Baring Establishes Dubai Office

by Lorys Charalambous, Tax-News.com, Cyprus

25 October 2010

Baring Asset Management (Barings), the international investment management firm, has announced the opening of a representative office in Dubai in response to growing demand from clients based in the Middle East.

Barings has recently been awarded a representative office license by the Dubai International Financial Centre (DIFC), with the office having officially opened on October 20, 2010.

Rob Lay, Head of Europe, MENA and Alternatives at Barings, says: "We are very pleased to be opening an office in this exciting region, which is a natural progression for Barings. It demonstrates our commitment to these markets and our desire to build on the many valued relationships that we have throughout the region. We believe that establishing an office in the DIFC will be a very effective way to achieve our objectives and thank the DIFC for granting our licence.”

Commenting on behalf of the DIFC Authority, Marwan Lutfi, the authority’s Deputy CEO and Head of Business Development, said: "With its long experience in managing funds and portfolios in different emerging markets, Barings will be able to use the DIFC as a platform to take advantage of the Middle East’s rapidly growing demand for specialized financial services. Now with the introduction of the new Funds Regime which permits DIFC-based fund managers to establish and manage funds in other jurisdictions, the Centre will be even more attractive as an investment centre for both foreign and domestic fund managers. We are pleased to welcome Barings to the DIFC, allowing investors a greater access to the firm and its range of investment products in the UAE, GCC and throughout the Middle East."

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