NASSAU, BAHAMAS – The Leno Group is looking to have $1 billion under management by year’s end, according to its founder and CEO Sean K Longley.
Longley told Eyewitness News the company has its sights also set on expansion into the Asian market later this year.
He spoke at the groundbreaking of the group’s $25 million new corporate headquarters on Collins Avenue.
“This is the 10th year for the Leno Group of Companies,” Longley said.
“When we starting out we were just looking at pensions, administration, investments and that sort of thing. We have moved from managing $0 to in excess of $800 million. The goal is to have $1 billion under management by the end of the year. God willing we will see what happens.”
He continued: “Last year was a building year. We were successful in purchasing Family Guardian’s wealth book of business. We were also successful in getting our Trust license.
“We brought on a major player in the funds services industry and we were successful in purchasing the Bank of the Bahamas’s Trust book of business.”
The Leno Group has a staff of 20 professionals.
Longley said that having a great team in place has been key to Leno’s success.
“At the end of the day when we first started I would do everything,” he said.
“Now with the team in place I don’t have to be there. I trust every one of them to do their job and do it well. That frees me up to do more things. I believe I have a great team and that helps us to grow.”
Leno has expanded from investment management and brokerage services to providing back office corporate services, fund management, financial consulting, trust services and real estate.
Future expansion calls for a move into the Asian markets in the fourth quarter and continuing penetration in the Latin American market.