Invesco ties up with Citibank in Egypt
Dubai, March 4, 2008
Invesco Asset Management Limited, part of Invesco Ltd, one of the largest independent investment management organistions, has signed a distribution agreement with Citibank in Egypt.
Invesco has been present in Dubai for three years and already distributes its products throughout the UAE. All Invesco’s off-shore funds will now be available to Citibank customers in Egypt, said an officials spokesman.
“In line with our key account strategy across the MENA region, we are excited by the opportunity of working with Citibank especially in such a large developing market like Egypt. We believe that working with our key partners in such markets, offers great synergy, both in terms of distribution and product offering. Invesco’s entire off-shore fund range will now be available to Citibank customers in Egypt,” said associate director, Invesco Dubai, Nick Savastano.
Invesco opened its office in Dubai in September 2005 and has a license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC) as an authorised firm.- TradeArabia News Service