Doha: Banque SYZ & CO has announced the opening of a representative office in Dubai. The new office will be aimed at a clientele of institutional and private investors in the Gulf Cooperation Council States (GCC). It will operate within the framework of the Dubai International Financial Centre (DIFC).
The representative office obtained the authorisation of the Dubai Financial Services Authority, the independent regulator of the DIFC, on June 9. 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.
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.
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.
Initially, the staff of the representative office will consist of George Azar, who will be the manager, and Imran Ahmed. George Azar, with more than 20 years in the financial sector, is a very experienced banker. Prior to joining SYZ & CO, George Azar was in charge of the local office of Jefferies International Limited.
The Peninsula
