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Dexia Private Bank to locate its operations at Bahrain Financial Harbour
o European Banking Major signs Agreement with Bahrain Financial Harbour Holding Company (BFHHC) to occupy 23rd floor in the West Towers in the Financial CentreManama, Bahrain, 08 January, 2008: Bahrain Financial Harbour Holding Company (BFHHC) today announced that Switzerland-based, Dexia Private Bank (Switzerland), a leading provider of financial services, will be locating its operations in Bahrain Financial Harbour (BFH). As per the tenancy agreement, Dexia Private Bank (Switzerland) has committed to uptake of an area of over 413.6 sqm on the 23rd floor of the West Towers in the Financial Centre.
Commenting on the agreement with Dexia Private Bank (Switzerland), Mr. Stephen Rothel, Chief Executive Officer, BFHHC, said: "Recently we signed the tenancy agreement with Dexia Asset Management and now it is our pleasure that Dexia Private Bank (Switzerland) has decided to join our rapidly growing financial services based roster of esteemed clientele. Dexia Private Bank's move is one of the several indications in recent times that BFH is attracting not just regional players but also global leaders. We welcome Dexia Private Bank's decision to commence its operations in the region through BFH and are upbeat that the development will provide unparalleled benefits to the Bank."
Dexia Private Bank (Switzerland) has grown out of a tradition with roots reaching right to the heart of Europe in 1856. With over 70 years of experience in Switzerland, Dexia Private Bank (Switzerland) is present in all the important business centres in Switzerland such as Geneva, Zurich, Basel and Lugano. As an international Bank Dexia Private Bank (Switzerland) offer their clients also financial services in Monte Carlo, Luxembourg, Belgium, Denmark, Jersey, Spain, Turkey and Uruguay. As a subsidiary of Dexia Banque Internationale à Luxembourg, Dexia Private Bank (Switzerland) belongs to the well-known European banking group of Dexia which is AA+ rated with 35'000 employees.
The Bank's core lines of business cover Wealth Management, Advisory Agreement, Equity trading advice, Structured products, Equity, fixed income and alternative
investment funds, Traditional banking services, Wealth Planning & Financial Services and Servicing Independent Asset Managers. Dexia has also a well-deserved reputation for global leadership in public finance.
Commenting on partnering with BFH, Mr. Markus Hermanek, Senior Vice-President, Head of the Middle East Branch in Bahrain, Dexia Private Bank (Switzerland) said: "Bahrain is without doubt the most promising financial hub in the Middle East region and we strongly believe that Bahrain Financial Harbour is the focal point and a perfect platform for all financial sector firms wanting to establish their presence in the region. Because of the world-class standards and the unique advantages it offers, BFH was our first choice while making our foray into the Middle East. Additionally our extensive market research findings have supported this decision. In order to meet our clients high expectations, we are delighted to be a part of the BFH."
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Note to the editor
About Bahrain Financial Harbour
A fully integrated, master-planned development, the US$ 3 billion Bahrain Financial Harbour (BFH), is aimed at creating a complete financial city, a self contained community and reinforcing Bahrain's unsurpassed position as the financial capital of the Middle East. A first of its kind development in the region, BFH is a highly focused, committed and advanced financial environment spread over 380,000 square metres of prime seafront property in the centre of Manama, Kingdom of Bahrain. Furthermore, it comprises of 10 projects that uniquely combines business, leisure and residential components under one canopy. Phase I of the project ‘The Financial Centre' which includes the Harbour Towers - Bahrain's tallest towers and the Harbour Mall. The Financial Centre is operational and open for business.
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