Fenchurch Advisory Partners is adding two former heads of FIG to its team: Paul Miller as a Senior Managing Director, and Eric Richard as a Vice Chairman focusing on Europe.
Paul joins from Morgan Stanley, where he was Head of UK & Ireland Financial Institutions. Before that he was on the Executive Committee at Legal & General Group plc and a Managing Director at Goldman Sachs.
Eric joins from Royal Bank of Canada (RBC) where he was Vice Chairman of the European Financial Institutions Group. Prior to that, Eric was Head of the EMEA Financial Institutions Group at Credit Suisse and previously at JP Morgan.
They join a team of 60 investment banking professionals at Fenchurch, the specialist corporate finance advisory firm to financial institutions. Fenchurch acts for leading corporate and financial sponsor clients as a trusted adviser on M&A, Equity and shareholder activism.
In the last 12 months Fenchurch has advised on over 20 transactions in insurance, banking, and asset & wealth management, including:
- Nucleus on its acquisition of Third Financial
- Ancala on the sale of a stake to Vontobel
- Charlesbank on its acquisition of Perspective Financial
- Post Office renegotiating its financial services partnership with Bank of Ireland
- R&Q Insurance on the $465m sale of its program management business, Accredited, to Onex
- SCOR on in relation to the €250m transfer of shares to BNP Paribas Cardif
- Ardonagh on the merger of its UK personal lines business, Atlanta, with Markerstudy, valuing Atlanta at £1.2bn
- AXA on its €650m acquisition of Laya Healthcare from Corebridge, a subsidiary of AIG
- Numis on the £410m recommended cash offer from Deutsche Bank
- Investec on the £839m combination of Investec Wealth & Investment UK and Rathbones
- Ageas on the disposal of its French activities to Carac
Malik Karim, Founder and Chief Executive of Fenchurch, said:
“Fenchurch’s offering combining specialist independent advice with first class execution is compelling to the market. We have known Paul for many years and respect him as a formidable competitor. Eric as well as being a former colleague is highly respected across the market especially in Continental Europe where we have been selectively expanding. “We have ambitious growth plans especially in North America and we expect to accelerate these by taking advantage of this once in a generation opportunity offered by current market dislocation”
Paul Miller added:
“I am looking forward to joining Fenchurch, having known the firm and its senior team for many years. I believe that its model of deep sector expertise and independent advice is ever more attractive to clients. The continuing positive momentum at Fenchurch, achieved against such a difficult market environment, make it the perfect time to join the firm.”
Eric Richard said:
“I am looking forward to extending Fenchurch’s European franchise. The firm is well respected across Europe and I will be connecting my broad set of European clients to Fenchurch’s team of talented bankers.”
