DeVere Group has announced that it is to reopen offices in Mallorca, under the deVere Spain brand.
The international advisory giant said in a statement that it is to launch a new office "imminently" in the exclusive Portals Nous area, pictured above, a stone's throw from one of the Spanish island's most popular marinas for expats.
The office will be headed by team leader, Michael Jacobs, who will report directly to deVere Spain's senior area manager, Andrew Oliver. Jacobs is relocating to Mallorca from Milan, where he spent 10 months with deVere Italia as senior wealth manager.
"With already high demand and with it being on an upward trajectory, we will be looking to recruit some talented financial advisers, to join the team here in Mallorca," Michael Jacobs, deVere Spain
A deVere spokesman said: "DeVere previously withdrew from the Mallorca market several years ago due to recruitment issues, which have now been overcome. Indeed, it is already proving to be a popular destination for talented financial advisers seeking to work with high net worth clients."
Of the new relaunch, Oliver said: "Much of his (Jacobs) focus will be on the vibrant yachting community in and around Portals Nous and Palma.
"Together with him being a talented wealth adviser and senior-level business manager, Michael has an intimate personal and professional knowledge of this market, being an expat himself for many years and having lived around some of the world's best-known ports and marinas."
Jacobs added: "On a personal level, it's fantastic to be on this perennially popular island that I'm passionate about and working with those in Mallorca's booming yachting sector. With already high demand and with it being on an upward trajectory, we will be looking to recruit some talented financial advisers, and ambitious graduates who are looking to start a rewarding career, to join the team here in Mallorca."
Puerto Portals, pictured above, is a private marina situated three nautical miles east of the Port of Palma, with 640 berths, and home to a number of yachts and superyachts and is an alternative to Palma for keeping yachts in Mallorca. Over the years, the costal hills to the west of the island have seen the appearance of luxury villas, hotels, and resorts, as a popular destination for expats.