Financial advisory founded by Irishman gears up for Nasdaq listing

A financial advisory company founded by Waterford native Michael Doherty is aiming for a market value of up to $50 million (€44 million) as it prepares for qualification for a Nasdaq listing.

Woodbrook Group, has acquired a US company to activate a Nasdaq listing as it seeks to grow its business to have €20 billion in assets under management.

The financial advisory which offers a range of products including wealth management and pension planning is based in Cyprus and is understood to be eyeing acquisitions in Ireland and Dubai.

In the US, Woodbrook recently acquired NHPI, The Irish Times has learned, which will allow it list on the Nasdaq exchange.

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Mr Doherty (45) will be chief executive of the newly restructured entity which will remain headquartered in Cyprus as it is regulated there.

“It is a great honour for us to get listed on the Nasdaq, the world’s most preeminent and prestigious exchange. Over the past few years we’ve worked hard to achieve this milestone.

This will enable us to grow as an organization and expand in new markets without compromising on our integrity and the bespoke services we provide to our clients,” Mr Doherty said.

Mr Doherty started his career with IFG in Ireland before working with a series of wealth companies and ultimately establishing Woodbrook five years ago.

Woodbrook, in partnership with family office Inter-M Traders, could reach the target of €20 billion under management in the next 12 months, making the company one of the biggest in Europe, Mr Doherty explained.

Woodbrook is regulated by the Cyprus Securities and Exchange Commissioner (CySEC) and holds a MiFID II investment license.