DeVere group, a Dubai-based investment advisory firm, has acquired St Lucia-based private bank, Arton.
"We were able to acquire the St Lucia banking licence of Arton Bank and this, in turn, now enables us to offer a range of international private banking services directly to our global client base who seek an efficient, internationally focused service," Nigel Green, the chief executive of deVere has told the UAE paper The National.
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More details follows:
deVere Group, one of the world’s largest independent financial advisory organisations, has today launched its latest project: its own private bank.
deVere Group Bank St Lucia is understood to be the first private bank to be owned by an independently-owned financial advisory firm. It has been facilitated by the acquisition of Arton Bank.
The founder and CEO of deVere Group, Nigel Green, comments: “Thanks to the hard work, commitment and expertise of our teams across the globe, we have been able to dominate the international advisory sector over the last 14 years".
“Whilst we will continue to implement ambitious expansion plans for our financial advisory business and lead from the front in this arena, it is extremely exciting to also be entering the banking sector".
“deVere Group Bank St Lucia will allow us to further broaden our offering as a company. We are now able to directly provide private international banking services for our clients and corporate banking solutions to small businesses".
“The Bank is set to become an integral part of our business and it will share deVere’s client-first culture".
He continues: “The move into the private banking sector has been largely driven by demand from clients who are increasingly seeking asset and capital protection and growth, combined with confidentiality".
“deVere Group Bank St Lucia enables us to move beyond traditional banking activities and meet the requirements of clients in an ever more globalised, yet insecure, world".
Mr Green goes on to say: “The convenience offered by our private bank will be a key advantage for our clients who are, typically, expats and international investors".
“With accounts offering centralised, secure, flexible and international access to funds, they are, naturally, a good option for those who live more internationally-mobile and transient lives".
Nigel Green concludes: “The launch of deVere Group Bank St Lucia marks a major milestone for deVere. This latest project underscores deVere’s commitment to continually evolve and develop in what are undoubtedly challenging times. It also further demonstrates our status as a leader in the global financial community". (c) company press release Jan 2017
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