Financial services group PraxisIFM has acquired Geneva-based fiduciary and accounting company Balmor Management, which specialises in providing family office and fiduciary services primarily to Middle East clients.
Balmor Managing Director Hakim Berhoune (pictured), who founded the firm in 2010, joins PraxisIFM’s team in Geneva as Director, focusing on business development and client relationships.
He has also joined the board of PraxisIFM Trust in Geneva.
"PraxisIFM has been looking to develop the Middle East market and the group’s capabilities will be enhanced by this acquisition and Hakim joining our team. With more than 14 years of experience in the fiduciary services area, Hakim has extensive contacts and is an Arabic speaker," said Brian Morris, Chairman of PraxisIFM.