Pictet sets up new office in the DIFC

Added 31st October 2016

Geneva-based Pictet Asset Management has opened a new office in Dubai’s International Financial Centre (DIFC).

Pictet sets up new office in the DIFC

The asset manager, which has operated in the UAE since 2007, said in a statement that the new premises are “testament to our strong growth in the region”.

Francesco Genovese, head of Pictet Mena, central Asia and frontier markets, said: “Our clients will significantly benefit from DIFC’s geographical location and we look forward to growing our asset management portfolio further.

“We have 17 business development centres globally and our office at DIFC will further bolster this growth through providing new opportunities for expansion.”

Genovese added that the asset manager, which has $159bn (€144bn, £130bn) assets under management, would continue to exclusively focus on managing assets for institutional clients.

With over 26 offices around the world, Pictet also has custodian banks in Geneva, Luxembourg, London, Frankfurt, Madrid, Paris, Nassau, Hong Kong and Singapore.

Meanwhile, Arif Amiri, chief executive of the DIFC authority, welcomed the move, saying it was part of the financial hub’s strategy to promote itself “as a destination of choice for asset management services across the entire Middle East”.

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Monira Matin

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Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.

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