The private bank – which will be known as deVere Group Bank St Lucia – is set to be the first private bank to be owned by an independently owned financial advisory firm.

Nigel Green, founder and CEO of deVere Group, said thanks to the hard work of its teams across the globe it had been able to dominate the international advisory sector over the last 14 years.

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“While we will continue to implement ambitious expansion plans for our financial advisory business and lead from the front in this arena, it is extremely exciting to also be entering the banking sector. 

“deVere Group Bank St Lucia will allow us to further broaden our offering as a company. 

“We are now able to directly provide private international banking services for our clients and corporate banking solutions to small businesses."  

Nigel said that the bank would be an integral part of its business and said the move had been driven by demand from clients who were increasingly seeking asset and capital protection and growth combined with confidentiality. 

“The convenience offered by our private bank will be a key advantage for our clients who are, typically, expats and international investors.

“With accounts offering centralised, secure, flexible and international access to funds, they are, naturally, a good option for those who live more internationally mobile and transient lives.

Nigel concluded by adding: “The launch of deVere Group Bank St Lucia marks a major milestone for deVere. 

“This latest project underscores deVere’s commitment to continually evolve and develop in what are undoubtedly challenging times. 

“It also further demonstrates our status as a leader in the global financial community."