Stonehage Fleming has acquired Zurich-based art management and advisory business OmniArte.
The business was bought for an undisclosed sum. It will be absorbed into the Stonhage Fleming art management division, which launched in 2007 and manages art collections worth several billion pounds.
As part of the acquisition, Maria de Peverelli becomes executive chairman of the art management division.
In this newly created role, she will work closely with Georgina Hepburne Scott, head of art management, and will continue to work between London, Italy and Switzerland.
As part of the transaction, Stonehage Fleming will also add two highly experienced art registrars and research professionals to their office in Zurich.
OmniArte was founded in 2005 by de Peverelli and serves a European client base that includes individuals, family offices, foundations and trusts and estates.
Commenting on the transaction, Steve Kettle, partner responsible for art management at Stonehage Fleming said:
'Art is very much part of the Stonehage Fleming DNA and Art Management has been a core part of our multi family office offering since Georgina established the highly successful division in 2007.
'The transaction enhances our cross-border art management capabilities and provides the further expertise necessary to position us as the leader in art management.
de Peverelli said her 'love affair' with Stonehage started when she realised they both shared a passion for art, which she described as different to the current trend whereby art is increasingly viewed as merely an investment asset.
'[Further] we share a common mission to place our clients’ best interests first by focussing on the preservation, protection and valorisation of art whilst also considering the future options available for a collection,' de Peverelli added.