Provisca brings in big gun as Middle East director

Provisca brings in big gun as Middle East director

Provisca, the international distribution business launched in August, has named Richard Williams as regional director to head its Middle East business.

Williams is well known to international advisers in the Middle East and Africa, having lived and worked in both regions during an 29 year career. He will focus primarily on managing and developing Provisca’s business relationships in the retail and wholesale Middle East market segments.

Williams, who joins Provisca from his previous role as head of distribution for Africa for Isle of Man based Premier Group, will report to Nigel Watson, Provisca’s sales director.

“Richard has over 29 years experience within international and UK financial services, predominantly in senior sales roles within banking, offshore life company and fund management organisations,” said Watson

“Richard’s in-depth experience of working with direct clients, gained initially as a wealth manager and then latterly supporting IFA firms, institutions and family offices, will be an important factor in developing Provisca’s business in the Middle East.”

Growth forecast

Provisca said in a statement released today announcing the appointment that it is forecasting growth across the wider Middle East region across the next few years, particularly for platform business, despite the uncertainties caused by changes being introduced by multiple regulators in individual jurisdictions.

“Ultimately, increasing regulation is a positive factor as it should see clients benefit from transparency and better value for money products,” added Watson. “Our distribution partnership with the Momentum international platform places Provisca in a strong position to help advisers make this transition while also building value in their own businesses.”

Investment platform

Provisca is responsible for marketing and distributing the Momentum Wealth International interactive online investment platform, outside of South Africa.

It announced its partnership with Momentum, as reported, in September and Watson already reports “positive take up” of the platform with advisers in the Middle East, Asia and Africa in the few weeks since launch.

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