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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.