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Categories
| Alexander Beard management takes over Labuan ops |
| Business & Market 2009 | |||
| Written by The Edge Financial Daily | |||
| Friday, 03 July 2009 00:02 | |||
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In a statement yesterday, Greenwood said the move was granted regulatory approval from the Labuan Offshore Financial Services Authority (Lofsa) and took effect from Wednesday. The new firm would be directed by the two Alexander Beard managing partners Jacqueline Evans and Matthew Green. Speaking on the rationale behind the breakaway, Green said he and Evans had been looking for a new channel through which to drive their business throughout the second half of 2008. "We felt we needed to be partnered with someone whose core business was offshore and with a much more Asia-centric outlook. "After lengthy negotiations with selected parties it was clear that our vision on how an offshore IFA should operate did not match perfectly with those of the people we were speaking with. When the opportunity to take over the franchise, its clients and licence to conduct business in Malaysia became available it was one we seized immediately."
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