Clariden Leu opens representative office in Abu Dhabi

The private bank Clariden Leu yesterday opened a licensed representative office in Abu Dhabi in the presence of CEO Hans Nützi and many prominent local guests. This will provide local private banking clients with access to exclusive asset management services via Zurich and Singapore.

This step also highlights the importance of the Middle East to the Zurich bank's growth strategy. Clariden Leu has been represented in Dubai by its asset management company since 2007. There has also been a representative office in Cairo since 2008.

Explaining the move, Hans Nützi, CEO of Clariden Leu, said, "Our presence in Abu Dhabi will help us to provide faster and more customized solutions to meet the needs of our Middle Eastern clients in the future. We are glad to continuously underline our experience and our competence in this dynamic economic environment."

Daniel Savary, Head of Middle East and Africa, believes the opening of the representative office in Abu Dhabi is perfectly timed: "The turbulent times in the global financial markets have resulted in highly individual client requirements. It is vitally important to ensure that we are a strong contact partner locally."