Investec, a prominent international bank and wealth management firm, has officially launched its office in the Dubai International Financial Centre (DIFC), a premier global financial hub in the Middle East, Africa, and South Asia (MEASA) region. This strategic move enhances its unique offerings in the Gulf region.
Connecting wealth in the GCC
The DIFC office will facilitate connections between high-net-worth individuals, family offices, and financial institutions within the Gulf Cooperation Council (GCC), providing advisory and arranging services in private banking, wealth and investment management, as well as corporate and investment banking. This new location, the Dubai Media Office reported, will capitalize on Investec’s robust services in Switzerland, leveraging its Swiss banking heritage, group resources, and investment methodologies.
Global reach and local expertise
The Investec Group operates primarily in two key regions: South Africa and the United Kingdom, alongside its presence in the USA, Ireland, the Channel Islands, Mauritius, India, and Continental Europe. Establishing an office in DIFC allows Investec to be more accessible to its clients, linking them to an extensive network of global expertise and capabilities.
Read more: DIFC sees rapid expansion, adds 820 companies in H1 2024, AUM reaches $700 billion
Rise of high-net-worth individuals
Cumesh Moodliar, CEO of Investec Bank Limited, noted the ongoing rise of high-net-worth individuals in Dubai and the Gulf region. He emphasized that the area provides strong connectivity, quality services, and growth opportunities for both domestic and international companies. This trend highlights the region’s increasing significance in the global economy and its ambitious growth objectives. He mentioned that Investec is committed to following its clients into this high-growth market, offering personalized private banking and wealth management services along with access to corporate and investment banking capabilities.
DIFC: A gateway to wealth
Furthermore, Salmaan Jaffery, chief business development officer at DIFC Authority, expressed excitement about welcoming Investec to DIFC and Dubai. He further highlighted that DIFC’s exceptional business ecosystem, legal and regulatory framework, and top-notch infrastructure continue to draw financial institutions seeking to tap into substantial wealth from family offices, sovereign funds, and ultra-high-net-worth individuals. He added that by establishing a presence in the Dubai International Financial Centre, Investec could leverage Dubai as a gateway to over $3 trillion in private wealth within a short flight.
Commitment to client-centric services
Darryn Solomon, senior executive officer of the Investec DIFC office, conveyed that Investec takes pride in delivering world-class service and creating lasting value for its stakeholders. He anticipates providing clients with access to global private banking and investment management, as well as corporate and investment banking opportunities tailored to their evolving needs.
Role of DIFC in global finance
In addition, Dubai International Financial Centre is instrumental in driving and shaping the future of finance. With its strategic positioning and business-friendly legal and regulatory environment, DIFC offers an ideal platform for Investec to broaden its operations and cater to a diverse clientele. Currently, the Centre is home to over 6,000 companies, including more than 230 banks, 27 of the world’s top 29 globally systemically important banks, and over 400 leading wealth and asset management firms.
Moreover, Investec is recognized for its relationship-driven approach, enhanced by advanced technological capabilities, creating a client ecosystem that benefits from a cohesive international offering.
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