Rothschild & Co has opened its new wealth management office in Dubai, offering independent investment advice to ultra-high-net worth families, entrepreneurs, charities and foundations, operating under a DFSA Category 4 licence.
Located in Dubai International Finance Centre (DIFC) and already fully operational, it is headed by Sascha Benz, a senior banker who has relocated from Rothschild & Co in Switzerland, the statement on 19 November said.
Clients will benefit from increased access to locally based advisers, supported by the established Geneva-based Middle East team.
Laurent Gagnebin, CEO of Rothschild & Co’s wealth management business in Switzerland, said: “As our Wealth Management business continues to grow substantially, we are excited to be able to strengthen our presence in the Middle East with our new office in Dubai.
“With Sascha’s experience and existing broad network of qualified clients among local investors, business owners and wealthy local and international families, we are confident of growing a strong Wealth Management client base in the region, working closely with our successful Global Advisory and Five Arrows businesses here.”
Saeed Al Awar, partner and head of the Middle East at Rothschild & Co, said: “This expansion signifies Rothschild & Co’s increasing commitment to the wider region by bringing another of its key businesses here, building upon our strong and leading presence in the Middle East and in the financial advisory space. The expansion will enable us to directly and strategically provide holistic advice to families and entrepreneurs on their long term journey.”
Sascha Benz, Rothschild & Co’s head of wealth management, Middle East said: “This strategic expansion is a testament to our commitment to strengthening client engagement in the region. As a financial centre with impressive demographics and a growing GDP per capita, Dubai is a highly attractive market for us. Its international positioning acts as a gateway to the entire Middle East region.”
Rothschild & Co further stated that creating a local presence in Dubai was key for its ambitious wealth management growth strategy, to invest in markets where it has an established network and reputation.
Rothschild & Co’s Global Advisory business in the Middle East has been providing M&A, debt advisory and restructuring, and equity advisory advice to a broad spectrum of clients for almost 20 years.
