Vontobel Launches Private Banking In Dubai

by Lorys Charalambous, Tax-News.com, Cyprus

09 November 2011

Leading Swiss private bank Vontobel has announced plans to establish a physical private banking presence in Dubai through its new offices located in the Dubai International Financial Centre.

The company's DIFC operations will act as the Vontobel Group's regional hub in targeting wealthy private clients in the Middle East and North Africa region and in India.

Vontobel intends to make available a range of structured products to clients in the Middle East, in addition to its offerings in Switzerland and Germany.

"Our activities in Dubai are based on a systematic cross-border strategy that is designed to serve and advise wealthy private clients in international markets in compliance with local regulations but using our powerful booking platform in Switzerland," Peter Fanconi, Head of Private Banking at the Vontobel Group explained.

Roger Studer, Head of Investment Banking at the Vontobel Group, added: "Structured products should form an integral part of the investment portfolios of wealthy private clients. As a leading Swiss issuer, we combine our recognized expertise in the field of financial products with our competencies as a wealth and asset manager to create clear added value for our clients. Furthermore, our modular architecture offers benefits such as allowing third-party providers to structure their own derivatives using our sophisticated 'deritrade' distribution platform. Vontobel supplies an extensive range of underlyings, as well as a large number of different product types with diverse risk/return profiles, to enable providers to design structured products.”

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