Dubai-headquartered advisory firm Holborn Assets has opened its second office in Cyprus which will become the group’s “global administrative, compliance, marketing, IT and client relations centre”.
The establishment of offices in Limassol coincides with Holborn’s acquisition of a Cyprus Investment Firm (CIF) licence.
The firm said it is now “fully Mifid-compliant”, which means it will be “able to operate and serve clients across Europe while broadening access to European opportunity”.
Holborn’s Limassol office has a team of 49; 20 of whom are fully qualified financial advisers.
The advice company opened its first Cyprus office in Paphos in 2018.
Partnership
The firm also added that the team in Cyprus had “reached terms with Lombard International Assurance’s European operation” but Holborn had not stated the details of the deal.
International Adviser has contacted Holborn Assets and Lombard International for details of the terms agreed, but neither firm responded in time for publication.
Robert Parker, chief executive of Holborn Assets, said: “This new office will deepen our ability to operate and expand across the European region while increasing the depth and range of advice that we provide clients.”
Holborn Assets already assists UK expats with managing their finances while “preparing for a range of possible outcomes in different areas of their financial life following Brexit and in line with evolving European regulation”, Parker added.
The company’s CIF licence and Mifid capability now “also equip us to offer the cross-border investment services so critical to expatriates”, he said.
