Duff & Phelps, the international provider of governance, risk and transparency solutions, today announced that it has opened a new operation in Gibraltar, offering blended, multi-service line capabilities to the market.
The new office is located at Montarik House on Bedlam Court.
The Gibraltar office will be headed by Andrew Stoneman, managing director, Duff & Phelps, who has over 30 years of experience advising people and businesses in financial trouble and is well-known for the quality of his work in the financial services sector.
This announcement brings with it a commitment to building a sustained locally-based operation, backed up by a truly global network."
He holds Licensed Gibraltar Insolvency Practitioner status, issued by the Gibraltar Financial Services Commission (GFSC).
Stoneman's experience includes handling complex, multi-jurisdictional restructuring and insolvency cases in the insurance, fintech and gaming sectors, as well as considerable experience working in compliance and capital raising engagements.
Stoneman said: "I am delighted that we have been able to expand our services into Gibraltar enabling us to offer a blended range of services from across the Duff & Phelps portfolio."
"Not only is there an opportunity for a new restructuring practice in Gibraltar, but the regulatory nature of many business sectors based on ‘the Rock' - such as insurance, gaming and financial services - means that we will be able to offer a wide range of additional services centred on a broad range of solutions including compliance and regulatory consulting. It is our intention to offer these services via a local multi-skilled team, backed up by the extended Duff & Phelps organisation."
In addition to Duff & Phelps' expertise in local insolvency services, Gibraltar clients will also benefit from the firm's global capabilities, including international restructuring, compliance and regulatory consulting, valuations, corporate finance and forensics and disputes, as well as Kroll's Business Intelligence and Investigations and Cyber Risk teams.
The Gibraltar office is among 14 global locations from which Duff & Phelps offers restructuring services, and the fifth country in Europe. The firm's global restructuring group now totals more than 400 professionals.
Albert Isola MP, Gibraltar Minister with responsibility for Digital and Financial Services, added: "We are delighted to welcome Duff & Phelps to Gibraltar, particularly in light of the special and historic relationship between the UK and the Rock. This announcement brings with it a commitment to building a sustained locally-based operation, backed up by a truly global network."