Blue Ocean Global Technology Interviews Stephan Gerwert | Head of Family Office Services at PwC Germany

Stephan Gerwert is best described as an “expert generalist” on various topics in the family office and private wealth spectrum, from investments and governance to strategy and leadership. He started his career at UBS Germany in the Wealth Management department, before moving on to lead a single family office in Switzerland. His entrepreneurial spirit led him to a Swiss fintech afterwards and eventually to founding his own startup in Berlin, a marketplace for real estate and direct investment, exclusively for UHNWI and family offices. Currently, Stephan is the head of family office services at PwC Germany.

Blue Ocean: Tell us about your professional journey. What inspired you to work with ultra-high-net-worth families and family offices, and what continues to fuel your passion for the profession today?

Stephan Gerwert: My fascination with wealth and capital markets began during the dot-com boom, when I first started following the stock market. After completing a degree in business administration, I joined UBS as a trainee in the Wealth Management division, advising ultra-high-net-worth individuals (UHNWIs). Since then, I have spent the past 18 years working with this clientele.

Over time, my interest expanded beyond investments to the broader dimensions of wealth, family, and family business dynamics. Today, I find it deeply rewarding to work at the intersection of these areas, helping families navigate not only financial but also governance, succession, and strategic questions. What keeps me motivated is the sheer breadth of topics relevant to UHNWIs—no two families are alike, and every engagement requires a tailored, holistic approach.

Blue Ocean: What does a typical day look like for you as Head of Family Office Services at PwC Germany?

Stephan Gerwert: My role is a balance of two dimensions. On the one hand, I focus on business development and positioning PwC as the trusted advisor for UHNWIs and family offices in Germany. That includes publishing a newsletter, organizing events, and traveling extensively to meet families, their advisors, and other stakeholders in the ecosystem.

On the other hand, I work directly with families as a strategic advisor. This may involve developing family office strategies, reviewing existing structures, vetting external partners, designing risk management frameworks, or implementing wealth reporting systems. In addition, I serve as an entry point into PwC’s multidisciplinary world—whether families need advice on tax, legal, cyber, ESG, M&A, or audit, we bring the right experts together.

Blue Ocean: Which emerging trends in the family office or wealth advisory space most excite you?

Stephan Gerwert: One of the most exciting developments is the increasing professionalization of family offices and the growing demand for holistic advice. Families are recognizing that wealth, family, and business issues are deeply interconnected, and that successful outcomes require an integrated perspective. Also AI will have profound effects on the space as well, especially when it comes to due diligence, oversight, risk management and other maybe more mundane tasks.

Blue Ocean: Can you share an example of a particularly complex project you’ve worked on, and explain your strategy for resolving it?

Stephan Gerwert: One of the most challenging experiences (guess you can call it a project) of my career was starting my own company without any prior entrepreneurial experience. I equipped myself with online courses and revisited what I had learned in my studies, then simply jumped in. The first years were a steep learning curve—requiring resilience, adaptability, and constant self-education. After three years, it became clear that a strategic pivot was necessary, but my co-founder and I had different visions, which ultimately led us to part ways.

Looking back, there was no perfectly designed strategy. What mattered most was a willingness to learn, persistence in the face of challenges, and perhaps a touch of naïveté—because if you knew in advance how hard it would be, you might never start.

Blue Ocean: You’ve earned a strong reputation in this field. How do you and your team stay ahead in such a dynamic and multifaceted industry?

Stephan Gerwert:  We stay ahead by leveraging PwC’s global network and multidisciplinary expertise. Family office services touch on nearly every aspect of wealth, business, and governance, so being able to connect clients with the right specialists—whether in tax, law, technology, ESG, or deals—is a powerful differentiator.

At the same time, we invest heavily in technology and data-driven tools that enhance transparency and decision-making for families. By combining global reach, local insight, and cutting-edge solutions, we ensure our clients benefit from both breadth and depth of expertise.

Blue Ocean: What core values or principles do you believe every trusted advisor in the family office space should uphold?

Stephan Gerwert: For me, it all comes down to one word: integrity. Integrity encompasses honesty, reliability, professionalism, respect, and sincerity. Ultimately, these values build the one thing that matters most in our profession: trust. Without trust, nothing else works.

Blue Ocean: What are some common misconceptions people have about family offices or the needs of ultra-high-net-worth families?

Stephan Gerwert: The common stereotypes are that wealthy families are greedy, spend lavishly on luxury and concierge services, or feel superior to others. While such images are sometimes reinforced by media portrayals or a few high-profile individuals, they do not reflect the reality I see in my work.

In Germany especially, many UHNWIs come from entrepreneurial families and hold strong values. They are often grounded, disciplined, and focused on preserving and growing wealth responsibly for future generations. In many ways, they are far more “normal” and relatable than one might expect.

Blue Ocean: What do you think sets your approach apart when guiding families through strategic asset allocation or wealth structuring?

Stephan Gerwert: As PwC Germany, we do not provide direct investment advice. However, when families ask us for support in this area, we facilitate a comparative process: we approach multiple wealth managers with the family’s parameters and consolidate their perspectives. This allows clients to benchmark approaches, identify trends, and gain a much broader view than they would by speaking with a single institution. Families appreciate this transparency and independence—it empowers them to make more informed choices.

Blue Ocean: How do you personally stay grounded and focused when managing sensitive or high-stakes decisions with clients?

Stephan Gerwert: When dealing with sensitive or high-stakes matters, I rely on structured processes, clear communication, and the collective expertise of PwC. We place a strong emphasis on thorough preparation, risk assessment, and scenario analysis to ensure decisions are well-informed.

Equally important is adhering to professional principles: integrity, objectivity, and confidentiality. By keeping these values front and center, I am able to approach even the most complex issues with clarity and balance, always with the clients’ long-term interests in mind.

Blue Ocean: What advice would you offer to young professionals looking to build a career in family office services or wealth advisory?

Stephan Gerwert: Start by gaining broad client exposure in banking or wealth management, which provides a strong foundation in understanding UHNWIs and their needs. Over time, develop an area of deep expertise—whether in tax, legal, ESG, governance, or a specific asset class—and pursue the relevant professional qualifications (CFA, CFP, CAIA, CPA, etc.). For those aiming at leadership roles, an MBA can also be valuable.

Equally important is building and maintaining a strong professional network. The family office world is smaller than it seems, and relationships are long-lasting. Never burn bridges—you will cross paths with the same people again and again.

Blue Ocean: What hobbies or interests do you enjoy outside of work?

Stephan Gerwert: I enjoy staying active—running in the summer, snowboarding in the winter—and traveling whenever possible. Fitness and outdoor activities are a great way to recharge and maintain balance.

Blue Ocean: Is there a guiding principle, philosophy, or quote that has significantly influenced your career and life?

Stephan Gerwert: I don’t have a specific guiding quote. Instead, I try to focus on consistently upholding integrity and professionalism, which I believe are the foundation for building trust and long-term relationships in both business and life.

Conclusion

Stephan Gerwert’s career reflects a rare blend of expertise, integrity, and adaptability within the family office and private wealth sector. From his early beginnings at UBS to leading entrepreneurial ventures and now heading PwC Germany’s family office services, he has built a reputation as a trusted advisor to ultra-high-net-worth families. His holistic approach—bridging investments, governance, strategy, and family dynamics—sets him apart in an increasingly complex industry. Guided by integrity and a commitment to trust, Gerwert continues to help families navigate sensitive financial and personal decisions with clarity, professionalism, and long-term vision.