The wealth management firm Ravenscroft has recently announced that it will be opening an office in Monaco. In order to do so, the firm has established a joint venture in partnership with Monegasque company Tavira. The venture was approved by the Commission de Controle des Activités Financières, allowing the new pole to operate legally within the territory.
Ravenscroft is a wealth management firm that oversees over 7 € billion in assets. Tavira is a Monegasque company specialized in commodities, derivatives and equities execution services. The Tavira-Ravencroft joint venture will allow the former to establish an activity hub in the Principality and offer tailored services to Monegasque residents and citizens.
Excitement around the Monaco expansion for Ravenscroft
Ravenscroft group managing director Mark Bousfield issued this statement: “This is incredibly exciting news for Ravenscroft. A core part of the company’s long-term growth strategy is to offer our range of services in jurisdictions which share similar characteristics to the Channel Islands where we are very proud to have our headquarters,”
That growth will come organically, through acquisitions and through finding like-minded partners as we have with Tavira. Over the last decade, we have been building Ravenscroft, expanding our services and adding the right caliber of staff across all parts of the business to allow us to export the model, which has delivered the success we have enjoyed to date, to other jurisdictions. Tavira Ravenscroft will offer our key services such as execution-only trading, advisory investment and discretionary investment management to Monaco’s residents.”
Eliot Goodfellow, Tavira found and Chief Executive touted the joint partnership’s benefits for both companies: “We recognized there was a need for a different investment approach for Monaco residents and so we are delighted that we have found a partner in Ravenscroft which will allow us to expand our offering to not only our existing clients but prospective ones as well.”
New site, familiar management
Ravenscroft’s head of trading, Dale Acton, who has been with the company since its inception in 2005, will manage the new Monaco-centric business. He will be joined by partner Debbie Wilson, who has been with the firm’s investment management team for a decade.
Mr. Acton issued this statement: “This is an exciting opportunity with enormous potential and I am confident that Tavira Ravenscroft will be welcomed by those living in the Principality.
We are well-versed in providing a broad range of financial services in a professional, bespoke and friendly manner, and in operating in smaller locations where we can be a part of the community. I’m confident that investors will find a company with those credentials and attributes very appealing.”
More information on Ravenscroft can be found on their official website.