The firm said that move forms part of European Wealth’s commitment to service clients locally, as many the clients acquired from Towry AM are based in Southern Africa.
The new office will be led by Paul Heber, who was previously a director of Savoy Asset Management and an investment manager at Société Générale.
The team also includes former Cazenove partner Tony Lederle, and former executive managing partner of 1st Corporate Advisory Group, Sureshan Moodley.
John Morton, chief executive of European Wealth, said: “Southern Africa is an exciting opportunity for us. It is a region that we know well and many of our team have direct experience of working with clients from this area.
“We have always been committed to servicing our clients locally and with the acquisition of this client bank it was essential that we had highly skilled local expertise available to them.”
