Greenwood, which will adopt full Holborn branding, is licensed by the Labuan Financial Services Authority.
The advice and insurance brokerage firm provides services to high net worth private clients and corporations in Malaysia. It was originally a franchise of UK-headquartered Alexander Beard Group but underwent a management buyout in 2009.
Financial details of the deal were not disclosed.
The acquisition follows swiftly on the heels of confirmation that Holborn’s UK arm has been granted permission to resume operations and advise on defined benefit (DB) pension transfers, after the regulator stepped in earlier this year.
Eye on Malaysia for a while
Matthew Green, director of Greenwood, will continue in his role at Holborn’s Malaysia office.
He said the company is “looking forward to developing the business in the region by embracing the operations and opportunities that being part of a large, multinational organisation has to offer our staff and especially our clients”.
In addition to its head office in the UAE and an office in the UK, Holborn also has an operation in South Africa.
Robert Parker, chief executive of Holborn Assets, said: “The rapid growth of the financial sector in Malaysia is something we’ve had our eye on for some time. Holborn Assets is delighted to be partnering with extremely experienced, knowledgeable advisers who have worked for over a decade on the ground in south-east Asia.
“Gaining a further foothold here is another great step in Holborn Assets’ core growth strategy for this year.”
Plans for growth
The existing team of 25 will move into new offices in December and be joined by a further 15 consultants by the end of 1Q18.
Additional hires are expected throughout 2018.
On his LinkedIn page, Green wrote: “Lots of work to do over the coming weeks and months but exciting times ahead.”