MFS International opens office in Dubai International Financial CentrePress Release07 Aug 2007 08:54 am
MFS International Limited, a subsidiary of the listed Australian parent company, MFS Limited (ASX: MFS), has taken the next step in its global expansion by opening an office in the Dubai International Financial Centre (DIFC). MFS Limited is an ASX 200 listed, international investment and advisory business.
MFS International Limited has been granted a license by the Dubai Financial Services Authority to provide investment and advisory services.
Nasser Al Shaali, Chief Executive Officer, DIFC Authority, said: “We are pleased to welcome MFS International, one of the leading investment managers in the Australian and New Zealand markets, to the DIFC. Opening an office here will allow MFS International to provide its clients with unparalleled access to the markets of both the Middle East and Oceania, as well as worldwide, and help promote increased capital flows between these two vibrant regions.”
Stuart Price, CEO of MFS International, says: “The opportunities for MFS to launch the next stage of our global expansion from the UAE reflects the potential for this region.
“The UAE provides a strong mix of both vision and regulation. The vision, desire and capacity of the region to build, what arguably is or will be the most important financial and business hub globally, combined with corporate and financial regulation of the highest level is attractive to any business.”
MFS Limited has a substantial funds management and investment business in Australia and New Zealand, as well as significant investments throughout Africa, Asia and Europe.
Mr Price says: “The decision to relocate a team of 10 senior Australian staff to the region was simple. The success MFS Limited has achieved to date is a reflection of the abilities of our staff. The core values, competencies and culture have been demonstrated by our staff in the Australasian business, and are now successfully being translated to our global venture. The professionalism and ability to complete transactions is critical in ensuring the success of our local business, and our contribution to the region.
“MFS decided early to show a strong commitment to the region and we have relocated one of the founders and former Managing Director, Mr Phil Adams of MFS Limited, as well as the CEO of our Funds Management business and our Chief Operating Officer to Dubai. Having such strong credentials is only the first step in building local relationships.”
MFS International will focus principally on advisory and financial structuring services for M&A transactions, as well as providing an opportunity for local investors to tap into its attractive and innovative funds in Australia.