Parker speaks about how, in what has been the company’s 25th Anniversary year, the company has been able to thrive across the cross border world with its expertise in  citizenship coming to the fore.

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In a statement today (25 November) the global financial service provider said it has had a strong presence in the region for some time, picking up multiple accolades over the years.

Holborn Asia’s dedicated website would increase its digital footprint, and it also “represents the company’s ongoing commitment to providing its clients with the highest levels of service”.

As with Holborn’s other local websites, the aim is to boost client engagement and provide valuable insights tailored to the local market.

The Asia arm of the company has won nine Investment International awards over five consecutive years for excellence in client services and advisory best practices, it highlighted.

Managing partner for Asia, Greg Miller (pictured above), said: “2024 has been an excellent year for us, and we have continued to grow and maintain our position as one of Asia’s leading financial service providers.

“Winning the regional Investment International Awards for the fifth year running is a testament to our team’s hard work and commitment to our clients.

“We are excited about the launch of Holborn Asia’s website and look forward to using it to engage with clients and enhance their experience.”

Speaking about the launch and what it signifies, Holborn COO Simon Parker (pictured below) said: “We have never underestimated the importance of a strong digital presence.

“Holborn has always invested heavily in technology, committing over $2 million annually. Part of this investment is developing local websites to improve client services digitally.

“With the release of this website, we are looking to engage further with our customers and provide enhanced services. It will help us further stamp our mark on the Asian market as we look to grow and expand.”

This year marks 25 years of service for Holborn Assets. It’s also been a year of considerable growth for the company in Asia beyond the digital space.

Holborn Assets CEO, Robert Parker said: “We are delighted to announce the launch, in this our 25th year of operations, of the new Asia-focused website.

“We do this at a time when we continue to expand and invest heavily in the region, with the excellent leadership of our Managing Partner for Asia, Greg Miller, and our commitment to our offices in Hong Kong, Vietnam, Malaysia and Thailand.

“Plus the acquisition of more regulatory licenses, including the recent addition of the flagship Hong Kong Securities license, we look forward to the next 25 years of dominance in the market.”

“The vision for the company at that time was that we would be a small independent financial organisation – possibly with up to 20 Advisers. Here we are, 25 years later, with 200 plus advisers and 18 international offices.”

Those are the words of Holborn Assets CEO Bob Parker as he reflects on the company’s journey. But success, as we will find out, didn’t just happen by accident, nor was it a linear path.

What lies at the heart of any company that stands the test of time is a story. As Holborn Assets celebrates 25 years, this is theirs.

This is the story of how a challenging situation in the United Kingdom turned into a global financial services company.

Click here to watch a video about Holborn Asset’s journey.

Our story begins in 1993. During the ’90s, the UK saw the start of major regulatory change, including commission disclosure and the demise of direct sales forces. This would result in widespread casualties across the financial services sector, including the collapse of several large companies. At the time, Bob Parker was the sales director of a FTSE 100 company, with thousands of people working for him.

But overnight, everything changed. And like many in the financial services industry, after making his 2000-man sales force redundant, he also found himself out of a job. 1993 was the start of reducing direct sales advisers from over 30,000 to less than 5000 – with many leaving the industry and others moving into independent networks.

After 4 years with a Network, instead of dwelling on things, Bob decided to take a chance in a country few had heard of at the time – The United Arab Emirates.

As a child, the now COO of Holborn Assets, Simon Parker, recalls the day his Father set off to the Middle East to lay the groundwork for the next chapter for him and his family. “I remember him getting in the car, and I remember his saying, ‘I’ll see you all soon.’”

With Pauline and family waiting in anticipation in the UK – Bob arrived in Abu Dhabi without knowing anyone!

“The important thing when you arrive in a new territory is to get to know people as quickly as you possibly can,” Bob explains. At that time, the world was a very different place. Smartphones didn’t exist, and only 9% of UK households had internet access. Floppy Discs served to store data for the PC.

Snail mail and landlines were still very much in evidence. Meeting people was very much about getting into the marketplace. Connecting with people had to be done the ‘old-fashioned way’.

Bob Parker was, however, resourceful!

“In Abu Dhabi, there was a British club – it seemed a good place to start. I went to the manager and asked him if I could put a seminar on,” said Bob. “I said I would provide the chicken curry and bottles of white wine if I could just invite members of the club to come and listen to a short presentation,” he continued. Nearly 70 people attended the seminar, which he jokingly attributes to the free curry and wine. But while the free curry may have got them there, it was Bob’s seminar that helped him secure his first clients, marking the start of his business in the UAE and what would go on to become Holborn Assets.

Speaking about the inception of Holborn Assets, CEO Simon Parker said: “When Bob started (Holborn), he wanted to create something that put the client first, and he wanted to build it for the people inside the company. This is why we said integrity and respect for all – that’s both internal and external.” With a strong company culture and a growing business, it was time for Holborn to find a new home.

Holborn was an MBO from FINEXCO, a subsidiary of the South African company Old Mutual. In July 1994, the MBO was complete, and the move was made to Dubai.

“This is where it all started,” said Bob as he approached the Pyramid Centre in Dubai to revisit the all-too-familiar building. He reflected fondly on the company’s time at the iconic building and what it meant for Holborn’s growth. “It’s fair to say this is where Holborn matured. It moved from being a child through its teenage years and on to maturity. By the time we were leaving here, we were an established company.” But to get to the next level, Holborn needed to find the missing piece of the puzzle. And they found it in Bob’s brother, Philip Parker, a seasoned corporate CEO and Chairman.

Speaking about his childhood and relationship with his brother Bob, or Robert as he is known to the family, Philip Parker, now Chairman Emeritus at Holborn Assets, said: “We went to the same Boarding school from a very early age. I was always given a pat on the back for doing the right thing, whereas Robert tended towards the opposite. The conventional me and rebellious Robert worked together very well, and we are, and have always been, very close.” And work well together they did.

Philip gave the company a sense of corporate discipline that had been missing. As Simon Parker states, he ‘fundamentally changed’ how Holborn operated. Most importantly, he drew on his years of experience working in large corporate environments to add clear lines of communication and structure. “As we grew, it was important to have some structures; otherwise, things can become chaotic. So, that is what we did,” explains Philip. The rest, as they say, is history.

Holborn grew in every aspect. The company upgraded its offices, moving into the Al Shafar Tower in Barsha Heights. It also grew financially year after year, putting Holborn in the financial position to absorb the top team from a major competitor – Globaleye. But perhaps, just as importantly, Holborn had cultivated an outstanding reputation within the industry, allowing them to recruit the best talent from the UAE.

Statistically, the chances of a business failing are high. Nearly 19% of businesses fail within the first year, and only a quarter (25%) make it past the 15-year mark. However, for the last 25 years, Holborn has flourished. Their accolades include 25 international offices, 18 regulated licenses, 500 employees, and $2 billion assets under management.

That begs the question: What is the key to success? Bob, Simon, and Philip all bring something different to the table. While their styles and approaches may differ, their answer to that question is unanimous – ‘people’.

“The biggest challenge to growth in any business is the people resources you have; it’s always about people—finding the right people and then managing the right people,” explains Philip.

Bob Parker echoes this sentiment: “What is important is when you find people who are good, you retain them. You do that through the (company) culture, training people, caring about them, caring about their lives. Making sure they’ve got a future, where are they going, helping them to grow.”

Despite the changing landscape and the world becoming increasingly digitised, it is human beings that remain at the heart of the company. “Holborn will always be a people business. With technology, AI, and changes in compliance and regulation, what will never change is us being a people business and a family business. One that cares deeply about who we are and the journey we are on together,” said Simon.

He finished with a simple but poignant statement: “The people are Holborn, and Holborn are its people.”

At 25, Holborn has reached early adulthood. But this is not the end; it’s just the start of the next chapter. Here’s to the next 25 years.

Click here to watch a video about Holborn Assets.

According to the FCA register Holborn Assets Ltd has been in liquidation since October 2023.

It has stopped taking on new business but is still required to meet FCA standards when dealing with its customers.

To read more on this topic, visit: UK firm fails relating to SIPPs

The FSCS told International Adviser that it believes there are likely to be a small number of claims from former clients for unsuitable advice in regard to pensions.

Inspirational Financial Management

The firm went into administration in November 2023 but the FSCS told IA that it was taking part in the FCA’s redress scheme for former BSPS members.

Therefore it expects to received a number of BSPS claims.

While the firm is still authorised by the FCA according to the register it is only authorised for specific activities and product types.

The bank has appointed Jane Niles as chief executive.

She is taking over the role from Brendan Stewart, who is stepping down after five years.

Niles joined Investec in 2016, initially leading the corporate and family office segment, and more recently, acting as head of offshore real estate and head of lending.

Irwin Mitchell

The law firm and advice group has named Craig Marshall as group chief executive.

This is following the death of the firm’s former chief executive Andrew Tucker.

Marshall joined Irwin Mitchell in 2007 when the firm merged with Scottish law firm Golds before being appointed chief executive of Irwin Mitchell’s personal legal services division from 2014 to April 2021.

He then became group chief operating officer in 2021.

Legal & General Investment Management (LGIM)

The asset manager has named Pauline Plunkett as chief executive of its European operation and managing director of Ireland, subject to regulatory and board approvals.

She was previously head of insurance clients, having joined LGIM in March 2014.

Brown Shipley

The Quintet Private Bank subsidiary has hired Andrew Kyle as chief financial officer, subject to regulatory approval.

Kyle, who served as chief financial officer of Coutts for the previous five years, will join Brown Shipley in October 2023 as chief financial officer designate, working alongside the firm’s outgoing chief financial officer Andrew Curran, who will retire in March 2024 after serving at the UK private bank for over 20 years.

Standard Chartered

Mike Tan has joined the bank as global head of wealth planning and family advisory.

He was most recently part of the wealth advisory team at JP Morgan NA, Singapore.

Lombard Odier

The wealth manager has appointed Alexandre Meyer as managing partner.

Meyer joined Lombard Odier 25 years ago.

Annika Falkengren, who joined the group in 2017, has decided to step down as managing partner at the end of 2023.

MKC Wealth

The independent wealth management firm has appointed Rick Eling as managing director of its authorised investment management business MKC Investment Management.

He joins from Quilter, where he was latterly head of adviser propositions and spent four years as investment director of its advice network Quilter Financial Planning.

Alexander Peter Wealth Management

Claire Taylor has joined the advice firm as a transatlantic financial planner.

She was previously at Forth Capital, where she was an international planner.

Indosuez Wealth Management

The global wealth management arm of Crédit Agricole Group has named Emile Salawi as head of the Middle East.

He joined Indosuez Wealth Management in 2020 as head of key clients and family offices of CA Indosuez (Switzerland) SA.

EFG

The company has named Francesca Speroni as team leader and deputy head of private banking of EFG Private Bank, the UK private banking arm of EFG International.

Speroni has joined EFG from Credit Suisse, where she was a managing director and served as team leader UK for more than five years.

Earlier this year, EFG also hired Inbal Shiloach as client relationship officer focusing on Israeli ultra-high net worth individuals (UHNWI).

She joined the bank from Julius Baer, where she spent 12 years and most recently served as head of Israel out of London.

Vivian Yuen also joined EFG in London earlier this year as client relationship officer with responsibility for UHNWIs based in Hong Kong and Greater China.

She previously worked for Julius Baer Hong Kong, where she was most recently an associate manager serving private clients booked in Hong Kong, Singapore and Switzerland.

HSBC

The UK private banking arm has recruited a team of relationship managers in its London office.

Phil Aleppo will lead the team and joins from Credit Suisse where he led a team of ultra-high net worth and high net worth bankers in the UK domestic team.

Joining the team are Henri Etchegoyen, Brad Werner, Usmaan Aziz and Oliver Beasant.

Elsewhere, Lok Yim has been named as regional head of global private banking, Asia Pacific.

Yim joins HSBC on a designate basis on 1 November and commences formally on 1 January 2024, subject to regulatory approval.

Yim succeeds Siew Meng Tan, who is retiring after an almost forty-year career in banking.

He joins HSBC from Deutsche Bank where he spent 16 years, most recently as chief executive for Hong Kong SAR.

Belasko

The financial services provider has appointed Alex Le Prevost as associate director.

Le Prevost was previously at Suntera Global, where he was a senior trust manager.

UBS

Ulrike Hoffmann-Burchardi will join the firm’s chief investment office as head chief investment officer for equities, effective 23 October 2023.

Hoffmann-Burchardi joins from Tudor Investment Corporation, where she has been a partner and senior portfolio manager since 2009.

Holborn Assets

The Dubai-based firm is launching a major expansion of its residency and citizenship investment (RCBI) division.

It has appointed Pablo Ostrick to be the managing director of its RCBI unit, known as Holborn Pass.

In his new role, Ostrick will hire 25 advisers this year to work alongside the firm’s 250 wealth managers.

He was previously general manager of Holborn Pass.

Macquarie Asset Management

Henry Middleton has joined the firm as managing director and head of wealth distribution for Europe, the Middle East, Africa and Asia.

He was previously at Barings, where he most recently led its US institutional and global wealth distribution activities.