Globaleye Group acquired by London Stock Exchange listed Asset Manager TEAM

Dubai, 31.5.2023 – Neba Private Clients announces today that TEAM, an Asset Management Company based in Jersey and listed on the London Stock Exchange, has acquired 100% of the Company as part of TEAM’s expansion strategy. Post-acquisition, TEAM will manage over USD 1bn in assets with operations in Jersey, Guernsey, United Arab Emirates, Singapore, Malaysia and South Africa. 

Dubai headquartered Neba Private Clients is an Independent Wealth Manager established in 1996 by its Chairman Timothy Searle. The Company specialises in providing tailor-made and individual investment and insurance solutions for its more than 10’000 clients globally from its operations in the Middle East, Asia and Africa. Globaleye is fully regulated by the UAE Central Bank and SCA, the MAS in Singapore and its equivalent in Labuan and South Africa. 

Neba Private Clients is the perfect fit for TEAM’s expansion plans

“We declared our intention to expand internationally, including the Middle East, Asia and Africa. We are delighted to complete the acquisition of Neba Private Clients and excited to welcome its clients and talented colleagues to TEAM” says Mark Clubb, Executive Chairman of TEAM. The acquisition of Neba Private Clients, increases TEAM’s presence in key markets such as the United Arab Emirates, Singapore, Malaysia and South Africa.

Strong synergies between Neba Private Clients and TEAM

“The combined strength of both businesses will enable us to offer a broader range of in-house services, including cash and treasury management services in addition to the tax, estate, and wealth planning services we already provide,” says Neba Private Clients Chairman Timothy Searle. Both companies offer complementary services, adding significant synergies and a more comprehensive offering for clients.

Neba Private Clients will continue to pursue its expansion strategy in the Middle East, Asia and Africa with the full support of TEAM and its experienced M&A management team. Strategic initiatives include hiring top talent from the region and talent wishing to relocate from abroad, growing by acquisition and opening licensed entities in new markets. “Needless to say, the regions we currently operate in are experiencing strong growth. However, new opportunities may arise, such as a presence in Saudi Arabia,” says Timothy Searle.

Neba Private Clients Founder now a significant TEAM shareholder

The nature of the transaction foresees that Neba Private Clients shareholders are fully paid with TEAM shares.  “Since Neba Private Clients inception in 1996, I have been passionate about building a business that delivers quality advice and wealth solutions to private clients. I am not seeking an exit but rather a partner who can support our growth ambitions. I am proud to become a significant shareholder in TEAM.” says Globaleye Founder Timothy Searle.

Timothy will remain Chairman of Neba Private Clients and work closely to support the company going forward on its growth ambitions.

Neba Private Clients range of services

Neba Private Clients has a stellar track record in offering highly personalised financial advice to its clients across the globe. Going forward, Neba Private Clients will be able to offer the following services:

-       Wealth and lifestyle planning

-       Tax optimisation, structuring and estate planning

-       Business succession and intergenerational wealth planning

-       High value life and general insurance

-       Discretionary investment management

-       Cash and treasury management

About Neba Private Clients 

Neba Private Clients is a professional advisory firm offering holistic wealth, investment, insurance and tax planning solutions to private clients, family offices and corporations worldwide from its head office in Dubai; with global branches in Singapore, Kuala Lumpur, Abu Dhabi, Durban and the UK. The Company was founded by Timothy Searle in 1996, making it one of the first financial advisory firms in the United Arab Emirates. The Company is chaired by its founder Timothy Searle and managed by acting CEO Rupert Searle.

About TEAM plc

TEAM plc is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM plc’s core skill of providing investment management services. Growth will be achieved via targeted and opportunistic acquisitions, through team and individual hires, through collaboration with suitable partners, and organic growth and expansion.