Greece's Alpha Bank Launches Asset Management Services In Cyprus

by Lorys Charalambous, Tax-news.com, Cyprus

25 May 2001

Reports in the Cyprus press say that Greek bank Alpha Bank is to offer asset management services for both institutitonal and private investors. Alpha Bank has a significant presence in a number of countries, including Cyprus, where it will team up with JP Morgan Fleming Asset Management for product promotion in the Cyprus market.

Alpha Bank Group is a leader in asset management in Greece with assets under management of more than EUR 7bn. Its new asset management services comprise investment management and private banking. Andreas Demetriades, chief executive of Alpha Bank in Cyprus, was quoted in the Financial Mirror as saying: 'Building on the Group’s valuable experience and expertise in fund management and its international network in Greece, London, New York, and the Balkans, we are are now in a position to offer portfolio management for institutional investors and private banking.'

Portfolio management for institutional investors is offered to provident funds, investment companies, insurance companies’ funds, mutual funds and other institutional investors. Private banking services will cater to the needs of high net worth individuals, offering professional asset management services customised to the investor’s strategy and objectives.

Alpha Bank says it aims to establish long term personal relationships with its clients and its services are characterised by 'confidentiality, discretion and trust.' It also aims to create and manage portfolios 'with the appropriate flexibility in the ever changing financial markets.'

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