Basel - Switzerland, 25 February 2008
Bank Sarasin has obtained a banking license for Qatar and will open a new subsidiary in the Qatar Financial Centre (QFC), Doha. The new subsidiary, will be starting business operations as early as mid March 2008 under the name Bank Sarasin-Alpen (Qatar) LLC and will be regulated by the Qatar Financial Centre Regulatory Authority (QFCRA). The license enables Bank Sarasin to provide its array of high quality financial services to private and institutional clients in Qatar, comprising the areas of private banking as well as asset and wealth management. The opening of the Bank Sarasin office in Doha is the latest milestone on its growth path in the Middle East.
The Qatar operations will be launched with experienced professionals, ensuring an immediate high calibre point of access to clients in Qatar and its surrounding countries. The new subsidiary will further leverage the capabilities developed successfully at Bank Sarasin-Alpen (ME) Ltd., the bank's subsidiary in Dubai. Bank Sarasin-Alpen (ME) Ltd. provides tailor-made and innovative private banking services at its best to clients in the region. The Private Banking services of Bank Sarasin-Alpen (Qatar) LLC, will leverage the Investment Banking business of Alpen Investment Bank (Qatar) LLC, also regulated by the QFCRA, to further enhance the joint venture's market offerings. Alpen Capital (ME) Ltd., Dubai has established an excellent track record in providing investment banking solutions to institutional and Corporate clients in the GCC and South Asia.
Qatar: Extending the Reach of a Successful Venture
"We are delighted to have obtained the banking license from the Qatar Financial Centre authorities. Sarasin regards Qatar as a very attractive growth market in this dynamic region of the world. The license provides the much needed framework to be able to extend our services into that market," comments Fidelis Goetz, Head of the International Division of Bank Sarasin & Co. Ltd, Switzerland.
"We are excited to now be able to offer our uniquely client focused services to clients in Qatar. Our proven track record creating innovative solutions for our discerning client base will certainly be a valuable addition to the growing importance of the dynamic market place of Qatar. We will continue to deploy our successful strategy of leveraging the Investment Banking platform to complement Private Banking services," adds Rohit Walia, CEO and Managing Director of Bank Sarasin-Alpen (ME) Ltd.
Bank Sarasin-Alpen (ME) Ltd and Bank Sarasin-Alpen (Qatar) LLC - Responsibly Yours - http://www.sarasin-alpen.com
Bank Sarasin-Alpen is incorporated as Bank Sarasin-Alpen (ME) Limited in Dubai with offices in the DIFC (Dubai International Financial Center) and in Qatar as Bank Sarasin-Alpen (Qatar) LLC with offices in the Qatar Financial Centre Tower (QFCT). Both subsidiaries of Bank Sarasin, Switzerland provide the complete range of Bank Sarasin's private banking services. Apart from UAE and Qatar the bank caters to the requirements of private & institutional clients in the Middle East & South Asia.
Bank Sarasin & Co. Ltd - Responsibly Yours - http://www.sarasin.com
Founded in 1841, Bank Sarasin is today one of Switzerland's leading private banking institutions. Its sustainable success is based on trust, confidentiality, expertise and dedication. Bank Sarasin's core activities include investment advisory and asset management services for private and institutional clients, as well as an investment funds business. Its complementary services extend to corporate finance and financial analysis. The Sarasin Group - headquartered in Basel, Switzerland - employs over 1,100 staff. In addition to its headquarters in Basel, the Bank has offices in Zurich, Geneva and Lugano in Switzerland. Internationally, the Sarasin Group has offices in Bahrain, Dubai, Frankfurt, Guernsey, Hong Kong, London, Munich, Paris, Qatar and Singapore. Bank Sarasin is a limited company. Its shares are listed on the Swiss Stock Exchange, SWX. Its majority shareholder, Rabobank, enjoys the highest qualification of credit status (triple-A rating) from prominent international rating agencies. Measured by its core capital, Rabobank is one of the world's top twenty financial institutions.