Independent private wealth and corporate services group Praxis has announced its expansion into Ireland.
The expansion follows a successful application for authorisation to act as a Trust & Corporate Services Provider from the Department of Justice, which was granted in February this year.
The Ireland operation will initially be based in Dublin’s Harcourt Street and is being led by Alex Beetham, Managing Director of Praxis’ Isle of Man office and Client Services Director Chantal Quayle, who joined the Group earlier this year. With plans for a client-facing team on the ground, the administrative support is being provided by the Group’s well-established operation in the Isle of Man.
A business development team from Praxis was in Dublin last week to meet with the Group’s intermediary network. Chantal was joined by Commercial Director Dominic de Mariveles along with Cormac Sheedy from Praxis’ Dubai office.
Chantal said: “It’s been great for us to be back in Ireland catching up with old and new contacts. With changes to UK regulations, private wealth structuring in Ireland is set to see a boom in the next few years, and our full-service offering of corporate administration and private wealth means we can deliver the full spectrum of support to high-net-worth individuals and families, and international corporates.
“With the growing attraction of the ILP regime, Dublin is also building its position as a key jurisdiction for holding alternative assets, which reflects the demand we are seeing from our clients.”
Praxis CEO Rob Fearis said: “Adding Dublin to the Group is an exciting and natural extension of our global network, which has been driven by client demand and the extensive opportunities the jurisdiction presents.
“Ireland has done an exceptional job of building a favourable open-for-business environment for domestic and international investors. We are delighted to have been granted authorisation by the Department of Justice and excited to see how our presence there develops.”
Pictured: Left to right: Chantal Quayle, Cormac Sheedy and Dominic de Mariveles
