Genevan private bank Mirabaud is opening an office in Abu Dhabi, clinching a weighty local partner to do so.
Mirabaud is opening an office in Abu Dhabi in order to cater to the financial needs of wealthy Emiratis, it said in a statement on Monday. The office, overseen by Abu Dhabi CEO Ronald Tamer, will begin with roughly six bankers.
The expansion is rooted in a local partnership with SBK Holding, a vehicle of Sheikh Sultan Bin Khalifa Bin Zayed al Nahyan. The president of Abu Dhabi is among the richest monarchs in the world with an estimated net worth of $15 billion, according to «Business Insider».
Focus on Wealthy Families
Mirabaud said it will offer domestic and international wealth management services, business development, succession planning support and other investment services to its clientele in Abu Dhabi and the wider emirate. It will target local families, their networks, and partners.
The Swiss bank has been in Dubai, where it employs roughly 40 people, since 2007. Tamer will be backed up by Alain Baron, Mirabaud's head of Middle East and North Africa at Mirabaud, and Olivier Honsberger, CEO of its Middle East activities.
