Dolfin awarded custody and depositary licence in Malta
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Dolfin awarded custody and depositary licence in Malta 30 April 2018Valletta Reporter: Jenna Lomax
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Dolfin has extended its global service offering and secured a custody, depositary, and execution licence from the Malta Financial Services Authority.
The licence means Dolfin will now be able to offer private and institutional clients a range of investment services from its new offices in Valletta.
The main beneficiaries are expected to be Malta-based collective investment schemes and trusts that need a local custodian or depositary.
Dolfin will also be able to offer its UK private clients the option of custodying their assets with Dolfin in Malta.
Ramon Bondin has been named CEO of Dolfin’s Maltese operations. He commented: “Malta has a growing financial ecosystem, particularly in the fund space. However, many asset managers wanting to set up here have been underserved in custody and depositary services. The award of our licence will change that.”
He added: “Now we will be able to offer our client base in Malta the level of service and exposure that they would expect when setting up business in London. At the same time, this will allow clients to benefit from the island’s robust regulatory environment, lower cost base, access to a growing financial ecosystem and a highly educated, English-speaking workforce.”
Denis Nagy, CEO of Dolfin, said: “Malta is an increasingly important hub for financial services, particularly asset management and private wealth. Our Maltese operations can now leverage our infrastructure, trading counterparties worldwide and our network of the best global sub-custodians.”
He added: “The extension of our services in Europe, while maintaining proximity to the UK, makes strategic sense for our clients; this is a significant step for Dolfin.”
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