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.
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.