DUBAI: Europe’s financial consultancy Woodbrook Group said it has had acquired Mondial (Dubai), marking it entry into the Middle East, for an undisclosed sum.

Mondial was established in 1988 in the UAE and regulated by the UAE Securities and Commodities Authority (SCA). Sean Kelleher, the current Chief Executive Officer of Mondial, will remain in his position for the expanded entity.

“This is an extremely positive development for Mondial and our clients. Joining the Woodbrook Group strengthens our financial backbone, in turn enabling us to improve our range of client-driven services,” Kelleher said.

Woodbrook’s CEO Michael Doherty said the addition of Mondial has greatly strengthened the group’s investment capabilities. “This gives our clients an even stronger and more diverse range of investment management skills and we believe this will enable us to deliver an even better investment proposition and service to our enlarged client base,” Doherty added.