Geneva - 23 June 2014 - Banque SYZ & CO has opened a representative office in Dubai aimed at a clientele of institutional and private investors in the Gulf Cooperation Council States (GCC), viz. Saudi Arabia, Oman, Kuwait, Bahrain, the United Arab Emirates and Qatar. Initially, the staff of the representative office will consist of George Azar, who will be the manager, and Imran Ahmed.
The representative office will operate within the framework of the Dubai International Financial Centre (DIFC). It obtained the authorization of the Dubai Financial Services Authority, the independent regulator of the DIFC, on 9 June 2014. The DIFC is a financial free zone intended for foreign companies active in the field of finance and benefits from a separate legal framework based on Anglo-Saxon law.
Through this representative office, Banque SYZ & CO intends to promote its activities for institutional investors, such as sovereign funds, pension funds, institutions, multi-family offices and wealthy individuals. The office will cover all six GCC States. The office will also promote the OYSTER investment funds and will examine the opportunities for expansion in the region, such as the launch of specific products in cooperation with local partners.
The Gulf region is particularly dynamic and has been expanding rapidly for about ten years. Dubai, in particular, is displaying great economic vitality and has embarked on a major programme of economic diversification, in particular in new technologies, commerce and high-end tourism. With the DIFC and its stock exchange, the NASDAQ Dubai, its financial centre has established itself as the largest in the region.
Founded in 1996 in Geneva, the Swiss banking group SYZ & CO focuses exclusively on asset management, with 440 employees and assets under management totalling CHF 35 billion (EUR 28 billion). Its activities are based on three complementary lines of business: high-end private banking (Banque SYZ & CO), institutional management (SYZ Asset Management) and the OYSTER investment funds.
Source: SYZ & CO