DIFC attracts AAA (Moody's) quality as Lloyds TSB International Private Bank moves in

International Private Banking (IPB), a division of Lloyds TSB Bank plc, one of the UK’s strongest and most respected brands, has announced it will be moving its activities to the Dubai International Financial Centre (DIFC) on 8 December 2005.
Lloyds TSB began its banking activities in the UAE in 1976 and launched its Private Banking activities six years later. It now provides ultra high net worth individuals in Dubai and the region with personalised investment and wealth planning services, independent advice and professional support all shaped around the client and their specific needs, goals and profile.
Welcoming Lloyds TSB International Private Banking, Dr Omar Bin Sulaiman, Director General of DIFC Authority, commented:
“Lloyd’s TSB is one of the oldest and most respected financial institutions in the world. It is our privilege to have them here. Private banking has always been an important business for the region’s banks and financial institutions, and the service continues to grow strongly. Global economic trends indicate that the Middle East region will continue to offer growing opportunities to the banking and financial services industries, and we welcome Lloyds TSB International Private Banking as the latest international name to join the DIFC family. ”
IPB’s business model is focused on building long lasting relationships with personal clients, providing them and their families with global wealth management solutions designed to ensure flexibility and choice in all aspects of life.
Neil Glanville, Head of Business Development, Lloyds TSB International Private Banking, said:
“We are delighted to be establishing a regional business platform in the prestigious DIFC landmark Gate building. This provides us with a well regulated jurisdiction and a state-of-the-art facility that together form a great service proposition for our private clients throughout the Gulf region."
Lloyds TSB has strong resonance across the globe, due to its strong values, clear leadership, quality products and service and commitment to putting its clients first.