Bank Sarasin-Alpen wins top product award
Dubai, April 26, 2010
Bank Sarasin-Alpen (ME) Limited, a subsidiary of Bank Sarasin & Company, a leading Swiss private bank has won the ‘Best Structured Product’ award at the 'Banker Middle East Product Awards ceremony held in Dubai recently.
Bank Sarasin-Alpen (ME) said it won the award for its Sarasin-Alpen Rabobank Autocallable Note on the S&P 500 Index.
The bank launched the Rabobank Autocallable note in April 2009 in line with its research call that the equity markets had bottomed out in March.
The product was structured in such a way that even if the markets had not rallied from then, the clients would still get an attractive coupon.
For the clients to lose any of their investments, the underlying S&P 500 had to drop by another 50 per cent (after they had already dropped by over 40 per cent in the earlier few months).
Then prevailing valuations accompanied with high volatility offered an opportunity for clients willing to take low/moderate risk for a lucrative payout.
Rohit Walia, executive vice chairman and CEO, Bank Sarasin-Alpen said, "We are delighted to win the Best Structured Product award for the third year in a row. The award is a reaffirmation of our capability to tailor-make innovative and bespoke solutions for our clients.”
Bank Sarasin-Alpen provides a complete set of high quality private banking services to private and institutional clients in the region.
Bank Sarasin-Alpen has also been awarded the “Best Private Bank” at the Banker Middle East Industry Awards for 2007 and 2008. In addition to Dubai, it has offices in Doha, Muscat, Mumbai and New Delhi.-TradeArabia News Service