The Central Bank of Ireland (CBI) has granted financial services company GSB permission to establish an office in Ireland and begin providing services to customers throughout Europe.

GSB Capital Ireland will provide a variety of advisory services pertaining to investments, insurance, and pensions after approval.

Additionally, GSB now has the ability to passport around the EU due to the license.

The arm will be led by Michael Cunningham, chief executive. Cunningham began working for GSB in 2021.

He formerly served as Acuma’s executive wealth director in the UAE and Clarity Partnership’s private client director.

Furthermore, he will operate out of the company’s Dublin headquarters.

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Cunningham commented: “We are delighted to announce the approval of a financial services licence from the Central Bank of Ireland. The licence will give the business an opportunity to expand the GSB brand across Europe and offer European clients access to a host of our dedicated advice services.

“We chose Ireland as the jurisdiction to start our European growth story as it is one of the strongest and most robust regulatory regimes in the Eurozone, and due to the similar legal and regulatory structures like the UK. We are looking to expand our range of services and obtain additional licence permissions across Europe over the next few years.”

Founded in 2021, the company GSB has its main office in Dubai, United Arab Emirates.

With its headquarters located in the Dubai International Financial Centre (DIFC) and under the jurisdiction of the Dubai Financial Services Authority (DFSA), the company offers services related to wealth management, financial planning, asset financing, private client structuring, multi-family offices, and capital markets, which includes M&A, pre-listing funding, IPO, corporate finance, asset financing, private fundraising, and venture capital.