DeVere to open ‘first-ever’ Austrian outpost

The deVere Group next month is to open its first-ever office in Vienna, the capital city of Austria, in what the company said represents the latest step in its previously-announced European expansion strategy.

The office, located in Fleishmarkt, in the city’s historic centre, a few blocks from the Danube, will be headed up by David Mihelic, an experienced deVere consultant. He will be assisted by James Stratford, also an experienced deVere Group staffer, and they both will report to Colin Eldridge, head of deVere Italia, deVere said.

Eldridge said the move into Austria was “the next obvious step” for deVere after it had successfully established itself in Italy over the past six years, and given the “huge potential for growth” the company sees in the Austrian market – which he noted is an important financial centre, as well as being home to a large number of international companies.

Eldridge said deVere would be looking to take on 10 consultants, along with support staff, within the next 12 to 18 months, to meet “the expected demand” for financial advice in the market.  Some of these are expected to come from within the deVere organisation, but the company will also be “interviewing external talent”, Eldridge said.

Today’s announcement by deVere of its plans to open a Vienna outpost comes a little less than three months after it announced a new strategy of focusing on the European market specifically, and two weeks since it said it had reopened its Madrid office.

James Green, deVere Group founder Nigel Green’s son, has been named to oversee the European expansion, as regional head.

Paul Dodds, deVere’s senior area manager for the region, said “more announcements” would follow imminently as deVere continues to implement its “strategic plans for the continent”.

ABOUT THE AUTHOR
Helen Burggraf
Helen Burggraf is the editor of International Investment. A US-trained journalist, she has worked in Rome, New York City and London, covering everything from the fashion and retailing industries to the global drinking water and water-treatment sector, private equity, and most recently, the international cross-border financial services/advice industry.

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