deVere chief Nigel Green has acquired Credence International, a wealth management business headquartered in the UAE, for an undisclosed sum.
The deal offers deVere the ownership of Credence’s Dubai offices, which employ 26 people.
The acquired entity will retain its independent brand identity. It will remain under the leadership of its former CEO Chris Ferguson.
The acquisition excludes Credence’s Australian unit.
Commenting on the purchase, Green said: “I’m thrilled to confirm the acquisition of Credence International, which is known for its robust core value of having a laser-like focus on delivering best outcomes for clients, thereby helping them to reach, and often exceed, their long-term financial goals.
“I am confident that my investment in Credence International will be of great benefit to the company’s clients.
“Together, with the talented, high-quality team at the company, I will be proactive in pursuing material benefits for clients.”
Green also expressed interest to make further acquisitions, as well as roll out subsidiary brands and new products.
de Vere was founded in 2002 by Nigel Green.
Recent acquisitions by deVere
Founded in 2002, deVere currently serves more than 80,000 clients in over 100 countries.
The latest deal strengthens deVere’s presence in the UAE.
As part of the deal, around 50 staff joined deVere.
In another recent development, deVere secured the regulatory nod to acquire WPS Advisory.