Representatives of financial institutions from more than 15 countries will take part in a special event organised by Euromoney with focus on private banking and wealth management in the GCC in Bahrain this week.

The first Euromoney GCC Private Banking Conference will be held on March 7 at the Ritz-Carlton.

Euromoney is working together with the Bahrain Economic Development Board (EDB) to create a special event in Bahrain at a time of significant global uncertainty and change.

The financial institutions include the Central Bank of Bahrain (CBB), the OECD, Credit Suisse, Investcorp, UBS, National Bank of Bahrain, Ahli United Bank, Arcapita, Arab Bank, Premier Group, Mumtalakat, DBS, Bank of Tokyo Mitsubishi, BNP Paribas, Citi and Goldman Sachs.

“The private banking and wealth management industry is a vital part of the GCC economy” said Richard Banks, director of Private Banking at Euromoney Conferences.

“The industry and the market it serves are changing fast. We’re delighted to be able to work with the EDB to create a day long strategy forum to take the temperature of the industry here in Bahrain and the wider region.”

Shaikh Mohammed bin Essa Al-Khalifa, chief executive of the EDB said: “We are delighted to be hosting this event in Bahrain. There is an increasing demand across the Gulf economies for sophisticated products and advice to help people manage their wealth.”

“We, in Bahrain, are proud to play an important part in this industry. Financial services accounts for over 14,000 jobs in Bahrain and we see private banking as an important part of developing this industry in the future.”

The event will include contributions from the CBB global regulators, international banks, and local and regional wealth managers. It will focus on how the industry is changing and how it can and must adapt to meet the challenges it faces.

Rohit Walia, executive vice chairman and CEO, Bank Sarasin-Alpen Group –Middle East & South Asia stated: “The world of private banking is changing at a rapid pace with the current market conditions and evolving regulatory framework and investor preferences.”

“Private banks need to respond to these changes and review their approach to business. I look forward to the exchange of views with other business leaders on the topic,” he added. – TradeArabia News Service