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Investec, the leading global banking and wealth management group, today announced the opening of an office in the Dubai International Financial Centre (DIFC) to expand its premium offering across the Gulf region.
The opening of the Group’s office in the DIFC will provide high net worth and high net worth clients, family offices and financial institutions in the GCC with access to a range of services including advisory, arranging and coordinating in private banking, wealth and investment management, corporate and investment banking. The new office will benefit from Investec’s advanced services in Switzerland, which builds on its long-standing Swiss banking heritage and investment resources and operations.
Investec Group’s activities are concentrated in two main geographies, South Africa and the United Kingdom, in addition to the United States, Ireland, the Channel Islands, the Republic of Mauritius, India and continental Europe. By opening an office in the Dubai International Financial Centre, Investec will be able to serve its clients in the region more closely, connecting them to a comprehensive network of international capabilities and expertise.
The Dubai International Financial Centre (DIFC) plays a significant role in driving and shaping the future of the financial sector. With its strategic location and business-friendly regulatory and legal policies and frameworks, the Centre provides an excellent platform for Investec to expand its operations and serve a diverse client base. The Centre is currently home to over 6,000 firms, including over 230 banks, 27 of the world’s top 29 banks, and over 400 of the world’s leading wealth and asset managers.
Commenting on the occasion, Kumesh Mudaliar, CEO, Investec Bank Limited, said: “Dubai and the Gulf region in general are 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 offers to local and international companies.
This reflects the region’s growing importance to the global economy and the ambitious growth plans pursued by its markets. We have decided to join our clients in this high-growth market by opening our new office in the Dubai International Financial Centre, which offers dedicated private banking and wealth management services, in addition to access to our distinguished capabilities in corporate and investment banking.”
Salman Jaffery, Chief Business Development Officer, DIFC, said: “We are delighted to welcome Investec Group to DIFC and Dubai as a whole. The Centre’s favourable global business environment, regulatory and 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. By establishing its office in DIFC, Investec Group can use Dubai as a gateway to access over US$3 trillion of private wealth within a short geographical reach, just an hour’s flight away.”
Investec is known for its relationship-based approach, backed by technology capabilities, providing clients with an integrated international suite of services.
“Investec prides itself on delivering world-class services and creating lasting value for its stakeholders. Through our new DIFC office, we look forward to providing clients with access to our world-class private banking and investment management services, as well as our corporate and investment banking capabilities tailored to their evolving needs,” said Darren Solomon, Chief Executive Officer, Investec DIFC.
