British financial advisory firm deVere Group has obtained an investment banking licence from the Financial Services Commission of Mauritius.

The group’s investment bank in the offshore jurisdiction will be known as deVere Investments and is expected to be fully operational in few weeks.

deVere Group founder and CEO Nigel Green said: “Following an exhaustive fact-finding mission to find the most suitable jurisdiction for us to enter into the investment banking sector, we had Mauritius at the top of our wish list.

“Mauritius has a robust international reputation, which is based on good governance, pro-business policies, legal expertise and an educated, English and French-speaking population.”

deVere Investments will become a part of the group’s global business, Green added.

The move comes weeks after deVere Group forayed into the private banking sector by acquiring St Lucia-based Arton Bank.