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‘No plans to leave Gibraltar’, finance company insists

Blacktower Financial Management Group has played down reports that it would pull out of Gibraltar in the wake of the Brexit vote, insisting it remained committed to the Rock.

The Gibraltar-based company was reacting to a report in a trade magazine which quoted its group managing director, John Westwood, saying Blacktower would move to another European country to preserve its EU passporting rights.

But the company described the article as ‘a tad alarmist’ and insisted that it was not relocating from Gibraltar, adding now was not the time for ‘knee-jerk’ reactions.

“Gibraltar provided us with the opportunity to build a strong and robust business and we have no intention of leaving the jurisdiction, quite the contrary,” Mr Westwood and Robert Mancera, Blacktower’s director and general manager, said in a statement yesterday.

They added: “In fact, we are on the verge of moving into larger premises and taking on additional staff within the Gibraltar office.”

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