DIFC launches Associates Programme at Careers UAE 2007Press Release 18 Mar 2007 04:17 pm
- UAE nationals to get training in financial services
- International member companies join hands with DIFC to support programme
- Deutsche Bank, Standard Chartered and Rothschild to offer training
The Dubai International Financial Centre (DIFC) launched an Associates Programme for young graduates and diploma holders in coordination with four of its international members – Deutsche Bank, Standard Chartered and Rothschild. Launched alongside Careers UAE 2007, the DIFC Associates Programme seeks to train and develop the talents of potential candidates so that they can add significant value to the organization.
Speaking at the launch of the new programme, His Excellency Dr. Omar Bin Sulaiman, Governor of the DIFC, said: “The DIFC is committed to the development of a knowledge economy that will serve the growing demand for professional knowledge workers in the local and regional industry. The DIFC’s mandate includes the sustained development of our national youth and their advancement within reputed organizations. This will in turn, lead to their contribution towards the continued economic growth of Dubai, the UAE and the region.”
“This programme has been established in coordination with some of our international members at DIFC, and offers a structured approach to developing the talents of young people in technical and financial skills. The Associate Programme will thus become the basis for preparing a team of second and third tier future leaders in the financial services industry,” he added.
DIFC’s Associates Programme will be available on three levels and seeks to train and develop young national talent as Associates, Management Associates and Future Leaders. The training programme is open to diploma holders, fresh graduates and holders of masters degrees or higher diplomas.
“Being a committed corporate citizen Deutsche Bank is a great believer in sponsoring and educating young and upcoming individuals in the field of investment banking. UAE national Management Associates selected for training within Deutsche Bank will gain a clear insight into the working of an investment bank,” said Ricardo Honegger, Chief Country Officer UAE and Head of GM MENA, Deutsche Bank.
Malcolm Walker, Senior Executive Officer, DIFC, Standard Chartered Bank said “ Standard Chartered is committed to the development of national talent in line with Dubai and the UAE’s strategic agenda. We are the largest employer and a leading bank in the DIFC and in July 2006 signed a MoU with the Centre to work together to develop national talent. This month Standard Chartered and DIFC staff together attended a Payments workshop and a 2 day Islamic Banking course, with presenters drawn from Standard Chartered’s global Cash and Islamic Banking teams. Our support to the DIFC’s Future Leaders programme is further evidence of our active working relationship with the DIFC. We hope to place DIFC Future Leaders in our global network to provide them with the necessary international experience to lead the regions first international financial centre. “
Michael Helou, Co-Head of Investment Banking, Rothschild Middle East said “we are interested in participating in this program to assist in the development of local talents in the fields of Corporate Finance and M&A. This is also consistent with Rothschilds objective of supporting the development of the DIFC as well as to develop people who can potentially drive and be part of the Rothschild business in the region in the long term”
'We are flexible in terms of the duration of the program, depending on individual interests and what would benefit Rothschild and the candidates most. We are looking for highly motivated, high caliber individuals with outstanding academic achievement who are fully committed to succeeding and who have a natural interest in corporate finance” he added.
Applicants for the various positions will be assessed by the Assessment centre and will have to undergo a series of interviews and tests before being selected for internship at the DIFC or one of its member partners for this programme. The Associate Programme will include 6 –8 week internship with continuous training, mentoring and assistance from senior management across various divisions of the organization. Following a review and assessment of their capabilities, the candidates will be offered positions within the organization.
Training includes introduction to the financial industry, orientation to Dubai International Financial Centre Authority (DIFCA), Dubai International Financial Exchange (DIFX) and Dubai Financial Services Authority (DFSA), creative problem solving and supervisory, presentation and negotiation skills. Selected Associates will also receive an overview of asset management, Insurance and reinsurance, Banking and Brokerage, and Islamic Banking in addition to Client, Government and Public relations.