“The move is the result of a strategic review. It will enable us to further enhance our position as the market leading advisory firm for internationals and expats in the Middle East, meet evolving regulatory requirements, and help raise standards throughout the region,” said David Hughes, deVere Group’s regional director for the Gulf.
DeVere previously operated in Dubai and across the UAE under the PIC brand before it bought Dubai-based wealth manager Acuma in 2013.
Hughes said existing PIC clients will continue to be serviced by their financial consultants in the same way as always. However, they will now be under the deVere Acuma umbrella, part of the deVere Group, which has more than $10bn (£7.6bn, €9.1bn) under advice from 80,000 clients in 100 countries.”
“We’re confident that this streamlining process will empower us to exceed client service levels, best business practice policies, corporate governance and operational excellence,” said Hughes.
“We are aiming to take the necessary steps to double our Gulf presence within four years,” he added.
The group currently has two hub offices Dubai, one in Abu Dhabi and one in Al Ain.