Paul Dodds, a senior managing partner with deVere, will divide his time between his current base in Switzerland and the new office in Milan, where he will work alongside Colin Eldridge, the new Milan team leader, who will have responsibility for the day-to-day operations of the office, deVere said.
The office is located on via Santa Maria Valle in the centro storico, roughly between the Università Cattolica del Sacro Cuore and the Palazzo Reale.
The new office brings to more than 60 the number that deVere operates globally. The company has said it aims to have as many as 100 offices operating by 2017.
deVere Group director Mike Coady said that the Milan office represented a “key part of our strategic plan to expand our presence”, and that it had been driven by demand from Italy-based international investors and expatriates. Milan is the home of Italy’s stock exchange and its fashion industry, as well as a centre for manufacturing and design.
Based in Zurich, with a key management and operations hub in Malta, deVere is privately-held, and claims to be the largest financial advisory firm worldwide based on the number of offices it operates. It has assets under administration and management of more than $8bn, according to its website.
