The asset manager first established itself in the Middle East in 2006 when it opened an office in Bahrain. The new office will be managed by Sami El-Eid who also manages the Bahrain office and is within the Dubai International Finance Centre.
Dexia AM chief executive Naïm Abou-Jaoudé said: “We see tremendous growth prospects in the MENA area, as higher oil prices over the long-term are in part set to increase GDP in the GCC, which will in turn create new opportunities for local asset managers.
“With its world class regulatory framework, the DIFC provides us with a stable environment to continue to develop our business across the region, and I am confident that this new, broader, footprint will enable us to reinforce our local presence and reach our objectives.”
