PraxisIFM's plans for expansion in the Middle East have been
bolstered following the acquisition of a Swiss-based fiduciary and
accounting company.
The Guernsey-based independent financial services group has
bought Balmor Management SA, which is based in Geneva. The company
specialises in providing family office and fiduciary services
primarily to Middle East clients. Balmor's founder Hakim
Berhoune will join the existing PraxisIFM's team in Geneva,
focussing on business development and client relationships. Mr
Berhoune has also joined the board of PraxisIFM Trust SA in
Geneva.
"PraxisIFM has been looking to develop the Middle East
market and the group's capabilities will be enhanced by this
acquisition and Hakim joining our team. With more than 14 years of
experience in the fiduciary services area, Hakim has extensive
contacts and is an Arabic speaker. Hakim is a great addition and we
look forward to deepening our relationships within the Middle
Eastern market,"
