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Press Release
Swiss banking major BSI SA (Generali) to start operations from BFH
Manama, Bahrain, 14 June, 2009: BSI SA (Generali), the highly respected Swiss bank specialising in asset management and related services for private and institutional clients, will commence operations from the landmark US$3 billion Bahrain Financial Harbour (BFH) complex this August. Founded in 1873, BSI AG is among the top 10 Swiss private banks and the oldest bank in the Swiss canton of Ticino. The Generali Group, one of the world's largest insurance companies, became the sole shareholder of BSI SA in 1998.BSI SA will occupy part of the 14th floor in the West Tower of BFH's Financial Centre.
BSI SA's highly experienced team of investment fund managers provides its clients personalised advice and information on a range of products and services including discretionary management mandates, fund-based accumulation plans, investment funds, financial planning, corporate finance, mortgage services, alternative investments, structured products, insurance products, art investments and other ancillary services. It currently has over CHF 78.2 billion worth of assets under its management.
Welcoming the venerable Swiss bank to BFH, Mr. Eric Fotiadis, Chief Development & Coordination Officer, BFHHC said, "BSI has been advising clients for over 130 years and has a strong presence in Switzerland and around the world - in London, Paris, Milan, Hong Kong, Singapore and Monaco. We are delighted that it has chosen Bahrain as its gateway to the Middle East market and opted to locate at BFH, which is consolidating its position as the financial hub of the region. Having partnered with many world renowned financial players, we are confident that BFH will act as a catalyst in advancing BSI's business agenda and goals."
Mr. Saad Osseiran, Managing Director & First Vice President, BSI SA, said, "It is a logical step for us to establish our operational base in the Middle East at BFH, considering the unique business model and unrivalled infrastructure the financial complex offers.. BFH has always been highly successful in attracting a myriad of leading global financial institutions to its precincts and we have every reason to believe its work environment will provide the ideal setting to explore new opportunities that will help us progress within the Bahraini market. In addition, we are optimistic that the Kingdom's sound regulatory framework and dynamism will facilitate the launch of our ambitious plans for the Middle East region. We certainly look forward to embarking on this fruitful partnership and commencing operations from our new base. "
The Generali Group, of which BSI became a part in 1998, has a presence in more than 40 countries and has consolidated its position among the world's major insurance groups.
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