Union Bancaire Privée will target high-net worth individuals

At a press conference held by UBP today, representatives from UBP's senior management said that private investors' increasing activity in Qatar coupled with a booming economy means UBP asset allocation services are well suited to the investment requirements of Qatar's high-net worth individuals.

With its headquarters in Geneva, UBP is recognised as one of the most strongly capitalised banks in Switzerland and the largest-family owned private bank in the world. As part of UBP's expansion in key areas, such as the Middle East, the Bank will open its office, UBP (Qatar) LLC, at the Qatar Financial in Qatar in early 2007.

"UBP provides asset allocation services and products, which span traditional investments, structured products, and alternative investments, for private and institutional clients. Due to the current investment climate in Qatar, UBP Qatar is expecting a high level of demand from private individuals. UBP Qatar plans to facilitate and grow Qatar's private investors' interest in alternative investment opportunities, such as those offered by the UBP Group,"

said George Azar, Middle East Regional Manager for UBP and Managing Director of UBP (Qatar) LLC.

As part of the official inauguration of UBP's Qatar office, Geneva-based senior management were also in Doha today to outline the Bank's investment products.

Daniel de Picciotto, Member of the Executive Committee of UBP and Chairman of UBP (Qatar) LLC, the newly created entity said UBP will offer clients in Qatar a range of products, including hedge funds.

"Today, with over USD30 billion invested in hedge funds, we are the world's second-largest provider of hedge fund investments, according to a ranking established last September by the renowned publication, InvestHedge. We have a team of more than 100 specialists, who are devoted entirely to researching, selecting and managing hedge funds. Furthermore, we apply the same investment approach to other asset classes," de Picciotto said.

Azar explained: "Clients in Qatar will find UBP's products and services relevant and attractive due to the range of investment options we offer. We will also be maintaining a commitment to personal client servicing with UBP's full-time team on the ground in Qatar and my own open door policy combined with the global resources of UBP's network."

With a presence in Dubai since 1998, UBP has chosen Qatar as the location to launch its second office in the Middle East due to the country's impressive economic growth and the government's commitment to a diversified economy.

"The visionary thinking of His Highness, the Emir, Sheikh Hamad Bin Khalifa Al Thani, has ensured Qatar's growth for the coming years and has fostered the development of a diversified economy, through dedication to the advancement of the country's economic, political and social institutions.

"The central issue and driving factor behind our decision to extend our presence in Qatar is that we enthusiastically share in the vision of His Highness and have every confidence that Qatar's economic growth story is only just beginning," Azar said.

As part of the official inauguration, UBP will host a gala dinner Friday night for the business and financial community, which will be attended by the Bank's founder and Chairman Edgar de Picciotto.

UBP has a strong international presence through a network of branches, subsidiaries and representative offices in close to 20 locations. It employs almost 1,200 people and assets under management amounted to USD83 billion at the end of June 2006.