Utmost opens distribution company in Portugal

Utmost has launched a distribution company in Portugal as part of its European growth strategy.

Through Utmost Wealth Portugal, the group will support the Portuguese financial planning and insurance-based wealth solutions market.

Pedro Paixão has been appointed director of Utmost Wealth Portugal having managed Utmost’s wealth protection in Portugal since 2019.

The expansion follows the 2024 acquisition of Lombard International, now known as Utmost Luxembourg. The Portuguese distribution company will distribute solutions from Utmost’s Ireland and Luxembourg entities, providing enhanced access to Utmost’s product suite.

Stephen Atkinson, global head of sales and marketing at Utmost, said: “The launch of our distribution company reflects Utmost’s deep commitment to Portugal and our strategy of building strong, locally aligned distribution capabilities across Europe.

“This development enhances our ability to serve our partner network with clarity and commercial strength, ensuring that Utmost remains a trusted partner in wealth planning across Portugal.”

Paixão added: “Portugal continues to evolve as an important hub for international wealth, driven by globally mobile clients and increasing demand for tax efficient, cross-border planning solutions.

“Utmost Wealth Portugal enables us to strengthen our activities in the country and expand our offering to the wider market, which offers considerable opportunities. We have a strong, experienced team to grow sustainably and the outlook is exciting.”