One of the world’s largest financial advice firms for expats is launching an investment bank to team with a new private bank recently opened for clients.
deVere Group has nearly 90,000 expat customers across more than 100 countries and looks after $10 billion of investments.
CEO Nigel Green has announced the firm now has an investment banking licence on the Indian Ocean island of Mauritius, where the bank is set to open to customers within a few weeks.
Only six weeks ago, deVere also started opening accounts for private banking customers at deVere Group Bank St Lucia, in the Caribbean.
Market leader for advising expats
“We’re thrilled to confirm that deVere now has its own investment banking licence,” he said.
“Following an exhaustive fact-finding mission to find the most suitable jurisdiction for us to enter the investment banking sector, Mauritius was at the top of our wish list. Mauritius has a robust international reputation, which is based on good governance, pro-business policies, legal expertise and an educated, English and French-speaking population.”
Mauritius has a thriving banking sector, with 22 banks – with 17 foreign institutions.
Green believes his company is well-placed to deliver investments as a market leader in offering expat services for more than 14 years.
“This investment banking licence will, of course, allow us to further meet these evolving needs and wants by enabling us to develop and provide new, specialist and innovative financial products and services to help our clients achieve their long-term financial goals,” he said.
Laser focus on customer service
“Like our recently announced private bank, deVere Investments will become an integral part of our global business and will, naturally, have a laser-like focus on delivering an unrivalled, results-driven service for our clients.”
“Receiving our investment banking licence is another landmark moment in deVere’s ongoing success story. Many would be satisfied with the world-class international advisory organisation and the private bank, but at deVere we constantly seek to develop and grow our business in line with client demand.
“When we launched the private bank in January I said that it ‘further demonstrates our status as a leader in the global financial community.’ The investment banking licence, I believe, cements it.”