Salamanca Group, the London based merchant banking and operational risk management business, has opened an office in Cape Town, South Africa.
Located in Convention Towers in Foreshore, it provides Salamanca Group with a South African hub from which to advise clients operating and investing across Southern Africa and beyond.
The group is establishing a Cape Town office in response to increased local demand for the blend of merchant banking and risk management services that it delivers from London and other locations around the globe. Some members of the London team will be seconded to Cape Town to drive the provision of group services across Africa and will be joined by the local trust and fiduciary team from the group’s recent Investec Trust Services acquisition.
The new office will be led by Simon Turner, who has been with the business since foundation in 2002. His role as strategic director at Salamanca Group has involved working with blue chip companies across Africa and the US.
“Salamanca Group has historically always had presence in Southern Africa and the acquisition of the Trust Services business has led to a natural evolution of our offering in the region. We have experienced increased demand for our services as companies and high net worth individuals from around the globe look for ways to invest and operate in Africa and its frontier markets. A permanent office in Cape Town affords us the opportunity to better provide the full range of business services that we can offer as well as enhancing our overall agility and quality,” says Martin Bellamy, the CEO of Salamanca Group.
The South African office is the third new office opening for Salamanca Group in six months, following on from openings in Rio de Janiero, Brazil and Houston.
Turner says: “I am delighted to be leading the new Salamanca Group office in Cape Town. Having a local footprint enables us to easily service the entire evolution of a company from scratch, from helping to set themselves up with our research, business intelligence and risk services to using the local trust and fiduciary team. Our corporate advisory unit can advise on activity once the company is established and upon exit, we can manage and protect HNW wealth.”