Fortis Merchant Banking opens branch office in the Dubai International Financial CentrePress Release15 Sep 2006 12:02 pm
Presence in Middle East strengthened
Fortis (Euronext Amsterdam: FORA / Brussels: FORB) announced today that its businessline Merchant Banking has opened a branch office in the Dubai International Financial Centre (”DIFC”). The branch will be a front office operation providing a whole range of financial services to clients active in the Middle East. They will include Commodity Finance, Institutional Banking, Export and Project Finance. Lending and back office operations will be provided by Fortis in Europe. The office will also provide access to a wider range of financial services of Fortis Merchant Banking on a referral basis.
Filip Dierckx, CEO of Fortis Merchant Banking: “The opening of this Merchant Banking branch is fully in line with our strategy of going global in specialised areas where we have developed a strong leadership position as well as recognised skills and expertise. The DIFC is a dynamic financial centre in the Middle East, and reinforcing our presence there will enable us to serve our customers even better.”
Assem O. Kabesh, Chief Business Development Officer and Board Member at the DIFC, said: “Fortis is a welcome addition to the DIFC’s leading list of international financial institutions. Demand for wholesale financial services in the region continues to grow, providing Fortis with a deep market in which to grow its business”.
Mr Silvan Doorenspleet (37) has been appointed General Manager of the DIFC branch office. He holds a Master’s degree in Economics. Silvan joined Fortis in 1996 as Relationship Manager Commodities and started his international career in 2000 when he became responsible for the Agri Commodities in Singapore. He has been director of the Metals Desk of Fortis Commodities in the Netherlands since 2001.
Fortis already has a presence in the Dubai International Financial Centre through a branch of its Swiss subsidiary, Fortis Banque Suisse SA, which offers private banking services.