The deVere Group is planning to open its first office in Nigeria, in the capital city of Lagos, reported International Adviser.

According to the publication, Swiss advisory group also intends to expand its operations in Cape Town, Johannesburg, and Accra; and will relocated to larger premises in Dubai, so that it may increase the number of its consultants there by 50%.

But three peripheral South African offices have been closed, and an earlier plan to open offices across the US has been put on hold.

Instead of a pan-US operation, the company now plans to focus on making its existing New York office a ‘super-hub’ from which to look after its American clients.

DeVere Group founder and chief executive Nigel Green said the strategic review – now in its eighth week – was very much still ‘a work in progress’, with much still remaining to be done before it is complete.

"[Nevertheless], we have already made some decisions regarding expanding our operations in some key growth markets, and streamlining our operations in other regions, in order to further strengthen the deVere Group’s worldwide position as the ‘go-to’ advisory firm for international investors and expatriates," he added.

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DeVere, which is based in Zurich and has key administration offices in Malta and Dubai, has more than 70,000 clients, and funds under management and administration of more than $9 billion.