T. Rowe Price opens Middle East office

T. Rowe Price1 has opened a Representative Office in the Dubai International Financial Centre (DIFC) in response to growing demand from clients based in the Middle East. Pieter Hendriks has been appointed as Director, Business Development Executive - Middle East and Africa with immediate effect and is the Principal Representative for the office.

Pieter will be a contact point for the existing clients the firm has built up in the Middle East over the past seven years and will develop new relationships – introducing the firm’s investment strategies to clients and prospects (which will include sovereign wealth funds, other public entities, pension funds endowments, corporates, financial institutions and family offices) throughout the region.

Pieter joins T. Rowe Price from ING Investment Management, Middle East, where he held the position of Managing Director, Head of Sales & Distribution. Prior to moving to the region in 2008 Pieter was responsible for ING Investment Management Asia Pacific’s institutional business development. He holds a Bachelor in Business Administration degree from Stenden University in the Netherlands.

Marwan Ahmad Lutfi, Deputy CEO and Head of Business Development of DIFC Authority commented:

"With decades of experience and a distinguished approach to managing assets for its clients, T. Rowe price will be able to use the DIFC as a platform to take advantage of the region’s rapidly increasing demand for specialised financial services. The DIFC, with its modern infrastructure, free zone status and self-governing laws and courts, is globally recognised as the preeminent and favoured financial centre in the region. On behalf of DIFC, I am pleased to welcome T. Rowe Price to our growing community offering investors invaluable investment strategies and products throughout the UAE and the region."

Commenting on the appointment, Peter Preisler, Head of Europe, the Middle East and Africa, said:

“Having a local presence reflects our strong commitment to serving institutional clients in the region, offering the advantage of a better understanding of the environment and local preferences. Pieter’s hire is a continuation of our long-term measured global expansion strategy as we continue to build a presence in Europe, the Middle East and Africa. He brings strong technical competence and an institutional approach that is consistent with our culture. His addition to the team is designed to enhance relationships in the local marketplace and support client service offered to existing clients.”