Dubai, UAE –Edmond de Rothschild Group has announced the opening of an advisory office, Edmond de Rothschild (Middle East), at the Dubai International Financial Centre, as it looks to cater to wealthy clients in the fast-growing region.
The Group has obtained an advisory license from the Dubai Financial Services Authority, which regulates services in DIFC, enabling it to locally advise clients and ensure access to the entire group’s offerings, DIFC said in a statement.
“The bank’s conviction-driven investment capabilities are designed to address the challenges facing our society and accompany the major trends that will shape the economy for several decades, giving purpose to investments across our liquid and real assets strategies,” the statement said.
The Switzerland-based firm has been serving its clientele in the Middle East from its main hubs in Switzerland and Europe, while leveraging its local presence through its representative office in Dubai, DIFC said.
Ali Raza Syed, Senior Executive Officer of Edmond de Rothschild (Middle East) Ltd, will be leading the local office in DIFC. He reports to Saman Habibian, Chairman and Market Leader Middle East & Africa at Edmond de Rothschild (Middle East) Ltd.
Essa Kazim, Governor of DIFC, said, “Dubai is the city in the Middle East with the highest concentration of wealth and has access to more than $3 trillion of private wealth within an hour’s flight, which makes DIFC the preferred choice for Wealth & Asset Management firms.”
Ariane de Rothschild, Chair of the Board, Edmond de Rothschild Group, said, “Expanding our presence in the UAE was a natural choice, given Dubai’s spectacular growth for a long time along with DIFC’s expertise and world-class services. Moreover, most of our clients in the region have family-driven business models and their success is based on innovation, strong convictions and action.”