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British investment firm Floreat Group has formed a new unit in the Cayman Islands as part of its strategic growth strategy.
The newly launched business, dubbed Floreat Wealth Management (Cayman), will offer private office investment services to ultra-rich individuals and families globally.
Based in Camana Bay, the new unit will be working closely with the company’s London headquarters to offer bespoke access to a range of private-office services.
Floreat Group CEO Mutaz Otaibi said: “In the changing landscape of wealth management, we believe it is key that businesses are global and can deliver the high standard of specialised services that UHNW clients demand.”
The company has hired Clive Thomas to head the Cayman office while Billy Harty will head the investment team.
Thomas is re-joining Floreat after working for Walkers Global for four years as a Partner, where he concentrated on transactions, fund formation, and downstream corporate transactions.
Otaibi added: “With a proven track record, Clive and Billy are well-placed to kickstart the next level of Floreat’s growth.”
The company has also hired Matt Ellis as investment manager. He will be in charge of managing the private and alternative market investment programme as well as oversee customer portfolio allocations.
Thomas commented: “The Cayman Islands represents an excellent opportunity for Floreat to bring its extensive services to a new pool of select clients. Through our experienced investment team and our personal private client services, we will be able to build on the excellent reputation Floreat Group has in a historically underserved region.”
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