Terra Nova Services, in the US.

Stonehage Group, the global multi-family office to international ultra high net worth families, has strengthened its US presence through the buyout of its joint venture partner, Philadelphia-based Terra Nova Services.

The full integration of Terra Nova into Stonehage will enable the firm to deliver family office services to American and international clients from the US.

Terra Nova was initially a legal, tax and trust business to US ultra-wealthy clients and now also provides: legal and tax advice on cross-border estate planning for families and investors with US connections; 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 Peter Rosenberg, president of Terra Nova, with an existing team of attorneys, public accountants and administrative staff. It will serve existing clients across the US, along with Stonehage’s international clients with US operations. 

“Terra Nova was established as a means of servicing our international clients in the US and we’ve had growing demand for our family office services in the US since its inception in 2007. As our clients become increasingly global, it is vital we continue to establish ourselves in their key markets,” said Giuseppe Ciucci, chief executive and managing partner of the Stonehage Group.