Dolfin, a UK-based investment firm, has received a custody and depositary licence from the Malta Financial Services Authority.
The move will allow the firm to deliver investment services for private and institutional clients from its new office in Valetta.
At the same time, the move will also enable the firm’s UK private clients to custody their assets with the firm in Malta. The Malta business will be headed by Ramon Bondin.
“Malta has a growing financial ecosystem, particularly in the fund space. However, many asset managers wanting to set up here have been underserved in custody and depositary services. The award of our licence will change that,” Bondin noted.
The move will particularly benefit Malta-based collective investment schemes and trusts as well as other wealth structures requiring a local custodian or depositary, Dolphin said.
Dolfin CEO Denis Nagy said: “Malta is an increasingly important hub for financial services, particularly asset management and private wealth. Our Maltese operations can now leverage our infrastructure, trading counterparties worldwide and our network of the best global sub-custodians.
“The extension of our services in Europe, while maintaining proximity to the UK, makes strategic sense for our clients; this is a significant step for Dolfin.”