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The CEO and founder of deVere Group, Nigel Green, announced plans last week to expand Acuma, one of the most successful wealth management firms in the United Arab Emirates, into Hong Kong.

Founded in 1999, Acuma’s headquarters are in Dubai with a satellite office in Abu Dhabi.  It is licensed by both the Central Bank of the United Arab Emirates and the UAE Ministry of Economy.

Nigel acquired Acuma in July this year.  Speaking at the time of the procurement, he commented: “I’m always interested in purchasing dynamic, potential-filled, fully authorised firms.”

The expansion into Hong Kong marks the start of plans to strengthen the firm’s presence throughout the Asia Pacific region, to cater for an increasing demand for world-class wealth management in this part of the world.

Nigel Green said of Acuma’s client-base: “Both existing and potential clients will enjoy market-exclusive products and services from their financial adviser, links to major financial institutions all over the world, standard-setting technologies and world class support teams, al backed by a robust international organisation.”

He added: “Acuma’s expansion will initially focus on the opening of an office in Hong Kong.  However, we have far-reaching strategic plans and, moving forward, Acuma will operate across the Asia Pacific region, where demand for expert, independent financial advice from expatriates and locally-based, globally-focussed investors is soaring.

“Steps are being taken that we hope will enable Acuma to become the largest independent financial advisory firm in the Asia Pacific market within a matter of years.”

The move into Hong Kong was made following Acuma’s recent acquisition of GWM Hong Kong Limited, a fully-licensed advisory firm based there.

 

Leading the Acuma team in Hong Kong

Simon Davies is heading up the Hong Kong operation.  He joined Acuma from Hong-Hong based Richmond Asset Management Limited.  With over thirty years’ top level experience at firms including MBA Berkeley Burke Financial Services Limited (Senior Partner), MBA Portfolio Services Limited (Managing Director), and Scottish Widows (Technical Representative), Simon will be responsible for managing and developing Acuma’s operations in this region.

 

Asian expansion

The Acuma acquisition follows several other key purchases by deVere Group of international advisory organisations in Asia, which I mentioned in one of my earlier blogs.

Nigel Green confirmed earlier this month that he had procured Elite Investment Group based in Shangai, Hong Kong’s Precision Group Asia, as well as Broadgate Investment Advisory Services, based in Thailand, in September.