Swiss-based Altaira opens Bahrain unit
Manama, February 20, 2012
Altaira Wealth Management, the Swiss headquartered wealth manager, has launched its Bahrain-based subsidiary, Altaira Middle East.
Based in Geneva, Switzerland, Altaira Wealth Management offers wealth management services to family offices and high net worth individuals. In addition, Altaira offers proprietary investment solutions via a Luxembourg-based fund structure: Altaira Funds.
That platform includes proprietary UCITS approved funds crafted in partnership with a group of “strategic alliance partners”. Altaira’s investment solutions include Shariah-compliant investment options, said a statement.
Ghazi Abdul Jawad, chairman of Altaira Middle East, said: “This is an excellent opportunity for Gulf-based individuals to access wealth management services provided by a Swiss wealth manager with truly global expertise combined with a 'local' shareholder base."
Altaira Middle East has several Saudi-based shareholders and is managed by a group of people with long experience in the Gulf region. "This differentiates us from most asset managers currently operating in Bahrain,” said Jawad.
Shaikh Mohammed bin Essa Al Khalifa, chief executive of the Bahrain Economic Development Board (EDB), said: “We welcome Altaira’s decision to set up its regional office in Bahrain. Wealth management businesses play an important role in our financial services sector in providing people from across the Gulf with a means of investing their savings to provide for their future.”
Altaira has established offices in the Seef District of Manama – in Platinum Tower, and has assembled an experienced local staff, including Karim Alansari, who joins as senior client relationship manager, and Eman Mohammed, office manager. - TradeArabia News Service