European Wealth, the specialist wealth management group, has announced the opening of an office in South Africa.

The move follows its recent acquisition of a client bank from Towry Asset Management. Many of the clients involved are based in Southern Africa and this office reflects European Wealth’s commitment to servicing clients locally.

Based in Johannesburg, the new office will be led by Paul Heber, who has extensive experience in wealth management in the region. He was previously a director of Savoy Asset Management and an investment manager at Société Générale. The team also includes former Cazenove partner, Tony Lederle and former Executive Managing Partner in 1st Corporate Advisory Group, Sureshan Moodley.

John Morton, Chief Executive Officer, European Wealth, said, “Southern Africa is an exciting opportunity for us. It is a region that we know well and many of our team have direct experience of working with clients from this area. We have always been committed to servicing our clients locally and with the acquisition of this client bank it was essential that we had highly skilled local expertise available to them. We are delighted that Paul and his team will be on hand to deliver the high standard of service our clients expect and deserve.”

Paul Heber, General Manager Africa, European Wealth, said, “I am hugely proud to be a part of the EW team and it is a great privilege to be representing the company in Africa. Our clients here can have very different requirements to those based, for example in the United Kingdom. One thing, however, remains the same – their need for excellent service. Being based here in Johannesburg, we are available to help and support them as required. It is one of the most important characteristics of European Wealth’s approach.”

Source: Original press release