New investment bank launched in the UAE
Dubai, May 9, 2011
A new investment bank has been launched in the UAE by Hong Kong headquartered parent group, United Financial Partners (UFP).
The new investment bank named United Investment Bank (UIB), has been established to offer a range of customised services to chosen high net worth individuals (HNWI) and institutional clients, particularly those with an interest in investment opportunities presented by emerging markets.
Falling under the jurisdiction of the Dubai International Financial Centre, UIB is regulated by the Dubai Financial Services Authority, an attribute UIB expects to attract clients from other emerging markets to invest through the UAE financial system.
Coupled with a deep sector expertise in industries that represent some of the strongest options for global investment such as oil and gas, renewable energy, hospitality and leisure, entertainment, sports, and agribusiness, UIB aims to open new investment possibilities to chosen clients interested in taking their portfolios and businesses to a new level. UIB is authorised to also develop these services through a Shariah-compliant Islamic window.
Alongside the launch, UFP has also appointed Raul Silva as chief executive of United Investment Bank. A Portuguese national, Silva has over 11 years of experience in senior management positions at a variety of investment management companies, serving as CEO of other financial institutions in Dubai, Hong Kong and Angola. Silva was also previously chief of two Portuguese local development agencies.
UIB is currently expanding its Dubai-based team. These along with new investment projects will be announced in due course.-TradeArabia News Service