CFO steps up to CEO at Kleinwort Benson

KLEINWORT BENSON’S parent company RHJI has promoted its chief financial officer to chief executive of the bank.

Martha Boeckenfeld, who is currently CFO of Kleinwort Benson’s holding company RHJI, will become CEO of its bank, Kleinwort Benson. She will take on the role in addition to her current CFO position – subject to regulatory approval, a company statement said.

Boeckenfeld will succeed Kleinwort Benson CEO Sally Tennant who stepped down earlier this week. Tennant will continue as a senior adviser to the private banking and wealth management business Kleinwort Benson.

In her new role, Boeckenfeld will continue to oversee the integration of the group’s acquisition of German wealth management business BHF-Bank, which CityAM reports was acquired from Deutsche Bank for €384m (£318.6m) earlier this year.

Boeckenfeld joined RHJI in 2007 as managing director from international insurance business Winterthur Group, where she was worked in a variety of roles including, regional CFO of Asia Pacific, as well as head of integration when the business was sold.

During her tenure as MD at RHJI, Boeckenfeld worked on the acquisition of Kleinwort Benson before becoming CFO in 2010.

A statement from RHJI said: “Martha Boeckenfeld, chief financial officer, has been appointed chief executive officer of Kleinwort Benson Bank, with immediate effect (subject to regulatory approval). She takes over from Sally Tennant whom we are delighted will be taking on a new role with the bank as senior adviser.

“We thank Sally for her contribution as CEO. She has developed the business and enhanced our client proposition, including a range of senior hires.”