Financial advisors to launch private banking service for SMEs
Financial advisors from international financial consultancy company deVere Group are to launch a private banking service for UK SMEs and international clients.
The creation of the bank, which will be called deVere Group Bank St Lucia, follows the company’s acquisition of private banking firm Arton Bank.
According to deVere Group, the new bank is the first to be independently owned by a finance advisory company and will enable the company to offer more banking services to its clients, including services for small businesses.
Commenting on the new bank, deVere Group Founder and CEO Nigel Green stated that the company is now able to directly provide international banking services and corporate banking solutions for small businesses.
Green added that deVere Group made the decision to launch the bank as a response to growing demand from the company’s clients.
deVere Group Bank St Lucia is not the only new private bank to target SMEs. Last year, a new corporate challenger bank, Corpernicus Bank, was launched into the UK banking market to provide services for SMEs.
Commenting on the benefits of deVere Group Bank St Lucia, Green said: “The convenience offered by our private bank will be a key advantage for our clients who are, typically, expats and international investors.”
Green said that with accounts that offer centralised, flexible and secure international access to funds, they are a good choice for those people who live a more internationally mobile and transient life.
He added that deVere Group Bank St Lucia provides the opportunity to move beyond the traditional activities of banks and meet the requirements of clients in a more globalised but insecure world.