PraxisIFM, an independent and owner-managed financial services group, has acquired Balmor Management SA as part of the firm\'s plan to grow its presence in the Middle East.

Geneva-based fiduciary and accounting company Balmor specialises in providing family office and fiduciary services primarily to Middle East clients.

Balmor’s founder Hakim Berhoune will join the existing PraxisIFM team in Geneva, focusing on business development and client relationships. Mr Berhoune has also joined the board of PraxisIFM Trust SA in Geneva.

Mr Berhoune founded Balmor in 2010. He said both companies had a similar approach to...