Barings opens Dubai office
London, October 20, 2010
Baring Asset Management (Barings), the international investment management firm, has opened a representative office in Dubai in response to growing demand from Middle East-based clients.
Barings was recently awarded a representative office license by the Dubai International Financial Centre (DIFC).
Nisarg Trivedi has been appointed as head of sales and business development, UAE, reporting to Rob Lay, head of Europe, Mena and Alternatives, effective immediately.
Trivedi joins from the Bank Muscat asset management sales team, where he was responsible for growing their distribution network across both retail and institutional channels in Dubai.
“We are very pleased to be opening an office in this exciting region, which is a natural progression for Barings,” said Lay.
“It demonstrates our commitment to these markets and our desire to build on the many valued relationships that we have throughout the region. We believe that establishing an office in the DIFC will be a very effective way to achieve our objectives and thank the DIFC for granting our licence.”
“We are also pleased to welcome Nisarg to our team. We are confident that his considerable experience will allow us to provide excellent service to our clients and grow our business in the region,” he added.
Marwan Lutfi, deputy CEO and head of business development at DIFC Authority, said: “With its long experience in managing funds and portfolios in different emerging markets, Barings will be able to use the DIFC as a platform to take advantage of the Middle East’s rapidly growing demand for specialised financial services.”
“Now with the introduction of the new funds regime which permits DIFC-based fund managers to establish and manage funds in other jurisdictions, the centre will be even more attractive as an investment centre for both foreign and domestic fund managers,” he added. – TradeArabia News Service