Professional services firm Maitland Group has launched its second office in four months, with the opening of a branch in Monaco.

The new office will be headed by deputy chairman Michael Soloman, who will relocate from London, and wealth management partner Chris Theo.

The office will act as a trust company for Maitland's high net worth client roster. However, even though both Soloman and Theo are qualified lawyers, they will not be providing legal advice due to local Bar restrictions.

Instead, the pair will advise their clients on succession planning, wealth preservation and company management matters.

Maitland's business covers four distinct areas – legal, fund services and asset management in addition to trust work.

Commenting on the new office, Maitland managing director Steve Georgala
said: "Since the firm is not jurisdictionally-bound, we are in a unique position to offer clients cross-border solutions."

The Monaco office is Maitland's 13th office globally following its June launch of an office in the Cayman Islands, headed by Sara Collins. Collins joined from offshore rival practice Walkers.

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