Nexus Group is set to close its offices in Singapore as the company will focus on the core markets in the Middle East.
Nexus Financial Services, the Asian unit of the financial adviser, will likely shutter its business in Singapore later this year, according to a report by «International Investment» (for registered users only). The report didn’t say how the information was obtained.
Nexus was created in 2006 through a management buy-out of the distribution service of Zurich International Life in the Gulf region, according to the report. It is considered one of the largest financial advisers in the region.
After the closure of the business in Singapore, Nexus will focus on its business in the Middle East, where it employs about 550 consultants.
