European financial major makes Gulf debut with Dubai deal

Cyprus-based Woodbrook Group Holdings announces acquisition of Dubai-based wealth management firm Mondial
European financial major makes Gulf debut with Dubai deal
Woodbrook’s CEO Michael Doherty.
By Sam Bridge
Thu 18 Jul 2019 02:11 PM

Woodbrook Group Holdings Ltd, one of Europe’s largest international firms of financial consultants, on Thursday confirmed it has established its first base in the Middle East with the acquisition of Mondial (Dubai).

Mondial is one of Dubai's oldest established financial planning and wealth management companies and is regulated by the UAE Securities and Commodities Authority.

Mondial chief executive Sean Kelleher, who has been with the company since 1989 and will remain on as CEO of the expanded entity, said the acquisition marks “an exciting new era” for the company.

Kelleher said: “This is an extremely positive development for Mondial and our clients. Joining the Woodbrook Group strengthens our financial backbone, in turn enabling us to improve our range of client-driven services.

“Woodbrook and Mondial are closely aligned culturally, particularly in the area of compliance. Mondial has a highly transparent regime and Woodbrook, coming from a European MiFID environment with strong compliance, further fortifies our regulatory compliance strategy.”

Woodbrook’s CEO Michael Doherty said the addition of Mondial has greatly strengthened the group’s investment capabilities.

“This gives our clients an even stronger and more diverse range of investment management skills and we believe this will enable us to deliver an even better investment proposition and service to our enlarged client base,” he added.

Woodbrook is headquartered in Cyprus and has offices across Europe and now the UAE, with further acquisitions on the horizon.

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