Barings opens Dubai office in response to growing client basePress Release20 Oct 2010 10:39 am
Mr. Nisarg Trivedi appointed as Head of Sales and Business Development, UAE
Baring Asset Management (Barings), the international investment management firm and winner of a Queen’s Award for Enterprise: International Trade 2010, has announced the opening of a representative office in Dubai in response to growing demand from clients based in the Middle East. Barings has recently been awarded a representative office license by the Dubai International Financial Centre (DIFC), and the office officially opens today. Mr. Nisarg Trivedi has been appointed as Head of Sales and Business Development, UAE, reporting to Rob Lay, Head of Europe, MENA and Alternatives, effective immediately.
Mr Trivedi has worked and lived in Dubai for several years and has developed valuable local market knowledge. He joins from the Bank Muscat Asset Management sales team, where he was responsible for growing their distribution network across both retail and institutional channels in Dubai. Previously he was Manager of Sales and Distribution at HDFC Asset Management, responsible for sales of the HDFC Mutual Fund across the Middle East. Before that he was Area Sales Manager for Franklin Templeton Investments, India.
Rob Lay, Head of Europe, MENA and Alternatives at Barings, says: "We are very pleased to be opening an office in this exciting region, which is a natural progression for Barings. It demonstrates our commitment to these markets and our desire to build on the many valued relationships that we have throughout the region. We believe that establishing an office in the DIFC will be a very effective way to achieve our objectives and thank the DIFC for granting our licence.
Rob Lay continues, "We are also pleased to welcome Nisarg to our team. We are confident that his considerable experience will allow us to provide excellent service to our clients and grow our business in the region."
Marwan Lutfi, Deputy CEO and Head of Business Development at DIFC Authority, said: "With its long experience in managing funds and portfolios in different emerging markets, Barings will be able to use the DIFC as a platform to take advantage of the Middle East’s rapidly growing demand for specialised financial services. Now with the introduction of the new Funds Regime which permits DIFC-based fund managers to establish and manage funds in other jurisdictions, the Centre will be even more attractive as an investment centre for both foreign and domestic fund managers. We are pleased to welcome Barings to the DIFC, allowing investors a greater access to the firm and its range of investment products in the UAE, GCC and throughout the Middle East."