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Blacktower Group Expands In The Cayman Islands
Eliane Chavagnon
2 December 2013
UK- and Gibraltar-based , which provides independent
wealth management advice and services for individual and corporate clients, will unveil an office in the Cayman Islands before
year-end. The firm confirmed to Family Wealth Report that it has obtained
a securities and investment business licence from the Cayman Islands Monetary
Authority, which will enable it to also give advice in a “more conventional wealth management
capacity.” The new office, located in George Town
on Grand Cayman, is being structured as a
separate company within the Blacktower Group. The firm expects to have around six employees there by the end of 2014. It will serve expatriates of all nationalities
in the Cayman Islands, including US
individuals. These will fall into two groups: working expatriates who need help
with their retirement planning and high net worth individuals interested in
wealth preservation and investment planning. Meanwhile, the firm also said it has received branch
licensing approval in Malta
and Germany, having entered the German market and certain others through a merger with WorldWide
Broker Netherlands, which will rebrand as Blacktower next year. Blacktower currently has offices in the UK; Spain; Malta; Germany; Portugal; France; Gibraltar; and Italy.