Holborn Assets, a UAE-based financial advisory business, has set up a new office in Johannesburg, South Africa, as part of its global expansion drive.

The new office will offer specialist financial planning strategies to HNW expats and nationals in South Africa with assets ort investments abroad.

It will also advice businesses on their corporate structures and support them in managing their international operations.

Holborn Assets CEO and founder Bob Parker said: “South Africa is full of potential. There’s an enormous amount of capital held by residents outside of the country and Lourens and his team are experts in advising clients on how to manage that for maximum growth and efficiency.”

The office will be run by eight-member team of specialist advisers, headed by Lourens Reichert.

“There’s a growing need for expert financial advice in this area as greater numbers of South African residents are investing offshore or holding overseas assets, creating more demand for a wide range of financial planning solutions to maximise growth potential in a tax efficient way. This sector is becoming an increasingly important part of HNW wealth planning in South Africa and my team is the most experienced one in this field in the country,” Reichert stated.

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By GlobalData

The latest move comes shortly after Holborn’s launch of an office in Hong Kong through the acquisition of Globaleye Hong Kong.

In October 2017, it forayed into Malaysia through the acquisition of Kuala Lumpur-based Greenwood Private Wealth Management.

The firm unveiled plans to further expand its footprint across the globe this year.