Investec, an international bank and wealth manager, has established a location in Dubai International Financial Centre (DIFC), the main global financial centre in the Middle East, Africa, and South Asia region.

This development broadens its unique service to the Gulf region.

The Gulf Cooperation Council (GCC) financial institutions, family offices, and high-net-worth individuals are connected to the DIFC office for advisory and organising services in corporate and investment banking, wealth and investment management, and private banking.

The new site will benefit from Investec's improved Swiss services, which are based on the company's group resources, investment procedures, and Swiss banking history.

The Investec Group is present in the USA, Ireland, the Channel Islands, Mauritius, India, and continental Europe in addition to its two major regions of operation, South Africa, and the United Kingdom.

By opening an office in the DIFC, Investec is able to provide its clients with greater proximity and access to a wide range of global capabilities and knowledge.

In terms of guiding and reshaping the financial industry, DIFC is essential.

With its advantageous location and business-friendly legislative and regulatory environments, DIFC offers Investec a strong basis on which to grow and provide to an array of clientele.

Currently, the centre is home to over 6,000 businesses, comprising over 230 banks, 27 of the top 29 globally systemically important banks, and more than 400 of wealth and asset managers in the world.

Cumesh Moodliar, CEO of Investec Bank Limited stated: “We see a sustained emergence of high-net-worth individuals in Dubai and the Gulf as the region offers connectivity, quality services and growth opportunities for domestic and international companies. This reflects the increasing importance of the region for the global economy and the ambitious growth agenda of these markets. We are following our clients into this high growth market with personalised private banking and wealth management services as well as access to our corporate and investment banking capabilities.”

Salmaan Jaffery, chief business development officer, DIFC Authority, added: “We are delighted to welcome Investec to DIFC and Dubai. DIFC’s world-class business ecosystem, legal and regulatory framework and world-class infrastructure continues to attract financial institutions looking to access deep pools of wealth from family offices, sovereign funds, and ultra-high-net-worth individuals. By establishing in DIFC, Investec can use Dubai as a gateway to more than USD 3trn of private wealth within an hour’s flight.”