deVere Group believes its new private bank is the first in the world to be owned by an independently-owned financial adviser firm.

The company revealed this morning it was launching its own private bank, after it acquired Arton Bank.

In a statement, the firm said: “deVere Group Bank St Lucia is understood to be the first private bank to be owned by an independently-owned financial adviser firm.”

The founder and CEO of deVere Group, Nigel Green, said: “The move into the private banking sector has been largely driven by demand from clients who are increasingly seeking asset and capital protection and growth, combined with confidentiality.

“deVere Group Bank St Lucia enables us to move beyond traditional banking activities and meet the requirements of clients in an ever more globalised, yet insecure, world.”

Mr Green said: “The convenience offered by our private bank will be a key advantage for our clients who are, typically, expats and international investors.

“With accounts offering centralised, secure, flexible and international access to funds, they are, naturally, a good option for those who live more internationally-mobile and transient lives.”

He said: “The launch of deVere Group Bank St Lucia marks a major milestone for deVere. We are now able to directly provide private international banking services for our clients and corporate banking solutions to small businesses.”