Nexus receives strong support in first year of operations

Nexus was launched in September 2006, following a management buy-out of Zurich International Life's (ZIL) direct sales force in the Middle East.

One of the company's earliest objectives was to combine its strong understanding of the needs of the local market with international standards of service and support.

The positive impact of this approach on client relations has been demonstrated over the first year of operations, with more than 90 percent of new clients coming directly from referrals from existing customers.

"Nexus has been able to benefit significantly from its relationship-based approach to client relations, which enables us to understand what our diverse family of customers need in terms of financial solutions and advice,"

said Mahmoud Nodjoumi, owner and CEO of Nexus.

Referral levels - which indicate how many customers recommend a company to friends and contacts - provide a strong insight into the strength of a financial brand. Nexus' referral levels in its first year of operation are among the highest of any financial services company operating in the region.

The annual World Wealth Report 2007, issued by Merrill Lynch and Cap Gemini, found that, globally, wealth management and financial services firms are moving toward more dynamic, needs-based client service approaches.

As the Middle East market for personal financial products continues to mature, companies like Nexus which have built the needs-based approach into their organisational practices will be better positioned to realise greater opportunities.

Moving into its second year of operations, executives at the Nexus Group confirmed that they are examining plans to launch new offices in a number of territories, particularly in markets that are currently under-supported by providers.