July 18, 2024
Business News

Global financial giant set to bring 1,500 jobs to the region makes major acquisition

A LEADING financial consultancy company intending to bring 1,500 jobs to the region today announced a major acquisition.

Woodbrook Group, who last year announced their intention to create 1,500 jobs in and around Waterford, today confirmed it established its first base in the Middle East.

Woodbrook, headed up by Waterford man Michael Doherty, bought one of the Emirates longest established financial planning and wealth management companies – Mondial (Dubai) LLC.

Mondial chief executive Sean Kelleher, who has been with the company since 1989 and will remain on as CEO of the expanded entity, said today’s development marks the beginning of “an exciting new era” for the company. He said Woodbrook’s client-centred approach and use of Model Portfolios marries with Mondial’s conservative investment philosophy.

Mr 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.”

Welcoming Woodbrook’s latest acquisition, 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,” Mr Doherty added.

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