Deutche Bank to set up research facility at DIFC
Deutsche Bank Sunday pledged to establishing a significant research unit at the Dubai International Financial Centre (DIFC) in support of its global equities business.
The Bank will develop a team of research analysts based in Dubai focusing on company and technical analysis. The team will cover both Middle Eastern and international stocks and will be fully integrated into the Bank's global equity research group.
Dr. Josef Ackermann, chairman of the management board and group executive committee, said while on a visit to Dubai that "Dubai is both an exciting growth market and a highly-attractive operating environment for dynamic, service-sector businesses. We are pleased to cement our commitment to the emirate by developing an onshore research capability." His statement came during a meeting with Dubai Deputy Ruler, HH Sheikh Maktoum Bin Mohammad Bin Rashid Al Maktoum.
Dr. Omar Bin Sulaiman, governor of the DIFC, welcomed this significant step: "Deutsche Bank has been a big supporter of Dubai and the DIFC since inception, and we see this step as an important one in the further development of the financial services infrastructure in DIFC, Dubai and the whole region".
Over the past three years Deutsche Bank has built an impressive presence in the Middle East and North Africa region, and tripled its headcount to more than 180 staff. The bank has ten operating entities in six countries.
Deutsche Bank's commitment in the MENA region is more than a century old, beginning with what is arguably one of the best known events in economic history: the construction of the Baghdad railway, in which Deutsche Bank participated as financier and operator.
It opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE's Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. (WAM)
The Bank will develop a team of research analysts based in Dubai focusing on company and technical analysis. The team will cover both Middle Eastern and international stocks and will be fully integrated into the Bank's global equity research group.
Dr. Josef Ackermann, chairman of the management board and group executive committee, said while on a visit to Dubai that "Dubai is both an exciting growth market and a highly-attractive operating environment for dynamic, service-sector businesses. We are pleased to cement our commitment to the emirate by developing an onshore research capability." His statement came during a meeting with Dubai Deputy Ruler, HH Sheikh Maktoum Bin Mohammad Bin Rashid Al Maktoum.
Dr. Omar Bin Sulaiman, governor of the DIFC, welcomed this significant step: "Deutsche Bank has been a big supporter of Dubai and the DIFC since inception, and we see this step as an important one in the further development of the financial services infrastructure in DIFC, Dubai and the whole region".
Over the past three years Deutsche Bank has built an impressive presence in the Middle East and North Africa region, and tripled its headcount to more than 180 staff. The bank has ten operating entities in six countries.
Deutsche Bank's commitment in the MENA region is more than a century old, beginning with what is arguably one of the best known events in economic history: the construction of the Baghdad railway, in which Deutsche Bank participated as financier and operator.
It opened its first office in Cairo in 1959, followed in the early seventies by an office in Bahrain. In 1999, Deutsche Bank embarked on a regional expansion drive across the GCC which began with the opening of an office in the UAE's Capital Abu Dhabi in 1999, followed by two offices in Dubai: a representative office inaugurated in 2001 and a branch at the Dubai International Financial Centre (DIFC) in 2005. (WAM)
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