Azura, an independent private wealth advisory and investment firm, launched today in Monaco with a promise to distrupt "an industry which is failing to meet the needs of an elite, global class of investor."
From its base in Monaco, Azura is targeting the higher eschelons of the market, and says it seeks to disrupt the established global private banking and ultra high net worth (UHNW) advisory market.
Azura has been founded by a partnership led by Ali Jamal, a 37-year-old former Kuwaiti army officer, was most recently head of key client emerging markets at Julius Baer.
We are disrupting an industry which is failing to meet the needs of an elite, global class of investor"
The firm, which has $2bn of assets upon launching, combines asset management and deal advisory capabilities with what it describes as a "top-tier multi-family office service" to bring a "unique proposition" to its clients.
Underpinned by an independent, "open architecture" platform, Azura will provide trusted advice across all major asset classes and access to best-in-class investment products from the world's leading financial institutions.
The firm has put in place a partnership model which it says is an effort to attract the industry's finest talent from around the world to Azura.
Azura will offer a global service to clients from its offices in Mayfair and Monaco, as International Investment reported last week. The firm plans to increase assets under management to $5bn by 2022 and expand its presence from its current offices into Asia in the near future.
Commenting on the launch, Ali Jamal, founder and chairman of Azura said: "I am delighted to officially launch Azura today. We are disrupting an industry which is failing to meet the needs of an elite, global class of investor. At the core of our philosophy is collaboration - a focus on uniting likeminded, entrepreneurial investors and building long-term, meaningful relationships. This enables Azura to originate cross-client deals across the globe and execute them at the highest level.
"It is this ethos, in concert with our ‘winning culture', that will allow us to truly share in our client's vision and confidently deliver on their financial ambitions.
"With the interest we have already had from clients and prospects, we are confident that Azura will go on to be the partner of choice for global ultra-high net worth individuals."
Monaco head-quartered Azura intends to have seven employees in London and Monaco this year.