Dresdner Bank opens subsidiary in Dubai

The newly established subsidiary in Dubai will in future offer high net worth private clients access to the Dresdner Bank Group's services and products in the area of Private Wealth Management.

In June 2008, Dresdner Bank received its license from the relevant supervisory authority at the Dubai International Financial Centre (DIFC). The Bank is regulated by Dubai Financial Services Authority (DFSA).

Dresdner Bank has had a representative office for corporate clients and financial institutions in Dubai since 1995. Owing to the high growth rates in Private Wealth Management, the United Arab Emirates are regarded as one of the region's key future markets. Nigel Putt heads the subsidiary in Dubai as Senior Executive Officer. Anton Simonet, Dresdner Bank's Global Head Private Wealth Management holds the position of Chairman. The Bank currently has 10 employees in Dubai.

"Our presence in Dubai will significantly expand our market position in the Near and Middle East. We offer our clients in this region advantages due to our integrated advisory strategy with product and financial solutions from Allianz and Dresdner Bank," said Nigel Putt on the occasion of the opening.

In addition, the Bank gives its clients access to the European capital markets and offers expertise in banking and insurance products. Its offering also comprises two of the Group's own Sharia-compliant investment funds, which were specially launched due to the high demand in the region.

The goal is to establish Dresdner Bank Dubai as a market leader for high net worth clients in the Middle and Near East.

Supporting Nigel in DBDL's office is a first-class team of senior private bankers. Robert Mankelow, Ashraf al-Yamani, Danish Chotani and Hilmar Oschmann bring an unrivalled and complementary skill set to the Dresdner platform.

Dresdner Bank AG manages assets totalling around €130 billion and is ranked second in Germany's Private Banking segment.

Dresdner Bank (DIFC) supports auction by Bonhams

To celebrate the opening of its office in Dubai, Dresdner Bank is supporting Bonhams second Middle East auction of contemporary Arabic, Iranian and Pakistani art, being held at the One & Only Royal Mirage Hotel at 7pm on 24 November 2008. Works by Anish Kapoor, Sohrab Sepehri and prominent Emirati artist Abdul Kadir Al-Rais will be highlights of the auction.

Dresdner Bank has also launched a new international scholarship programme for young artists entitled "Fasten your seatbelts" together with the Dubai Culture & Arts Authority, the City of Frankfurt and the Städel School of Fine Arts in Frankfurt. On 15 November 2008, two up-and-coming artists from the Städel School - Matthias Scholten and Hannes Michanek - moved to Dubai for six months to work on their art projects. In return, two artists from Dubai will have the opportunity to visit Germany in spring 2009.