IslamicFinance.de

Andrew White reported in Arabian Business on 11 April about Swiss banks going onshore in the Middle East.

Pasha Bakhtiar, managing director at Lombard Odier Darier Hentsch (LODH) focusses over the next 10 to 20 years to grow the presence in areas with strong wealth creation, which is the case in the Middle East. Last year the bank established a formal presence in Dubai to better offer its services to existing and new clients in the GCC. Lombard sees an advantage in being a family owned bank like the family businesses in the region.

Hans Nützi, CEO at Clariden Leu agrees that Private Banking becomes more international opposed the way clients banked 5 to 10 years ago. Clariden Leu has a local 13 people asset management team in Dubai and sees demand for structured products.

http://www.arabianbusiness.com/516200-banking-on-the-old-school

Andrew England and David Oakley wrote a short briefing on 30 March in the Financial Times about a new Islamic private bank planned in Switzerland. National Bank of Kuwait is supposedly partnering with a Saudi-Arabian institution.

Source: http://www.ft.com/cms/s/9bbfce9e-fe8c-11dc-9e04-000077b07658,Authorised=...