The senior partner of global wealth firm Austen Morris Associates Group (AMA), Greg Morris, has purchased Mauritius-based advisory company Personal Capital Management (PCM) for an undisclosed sum.
AMA International already had a presence on the African island-state, as it holds a global business – investment adviser (unrestricted) licence.
This marks AMA’s third acquisition in two years to expand its global footprint.
PCM was incorporated in 2015 and is regulated by the Mauritius Financial Services Commission. Its staff follow a similar model to the UK’s independent financial advisory system, the company says on its website.
The firm’s managing director and owner Mark Blencowe will retire following the M&A deal and move back to the UK.
Blencowe said: “In handing over the reins of PCM to AMA, I am confident that I have made the right decision, both for myself and for our clients. They are the perfect institution to take over, and I have no doubt that each client will benefit enormously from their professionalism and global expertise.”
AMA was set up by Morris and Austen Hempstead in Dubai in 1994, and has served over 7,500 clients across 90 countries in Africa, Asia, North America and Europe.
