Wells Fargo Opens New International Branch in DIFCPress Release 28 Jan 2013 02:28 pm
Company’s 10th international branch; Located in Dubai International Financial Center.
To better serve its Global Financial Institutions (GFI) customers throughout the Middle East and North Africa, Wells Fargo & Company (NYSE: WFC) announced today it has opened a new branch in Dubai International Financial Center (DIFC). The new branch will help to expand the company’s existing GFI services, which include trade, payments, deposits, credit and foreign exchange services to financial institutions in the Middle East and North Africa region.
“Wells Fargo has operated in the MENA region for more than 15 years and we intend to strengthen our presence and capabilities to best serve our GFI customers,” said Charles Silverman, head of Wells Fargo’s GFI business. “With our new location in DIFC, we can provide our customers in the region with an expanded range of products and services.”
Currently, Wells Fargo has 12 team members in the new branch office, which is managed by Shoar Hassan, senior executive officer and regional manager, and is located in Gate Village at DIFC. Known as the region’s leading financial center, DIFC serves as the regional headquarters for many global companies and financial institutions.
“We are pleased to welcome Wells Fargo to DIFC and look forward to supporting the company’s mission to expand its offering in the Middle East and North Africa,” commented Jeffrey Singer, CEO of DIFC Authority. “Not only does the addition of such a well-established global name to our client portfolio reinforce Dubai’s position as a leading business hub, providing accessibility and connectivity to surrounding markets, but also shows recognition of the potential opportunities within the region.”
Operating from more than 35 global locations, Wells Fargo’s International Group now has branch offices in Canada, Cayman Islands, Dubai, Hong Kong, London, Seoul, Shanghai, Singapore, Taipei and Tokyo.