Regional clients key to asset growth

ABN Amro Bank N.V., which has moved its Middle East private banking operations to the Dubai International Financial Centre (DIFC), hopes to grow its assets under management from regional clients, a senior executive of the bank said recently.

In the Middle East and Asia, the bank focuses its strengths through a presence in three international markets - the UAE, Singapore and Hong Kong - while maintaining a global network for clients with international and cross-border lifestyle needs. “We are focusing on the UAE, Qatar and to a lesser extent on Bahrain and Oman,” Didier Duret, chief investment officer at ABN Amro Private Banking Global Strategy and Research told reporters at a press conference in Dubai. Duret said that the bank remains overweight on emerging market equities and high-rated corporate bonds.  The bank’s global assets under management (AUM) amount to US$160 billion, a spokesman said.

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