Oracle Capital Group has set up a strategic alliance with Third Rome Group - the Russia/CIS-focused wealth manager - to expand its presence and reach within Russian markets.

Oracle Capital Group, the Luxembourg-headquartered multi-family office and wealth consultancy, has set up a strategic alliance with Third Rome Group - the Russia/CIS-focused wealth manager - to expand its presence within the Russian investment services and wealth management markets.

Under the agreement, Oracle Capital Group has acquired, for an undisclosed sum, a blocking stake in the Third Rome Group holding company. The agreement will enable Oracle Capital Group to expand its service offering and increase its exposure within the Russian wealth markets. Third Rome Group will continue to operate under the Third Rome Group name, according to a statement by Oracle.

As part of the transaction, Martin Graham chairman of Oracle Capital Group will join the board of directors at Third Rome Group as group co-chairman with Andrei Movchan also sharing the role as co-chairman. Danilo Lacmanovic, former president of Third Rome Group, is appointed chief executive.

Founded by Movchan in 2009, Third Rome Group provides a range of services including asset management, investment consulting, trading, corporate finance, asset and deal structuring services. Prior to establishing Third Rome, Movchan was chairman of Renaissance Investment Management and CEO of Renaissance Bank. Before that, he served as executive director at Troika Dialog for six years.

Oracle Capital Group has offices in London, Luxembourg, Geneva, Nassau, Moscow, Almaty and Limassol and employs over 100 staff worldwide.

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