Reach for the top: Vimal Damry believes hard work & clear goals are the secrets to his success

Vimal Damry, Managing Director of Premier Group, has always set himself targets for achieving his personal and professional goals.

As a financial services advisor he’s assiduously planned his journey to the top of his profession. At the same time – and as an ardent Liverpool football fan – he fully understands that life and business can have its ups and downs – “you always need to be focused and aim for the top”.

Premier Group

Vimal founded Premier Group, a Management & Trust Company operating in Mauritius, during the 2007 financial crash when the global economy took a nose dive and the financial crunch impacted everyone. He nevertheless stuck to his business plans over the years and now operates three highly successful licensed companies – in Mauritius, the Seychelles (member of
UHY) and Dubai. His qualifications are equally impressive; he is a senior trust practitioner, holds an LLM in Business Law from De Montfort Leicester University, a law degree from the University of London, a degree in Economics from Sri Ram College of Commerce (SRCC) – University of Delhi.

Financial services sector as a career

Armed with these academic accolades, Vimal felt he was naturally attracted to the financial services sector. “It was a natural choice,” he says. “I was always excited about the financial world since my childhood. I did well in school in subjects like Business Studies, Commerce and Economics. “I always keep pushing my goals. Founding the Premier Group was one of the main ones. We started at the height of financial crunch. Unbelievable timing, but by really sticking to my goals, we’ve made Premier into a hugely successful company.”

Challenges along the way

However, Vimal does admit there were times when he needed to stay focused and positive: “There have been many challenges at various stages. Each challenge makes you grow and equips you to better tackle future ones. “Along with the financial crash, one of the main challenges is competition. You have to convince clients that this is a value added service. They need to see the value in what they’re getting from us; that there’s a unique service and it’s not just about fees.” Moreover, Vimal believes coming from Mauritius has helped to shape him as a financial services professional: “Mauritius has been an international financial centre for some 25 years. All my education and training was around how to serve and work in this sector. And that’s why I was so eager to enter the financial sector, while having experience abroad in the UK and India.”

This rounded experience is something he encourages in young people who want to join the sector. Vimal studied and grafted for many years to reach his current position. He believes up and coming financial services professionals should do likewise: “They need to follow the appropriate courses, degrees and professional qualifications first. In addition, they Challenges along the way
However, Vimal does admit there were times when he needed to stay focused and positive: “There have been many challenges at various stages. Each challenge makes you grow and equips you to better tackle future ones. “Along with the financial crash, one of the main challenges is competition. You have to convince clients that this is a value added service. They need to see the value in what they’re getting from us; that there’s a unique service and it’s not just about fees.”

Moreover, Vimal believes coming from Mauritius has helped to shape him as a financial services professional: “Mauritius has been an international financial centre for some 25 years. All my education and training was around how to serve and work in this sector. And that’s why I was so eager to enter the financial sector, while having experience abroad in the UK and India.” This rounded experience is something he encourages in young people who want to join the sector. Vimal studied and grafted for many years to reach his current position. He believes up and coming financial services professionals should do likewise: “They need to follow the appropriate courses, degrees and professional qualifications first. In addition, they need to work hard and learn the rules/regulations, which are the tools for success.” “You have to be devoted – a lot of my time goes in running the practice. There are many administrative and internal things to look at. Managing people and expectations is a big challenge.”

Understanding clients’ wishes

As well as having the appropriate qualifications and knowhow to become a top financial services professional, Vimal is also keen to stress the relationship side of the sector. Understanding clients’ wishes and needs is essential for success. “The service level should be at the top level, no compromise. That’s the base. Each client‘s situation is different. There is no ‘one size fits all’.
Solutions needs to be tailor-made.” This dovetails with a deep understanding of the different sectors: “There is a continuous change and always new products such as fintech. Technology is a big help and definitely a factor.”

Into Africa

Premier’s recent move to provide financial services to Africa-based companies highlights Vimal’s ambitions and his ability to understand different markets:
“Being part of a well recognised and reputable international network is very exciting for us,” Vimal says. “It underpins our commitment to deliver quality services and enhances the advice we can offer our clients looking to expand in other jurisdictions.

“Africa, in particular, has become the destination for emerging markets investors. Whether the client is a fund promoter, private investor or international trader, Premier Group is well placed to provide clients with the right solutions for the right structure, including tax advice.” This also fits with Vimal’s ideas on how to expand the group during the next five to 10 years. Again, there will be challenges – but also rewards. “The challenges are from the changing financial landscape worldwide, and also local and global laws. We need to adapt. But as we adapt we learn and develop. As far as I’m concerned during the next few years we’ll continue to expand and consolidate as a business.”

Work/life balance

Vimal admits that he finds it difficult to juggle his work/life balance as he’s working flat out all week and often at weekends: “We work Monday to Friday, packed with meetings, calls, making sure everything is attended, a lot of time is gone in discussing with my teams. Weekends are special and I like to spend as much time as I can with the family.” The time with his family often includes a lot of travel, fishing trips and the odd day at the races. Vimal is also a passionate Liverpool supporter and a huge fan of watching English Premiership football generally.

Liverpool football club, like all organisations, is currently going through one of those rough patches, but there – as with Premier Group – Vimal is optimistic about the future. “This season’s not been so good for Liverpool, but they’ll take the rough with the smooth and come back next season They always do.”

Contributing Advisors