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DeVere receives investment banking licence

DeVere receives investment banking licence

International adviser DeVere Group has received an investment banking licence from the Financial Services Commission of Mauritius.

The company’s investment bank expected to be fully operational “within a matter of weeks”.

It comes six weeks after DeVere launched its own private bank, DeVere Group Bank St Lucia, the first private bank to be owned by an independently-owned financial advice firm.

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DeVere Group’s founder and chief executive Nigel Green said: “Following an exhaustive fact-finding mission to find the most suitable jurisdiction for us to enter into the investment banking sector, we had Mauritius at the top of our wish list.

“Mauritius has a robust international reputation, which is based on good governance, pro-business policies, legal expertise and an educated, English and French-speaking population.”

DeVere Group has a network of more than 70 offices across the world, over 80,000 clients and $12bn (£9.7bn) under advise.

damian.fantato@ft.com