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European major, Dexia Asset Management at Bahrain Financial Harbour
Iconic Centerpiece of Bahrain Financial Harbour – 53 storey Dual Towers to open for business in April 2007
Manama, Bahrain, 27, January, 2007: Bahrain Financial Harbour Holding Company (BFHHC) today announced that that Dexia Asset Management, a leading European asset management company from Luxembourg, has committed to an uptake of space on the 23rd floor of the Dual Towers. The Dual towers, apart from being Bahrain’s tallest towers also form a key component of the Financial Centre, which is the phase I of the landmark Bahrain Financial Harbour (BFH).
Commenting on the agreement with Dexia Asset Management, Mr. Stephen Rothel, Chief Executive Officer, BFHHC, said:
“We are delighted to welcome Dexia Asset Management to the rapidly growing BFH family. Dexia AM has gained a great reputation across the European market, in offering asset management solutions to institutional and private investors. We thus consider our agreement with Dexia AM as yet another milestone and a significant endorsement from a European financial institution on the benefits of partnering with BFH for growth. Through BFH, which is a $3 billion master planned development, it is our aim to create a complete financial city, a self contained community in the Kingdom of Bahrain. Having partnered with many major financial sector and retail companies, this partnership proves that our efforts are not only being recognised by the GCC region but also in international markets."
The Financial Centre consists of three components – Dual Towers, a Financial Mall and the Harbour House. The Dual Towers will provide office and commercial space for the financial services industry while the Financial Mall is designed specifically for capital markets and will house brokerage and trading firms, quality retail outlets and cafes, as well as other leisure facilities.
Commenting on partnering with BFH, Mr Firas Mallah, Head of Dexia Asset Management Middle East Office , said:
“It is a well known fact that Bahrain is one of the fastest growing economies in the Middle East. We were looking at entering this market for quite some time and had been assessing various locations that would ideally suit our varied business requirements. We found that BFH was an ideal location for us. We believe that the BFH premises are an ideal location for the development of our business plans for Bahrain and the GCC region. "
Dexia AM is the asset management centre for the Dexia financial group and specialises in financial analysis, fund management and management of institutional and private mandates. As a first class European asset manager, Dexia AM manages some 105 billion euros of assets (as of end December 2006) spread over a wide range of investment competences: traditional management, alternative management and sustainable and responsible investments. Dexia AM has management centres in Brussels, Luxembourg, Paris and Sydney and marketing teams in Belgium, France, Luxembourg, the Netherlands, Switzerland, Italy, Spain, Scandinavia, Germany, Austria, Australia and Bahrain.
The company holds leading positions in specific areas such as alternative investment management and socially responsible investment funds
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