Dubai-headquartered financial advisory group Holborn Assets has announced the opening of its latest international office in Cyprus, with a team of 15 professionals, including 10 wealth managers, International Investment can reveal.
The ribbon-cutting ceremony was held in the British stronghold of Paphos. Initially the Cyprus team will consist of 15 people, 10 of whom are wealth managers, with plans to expand that number to 20.
The family-run wealth management firm – that now has over 450 employees worldwide, including 160 financial advisers – said that the office in Cyprus is part of its three-year strategic plan to “target major international growth” and follows the acquisition of Globaleye Hong Kong earlier this year and the opening of new offices in Malaysia and South Africa.
It is the company’s first foray into the Cyprus marketplace, but one that it expects will be an important base for the company in the coming years, Holborn told International Investment.
International financial services industry veteran Andrew Carter, pictured above, will manage what Holborn calls “a highly experienced team” having been in the financial services industry for 18 Years, four of which have previously been in Cyprus where he is a popular figure.
“I am pleased to be back in Cyprus especially with a company that is highly respected within the financial services industry, said Carter. “We open on day one with a team of 10 advisers who are all qualified to UK standards. It’s great to see the months of hard work finally pay off with the establishment of Holborn’s newest office in Cyprus.”
Simon Parker, COO of Holborn Assets, said: “Cyprus has all the fundamentals we look for in a new market; a strong business environment, solid infrastructure and IT, a robust financial services industry, highly educated workforce and of course very close cultural ties with the UK.
“Most estimates suggest Cyprus is currently home to some 80,000 brits, all of which makes it a natural place for Holborn Assets to locate as we look to increase and improve our service levels to our ever mobile international expatriate client base and at the same time add another home for our consultants who may wish to relocate.”
Robert Parker, pictured left, CEO of Holborn Assets, added: “The ‘at retirement’ market for British expats is set to expand over the next 10 years and Cyprus will continue to be a very attractive destination, many of whom will require quality advice in the areas of tax, estate and retirement planning. We are very excited to be opening this new office and look forward to great things from Andrew and his team”
The opening event was attended by various local business leaders, Hadjihannas Corporate Services, EuroLife, PWC and Rathbones.
Holborn said that each adviser is trained and qualified to United Kingdom standards with many holding qualifications from the UK’s Chartered Insurance Institute (CII) or Chartered Institute of Securities and Investment (CISI).