Edmond de Rothschild Group, a major private bank headquartered in Switzerland, is launching a new hub in Dubai’s DIFC to expand its presence and client base in the MENA region.
The bank has been covering the region from Switzerland for years but decided to establish a base in Dubai to leverage its expertise and ensure proximity to clients. The move comes as private banks worldwide increasingly focus on the UAE to cater to the country’s growing number of high-net-worth investors.
According to Saman Habibian, Global Market Leader for the Middle East and Africa at Edmond de Rothschild, Dubai and the Middle East have been important markets for the bank, and Dubai has positioned itself as a key hub for the entire region and various sectors.
The private banking business will focus on clients with investable assets of over $5M. The bank will also offer wealth planning for family offices, family-owned businesses, and entrepreneurs across their entire lifecycle.
Edmond de Rothschild invests in sustainability and trends of the future such as renewables, health care, and the food sector, which has contributed to the bank’s successful track record in the private banking space. The bank manages almost CHF 158B ($168.76B) in assets as of December 31, 2022, and has 2,500 employees and 29 locations worldwide, according to Zawya News.
