BDO International establishes Corporate Finance office at the Dubai International Financial CentrePress Release 23 Jun 2009 10:25 am
World's fifth largest accountancy network's DIFC office to act as hub for corporate finance and restructuring advisory work in Middle East
BDO International, the 5th largest global accountancy network, today announced the opening of a new corporate finance office in the Dubai International Financial Centre (DIFC).
The new office - BDO Corporate Finance (Middle East) LLP - will act as a hub for corporate finance and restructuring advisory work in the Middle East.
It will focus on building relationships with and working alongside regional family offices, institutional investors and businesses as well as helping multinational businesses who want to break into the Middle East.
His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC, welcomed BDO International to the DIFC. "The world's fifth most important accountancy consultancy joins a growing list of top global firms at the DIFC, the world's fastest growing international financial hub. We have 20 of the world’s top 25 banks and 6 of the world’s 10 largest asset managers”.
"The Gulf has always been regarded as a cash-rich region and, I am sure, that with expanding opportunities as the centre of gravity of world commerce shifts East, coupled with growing sophistication and increasing depth of our markets, BDO International will have a highly successful operation in the region," added the Governor of the DIFC.
BDO Corporate Finance has received Category 4 Authorised Firm status from the Dubai Financial Services Authority (DFSA). Jon Breach, Corporate Finance Partner, who has relocated from the London office of BDO, heads up the office and has brought with him a team of corporate finance specialists from the UK.
Jon Breach, Lead Partner of BDO Corporate Finance (Middle East) LLP, said: “Over the last few years, we have witnessed the rising influence of Middle Eastern investors in the global corporate finance arena. By having a team of corporate finance and restructuring experts based in the region we are bringing additional specialist advisory services to the strong relationships established by the local BDO member firms. This will result in our clients being able to access a broader range of services, which is why we have opened the dedicated regional office. This market will continue to grow in importance as an international source of capital and the opportunity for us is very exciting. I look forward to working alongside the local BDO member firms in this dynamic region.”
Jawad Habib Jawad, Head of Middle East Region at BDO, said: “The Middle East is strategically important to BDO at an international level. Our strong member firms in the region will benefit from specialist corporate finance and restructuring advisory knowledge, skills and expertise on the ground. Our experience shows that Middle East investors prefer to work with local experts and this is what we will provide through this new venture. Jon brings with him a wealth of experience and he and his team will be able to draw on our regional and international BDO member firms for support where necessary.”