DeVere Group is to launch a new Mauritius-based investment banking operation to sit alongside its financial adviser business and recently rolled out private bank.
DeVere said earlier today that it has received an investment banking licence from the Financial Services Commission of Mauritius. As a result, it is expected that the company will have the new deVere Investment Bank regulated and fully operational “within a matter of weeks”.
The investment banking licence comes, as reported, just six weeks after deVere launched its own private bank – deVere Group Bank St Lucia – which it claims is the first private bank to be owned by an independently-owned financial advisory firm.
DeVere Group’s founder and CEO, Nigel Green, pictured left, called the announcement “a landmark moment” for the company.
He said: “Following an exhaustive fact-finding mission to find the most suitable jurisdiction for us to enter into the investment banking sector, we had Mauritius 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. Like our recently announced private bank, deVere Investments will become an integral part of our global business.”