Davos Financial Group has launched a New York-based advisory subsidiary, Davos Financial Advisors NY, offering services such as asset management, tax planning and accounting.

Davos FG opened in the US around 17 years ago in Florida, with the aim of serving a niche market in Latin America. It has bases in Miami, Panama and Geneva and partner firms in Portugal, Mexico and Brazil. It has built up around 300 clients and is positioning its NY subsidiary as a multi-family office.

The financial advisory arm will develop investment strategies and has a network of strategic partnerships with 15 international banks.

"We hope that with the New York office, we can open ourselves towards new clients from other latitudes and grow in a significant percentage for the next two years," said David Osio, chief executive.