DIFC Welcomes Leading European Independent Wealth and Asset Manager PictetPress Release29 Oct 2016 11:00 am
Dubai-UAE: 29 October 2016 – Dubai International Financial Centre (DIFC),the global financial services hub connecting businesses and institutions with emerging market opportunities across the Middle East, Africa and South Asia (MEASA) region, today announces the addition of Geneva-based Pictet Asset Management, a leading asset management company for institutional clients.
A subsidiary of the Pictet Group, Pictet Asset Management has operated in the UAE since 2007 serving institutional clients across the region. The Pictet Group has a global presence with 26 representative offices, subsidiaries and branches in financial centres around the world. Headquartered in Geneva since inception in 1805, the Group includes custodian banks in Geneva, Luxembourg, London, Frankfurt, Madrid, Paris, Nassau, Hong Kong and Singapore.
On this occasion, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “We are pleased to welcome one of the most established and respected asset managers to DIFC’s business community. This marks another step in the Centre’s 2024 growth strategy to develop the financial hub as a destination of choice for asset management services across the entire Middle East, Africa and South Asian region, the fastest growing in the world. DIFC offers a geographically attractive platform, underpinned by an internationally benchmarked regulatory and legal system, and it enables investors to tap into key emerging markets.”
Francesco Genovese, Head of Middle East & Africa, Central Asia and Frontier Markets, at Pictet Asset Management, said: “Our move to DIFC is a testament to our strong growth in the region and our confidence in the Centre as a key enabler in connecting businesses and financial institutions with emerging opportunities across the MEASA region. Our clients will significantly benefit from DIFC’s geographical location and we look forward to growing our asset management portfolio further.”
He added: “Managing assets for institutional clients is our exclusive focus and we bring this formidable experience to DIFC. We currently manage US$159 billion in assets, invested in equity and bond markets worldwide. We have 17 business development centres globally and our office at DIFC will further bolster this growth through providing new opportunities for expansion.”
DIFC continues to play a pivotal role in meeting the growing financial services needs of the region and serves as an ideal destination for international businesses.