|Description||privately held international group|
The Stanford Financial Group was a privately held international group of financial services companies controlled by Allen Stanford, until it was seized by United States (U.S.) authorities in early 2009. Headquartered in the Galleria Tower II in Uptown Houston, Texas, U.S., it had 50 offices in several countries, mainly in the Americas, and said it managed US$8.5 billion of assets for more than 30,000 clients in 136 countries on six continents.
In 2008, Stanford Financial Group announced it would open a new global management complex in St. Croix, U.S. Virgin Islands, to include the base for the corporate support functions such as business technology, compliance, finance, human resources, investment strategy and legal, as well as the chairman’s office. Completion was planned for July 2009, but this will not now occur.