05 November 2012

Swiss Private Bank BSI SA Opens Regional Branch in the Kingdom of Bahrain

- Branch will serve as a hub for the entire Middle East region 

Manama, Kingdom of Bahrain - 05 November 2012 - The Central Bank of Bahrain (CBB) has upgraded BSI SA's, one of the oldest banks in Switzerland, License in the Kingdom of Bahrain from a Representative Office to an Investment Business Firm/Category 2 (Branch) License.

BSI SA is a Swiss Private Bank authorized by FINMA. The bank was established in the canton of Lugano, Switzerland in 1873, and was known as Banca della Svizzera Italiana, having over 130 years of history in Private Wealth Management. Today, BSI has established an international presence across Europe, Asia, the Middle East and Latin America.

From its offices around the world, BSI provides integrated wealth management, investment solutions and integrated banking services to High Net Worth and private clients with complex and evolving financial needs. 

The Central Bank of Bahrain granted BSI SA a Representative Office license back in June 2008. The bank has decided to upgrade its license with the CBB to operate as a branch from which it will serve as a hub for the entire Middle East region.

Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain, "We welcome BSI SA's decision to choose Bahrain as its hub for the Middle East region." 

"The presence of a reputable financial institution such as BSI SA in the Kingdom of Bahrain is of value adding to the Kingdom which is the financial center of the region."

Mr. Edmondo Sarteur, CEO of BSI SA, Bahrain Branch, "BSI believed that Bahrain was the ideal place to set-up its presence in the Middle East. We have expanded our team who provide specialised asset management services and upgraded our licence to expand our product and service offerings in the Middle East to better serve our client base. BSI places great emphasis on establishing and maintaining on going personal relationships with clients, while at the same time offering global asset management services with world-class products." 

Source: Central Bank of Bahrain