The deVere Group, the global independent financial advisory business, intends to open a regional office in the Cayman Islands, the first foray by the firm into the Caribbean, this publication can confirm.

The office is expected to open in the third quarter of this year.

Earlier this year, the deVere Group as a whole, which has more than 60,000 clients and $8 billion under management, announced that it is to launch a further 12 offices globally this year and has plans to have 100 worldwide within the next five years.

The firm recently established an office in New York City and appointed Adrian Flambard to manage it. Flambard recently joined the firm from Kleinwort Benson in Guernsey. He specializes in the expatriate market – the firm’s main focus.