Lloyds TSB Offshore Limited opens in the Dubai International Financial CentrePress Release04 Apr 2006 10:56 am
Lloyds TSB Offshore Limited is delighted to announce that it has been licensed by Dubai Financial Services Authority to operate as an authorised firm from the fast-growing Dubai International Financial Centre (DIFC).
The expansion into the DIFC is primarily focussed at promoting wealth management services to the professional and institutional market, in particular the Lloyds TSB range of offshore funds.
Jon Trounce, Senior Executive Officer, Lloyds TSB Offshore Limited Dubai said, "Dubai is a key market for our Offshore Banking Division and we are delighted to now be in a position to extend the services offered across the Middle East. Relationships are paramount to our success and I am looking forward to working closely with intermediaries to build upon our presence in this important region. I would like to thank the Dubai Financial Services Authority for their assistance during the registration process."
Dr Omar Bin Sulaiman, Director General of DIFC Authority, commented: “We are pleased to note that Dubai International Financial Centre holds great attraction for financial giants such as Lloyds TSB, one of the oldest and most respected financial institutions in the world. Last year, their private banking division moved into the DIFC and now we welcome Lloyds TSB Offshore Limited.”
The range of funds offered by Lloyds TSB offshore includes 'AA' and 'A' rated award winning funds (Standard & Poors UK Fixed Interest Review 2005/2006) and provides investors with opportunities for capital growth or income, with varying risk profiles.