Brooks Macdonald International has announced the opening of an Isle of Man office in Douglas.
Forming part of Brooks Macdonald International, which also has offices in Jersey and Guernsey, the new office will help the firm expand relationships with clients and intermediaries and support its growth in Europe, the Middle East and Africa.
Richard Hughes, CEO, Brooks Macdonald International, commented: “The Isle of Man is well regarded as an international centre of excellence for financial services.
"We see a strong opportunity to extend our relationships through the Isle of Man, building on our acquisition last year of the Lloyds International funds and wealth management business.”
The new office, the group’s 14th, is led by Phil Penrose (pictured), who has more than 25 years’ experience in international financial services, having spent 10 years overseas in the Middle East and Singapore before joining Brooks Macdonald.
Brooks Macdonald International opened its Jersey and Guernsey offices in 2012, and now has £2.5bn of funds under management.