The licence means that BMI can offer its discretionary
investment management, security and dealing services to South
African investors from its Guernsey and Jersey bases. Through their
professional adviser, South African investors will be able to
access BMI's full range of investment services, including its
International Bespoke Portfolio Service, International Managed
Portfolio Service, and established segregated equity and bond
The licence follows the hiring of Lindsay Bateman as a Business
Development Director in January 2014, as part of a move to target
new business opportunities in South Africa and internationally.
Mr Bateman has been approved as a key individual by the FSB,
alongside Senior Investment Manager Gary Hill.
Darren Zaman, Chief Executive Officer of Brooks Macdonald
International, said: "The granting of the licence is an
important step for BMI as we continue to develop our business
internationally. Our increasing international reach supports our
local trust company and adviser business partners, and we are
pleased to say that this latest development in the expansion of our
global capabilities makes us one of the few Channel Islands based
discretionary investment managers with a license to operate in
Mr Bateman added: "Alongside the formation of our dedicated
Africa team, made up of senior investment and client servicing
managers, the license cements our commitment to supporting our
South African client base and Channel Islands based business
partners with an African focus."
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