The jurisdiction has granted an investment banking licence to a firm that set up a private bank only six weeks ago.
The financial regulator in Mauritius has granted deVere Group, the international financial advisory firm, an investment banking licence and this is expected to become operational in a week.
The firm’s investment bank is licensed and regulated by the Financial Services Commission of Mauritius, deVere Group said in a statement yesterday.
The granting of a licence follows the move six weeks ago by deVere to launch its own private bank, deVere Group Bank St Lucia, which it said was the first private bank to be owned by an independently-owned financial advisory firm.
“Following an exhaustive fact-finding mission to find the most
suitable jurisdiction for us to enter into the investment banking
sector, we had Mauritius at the top of our wish list. Mauritius
has a robust international reputation, which is based on good
governance, pro-business policies, legal expertise and an
educated, English and French-speaking population,”
said Nigel Green, group founder and chief executive.