Brexit fuels deVere expansion into Germany with new Munich offices

Brexit fuels deVere expansion into Germany with new Munich offices

DeVere Group has opened up a new European outpost with the addition of offices in the centre of Munich, with ten new adviser positions and additional support staff being sought.

As part of an expansion of its operations across Europe deVere Group said that it had has now added its deVere Germany brand into the Bavarian capital, partially thanks to increased demand for cross-border advice following Brexit.

The new offices are located near Marienplatz, the city’s most iconic square. The Munich operation will be headed by Area Manager Glen Crosfill, pictured left, who has moved from Dubai, where he held a similar role within the organisation for seven years.

Crosfill will report directly to Nicholas Grams, deVere Germany’s Country Manager.

He said that the company has taken the decision to open in Munich due to “an ongoing increase in demand from clients”.

“Previously, we had been serving existing Munich-based clients from our hub in Frankfurt,” he said. However, with demand rising consistently over the last 18 months – something we predict to gain momentum further – it makes sense to open offices within the city itself.”

Brexit demand

DeVere Group said that much of the recent surge in demand is down to Brexit with more and more expats, high net worth international investors, and German nationals who’ve been living overseas, relocating to Munich.

“Many of them [are] telling us this in in direct response to the UK’s decision to leave the EU,” added Crosfill.

“Many of these individuals are specifically seeking advice on certain specialist financial products, such as recognised overseas pension transfers, ahead of the official Brexit deadline of 29 March next year.”

Recruitment drive

DeVere Group added that it will be looking to recruit “additional talented wealth advisers plus career-minded support staff” in the coming months to join its existing team.

“We intend to have 10 financial consultants in place by the end of the third quarter, who will be assisted by their coordinators and administrative staff,” Crosfill added.

James Green, pictured left, who is the divisional manager for deVere Group in Western Europe, said: “This expansion in Germany is part of our ambitious strategic plans for Western Europe.

“There’s been a growing number of individuals and organisations seeking alternatives since Brexit.

“They are coming to us for our specialist independent advice as they value the access to a high-quality and effective suite of products and services, an exclusive selection of alliances with major international financial institutions, standard-setting technologies and first-class support teams.”

As reported, the announcement of deVere’s launch in Munich follows the firm opening in Madrid in May last year, the Austrian capital in August, and in Portugal’s Algarve in October.