Salamanca Group, the London-based merchant banking and operational risk management business which has expanded with a takeover recently, has opened a South African office in Cape Town.

Salamanca Group, the London-based merchant banking and operational risk management business which has expanded with a takeover recently, has opened a South African office in Cape Town.

Located in Convention Towers in Foreshore, the office provides Salamanca Group with a South African hub from which to advise clients operating and investing across Southern Africa and beyond, it said in a statement.

Some members of the London team will be seconded to Cape Town and joined by the local trust and fiduciary team from the group’s recent Investec Trust Services acquisition. (For more on that Investec Trust Services story, see here.)

The new office will be led by Simon Turner, who has been with the business since foundation in 2002. His role as strategic director at Salamanca group has involved working with blue chip companies across Africa and the US.

“Salamanca Group has historically always had presence in Southern Africa and the acquisition of the trust services business has led to a natural evolution of our offering in the region. We have experienced increased demand for our services as companies and high net worth individuals from around the globe look for ways to invest and operate in Africa and its frontier markets,” said Martin Bellamy, the CEO of Salamanca Group.

The South African office is the third new office opening for Salamanca Group in six months, following on from openings in Rio de Janiero, Brazil and Houston, US.