Mirabaud, the private bank from Geneva, is tying up with a pension solutions firm from Bahrain in a bid to expand its presence in the Middle East.
Takaud, a provider of specialist savings, pensions and investments based in Bahrain, and the Dubai branch of Mirabaud agreed on a business partnership, the Arab Times reported.
Through the agreement, customers of Takaud get access to the range of funds that Mirabaud has on offer in the Middle East. Meanwhile, Mirabaud attains a distribution channel for its products as Takaud is selling its range of pension services to companies and public corporations across the region.
Investment Possibilities
Takaud is owned by holding company Kipco, which owns stakes in 60 firms across Northern Africa and the Middle East, worth a total $30 billion. The industries covered are real estate, media, retail banking and asset management, opening the spectrum of investment possibilities.
Luc Metivier, the boss of Takaud, is a French-speaker with an excellent knowledge of the business in the Middle East and in the West. Previously, he worked a head of Egypt for Franch insurance company Axa.
Metivier and Olivier Honsberger, the head of Dubai at Mirabaud, will push the development of further products for the local asset management and pension market.
