deVere re-opens offices in Madrid


03 Aug, 2017

deVere re-opens offices in Madrid
The Spanish division of one of the world’s largest independent financial services organisations has reopened offices in Madrid, it has today been announced.
deVere Spain, part of the award-winning deVere Group, also has offices in Marbella and Barcelona.
The relaunch in the Spanish capital is being led by David Owen, who was previously a senior wealth consultant for deVere Acuma in Abu Dhabi, and who has moved to Madrid to head the expansion.  He will report directly to Andrew Oliver, Senior Area Manager of deVere Spain and recently-appointed James Green, deVere’s Head of Western Europe.
The new offices are located in the Torre Europa Building in the heart of the city’s financial district.
Mr Owen comments: “The decision to open offices again in Madrid has been taken due to increasing demand for our specialist financial advice, products and services from individuals in and around the Spanish capital.
“With a growing amount of enquiries from this area over the last year, we decided to relaunch a physical presence in the city.  The move is consistent with deVere’s long-standing approach of being located in those destinations wherever there is a significant and growing demand from expatriates and international investors who seek our cross-border financial expertise.”
He continues: “Almost three years ago, the Madrid office was closed and all those clients continued to receive the same high quality service from our thriving Spanish hub offices in Marbella and Barcelona. 
“However, the number of enquiries being received and the ongoing demand from Madrid, now makes it more sensible to once again have a team based in the city itself.
“We expect to have at least seven full time consultants and their respective support staff in Madrid by the end of the year to meet the current demand.  This is then likely to further increase in 2018.”
Mr Owen goes on to say: “We attribute the increase in demand to three key drivers. 
“First, the strengthening Spanish economy.  Indeed, it’s economy is back to pre-crisis size, growing by 0.9 per cent in the second quarter thanks to improved exports and household spending.  Of course, as the capital and nation’s major financial hub, Madrid is both a driver and main beneficiary of this upturn. The positive economic forecast is contributing to attract more and more expats and investors from overseas to the city.
“Second, Brexit.  There is an increase for some financial products, such as recognised overseas pension transfers, by expatriates before the end of the UK’s ‘divorce proceedings’ with the EU.
“And third, because deVere Spain offers something quite different. We’re not the usual wealth management company. Besides having a global presence, meaning that if your clients move from Madrid, they can still receive the same high quality services from another deVere office, we also have a foreign exchange division, digital banking services, and private banking, amongst others, besides the retirement planning, insurance, savings plans and inheritance tax planning that we offer.”
The relaunch of the Madrid office comes following the appointment of James Green in May as Head of Western Europe.
At the time of his appointment, deVere founder and CEO, Nigel Green, affirmed: “One of the decisions we have made, based on the Strategic Review of our corporate structure and operating units is to extensively expand and develop our already solid position across Western Europe.
“This expansion and development of the region is now a major priority for the organisation for the rest of 2017 and beyond.  
“We’re set to shake-up the Western Europe market place. Of that, I am confident.
“Underscoring our commitment to this move, we’re committing extra investment and resources to Western Europe.  This will include expanding our existing bases in Spain, France, Germany, Switzerland and Italy and opening at least two more offices in the region. 
“Of course, this will create a raft of new and extremely rewarding career opportunities for talented advisers to work within a growing, responsible organisation.”