deVere Group said the move will lead to it being at the forefront of the offshore fianncial advisory and also it becoming the first financial advisory with this facility in Northern Malaysia.

Country Manager Terry Howes remarked, "We are pleased to be granted permission from LOFSA to have a new office for Northern Malaysia, following the success of our first office in Kuala Lampur. The new office in Penang will enable us to grow deVere’s business in Malaysia and continue to service our growing client-base in the region".

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deVere has more than US$8 billion of funds under administration and management and over 60, 000 clients in over a hundred countries.

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