The Dubai International Financial Centre has attracted global banks, asset and wealth managers and hedge funds, and is currently receiving increasing interest from South African entities as investors seek safe havens, a neutral political stance and favourable policies.
Komish Modliar, CEO, said: Investec Bank Limited In a statement, the bank said it will provide its clients with advisory and arrangement services in the field of private banking, wealth management, corporate banking and investment services.
“It is witnessing,” Modliar added. Dubai The Gulf region in general is witnessing a continuous growth in the number of high net worth individuals, due to the level of connectivity, high quality services and growth opportunities that the region provides to local and international companies.”
“The DIFC’s favourable global business environment, legal framework and world-class infrastructure continue to attract financial institutions looking to access a large wealth pool represented by family offices, sovereign wealth funds and high net worth individuals,” said Salman Jaffery, Chief Business Development Officer, DIFC.
“By establishing its office in the Dubai International Financial Centre, Investec Group can use Dubai as a gateway to access over US$3 trillion of private wealth within a close geographical area, accessible within an hour’s flight,” he added.
Investec Group operates in two main geographies, South Africa and the United Kingdom, in addition to the United States, Ireland, the Channel Islands, Mauritius, India and continental Europe.
Darren Solomon, chief executive officer of Investec’s office in the Dubai International Financial Centre, told Reuters that the office currently has a team of two people, and as business grows in the region, more will be hired.
