The United Arab Emirates is gaining popularity as a financial center for cross-border wealth. The deputy CEO of Neue Privat Bank shares his experiences from doing business in the region and speaks about the current investment environment.
Drawing from the bank’s in-house research, Neue Privat Bank’s (NPB) deputy CEO Peter Albinsson, sees inflation as peaking and thinks it will remain at high levels. If the US is affected by a recession, he expects it to be mild with manageable spillover effects.
During these times of market turmoil, NPB has managed to gain new business and double its assets under management over the past 12 months. This is partly due to its business advising clients in Abu Dabi, where it has been licensed since October last year.
Growth in the Gulf Cooperation Council (GCC) - the political and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - is investment-driven, making it an attractive place to do business, Albinsson says.
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