With the Middle East region rapidly expanding, Edmond de Rothschild Group, a private banking and asset management firm, announced the opening of an advisory office in Dubai to better serve its high-net-worth clients.
The statement emphasises the group’s goals of investing in the region’s best talent and providing a full range of tailored services to its Middle Eastern clients.
The Swiss-based investment firm announced in a statement that it has received a Category 4 advisor licence from the Dubai International Financial Centre (DIFC), allowing it to advise customers locally and provide access to the entire group’s services.
It previously had a representative office in Dubai, but the new location will “enhance” its ability to assist clients in the region by providing cutting-edge services, ensuring closer client accessibility, and capitalising on major market opportunities.
Dubai is a well-known information resource for Middle Eastern and African businesses and investors because it is a global business hub connecting many parts of the world. Clients place a premium on important characteristics such as stability, safety, and innovation.
“Dubai is the city in the Middle East with the highest concentration of wealth and has access to more than $3trn of private wealth within an hour’s flight,” DIFC Governor Essa Kazim states.
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‘’Dubai is a leading financial and economic centre offering unprecedented opportunities, and where the group has been developing its client base for the past ten years,’’ says Saman Habibian, market leader Middle East & Africa, Edmond de Rothschild. ‘’This opening enables our clients in the region, including the expat community based in Dubai, to further capitalise on our international expertise, particularly in the private markets.”
The local office in DIFC will be led by Ali Raza Syed, Senior Executive Officer of Edmond de Rothschild (Middle East). Habibian will report to him.
‘’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. We share their entrepreneurial and pioneering spirit in proactively addressing present and future needs and challenges,’’ adds Ariane de Rothschild, Chair of the Board, Edmond de Rothschild Group.
Rothschild & Co has also opened a new branch in Miami to expand its capabilities in North America, particularly in the Global Advisory business.