Salman Ahmed

'What appealed to me most about Ansbacher is its professional approach. We feel that solutions should be tailored to the needs of the client and, consequently, spend time establishing what those needs are before recommending anything.' says newly appointed Managing Director Salman Ahmed, a former PricewaterhouseCoopers partner with a long track record in the Middle East.

The principal target market for Ansbacher Middle East - which was awarded its Dubai International Financial Centre license earlier this month - is the high net worth individual with more than $1 million to invest, and institutions looking after $50 million plus.

'These are reasonable levels for the sort of tailored service that we offer,' says Mr. Ahmed. 'Individuals get access to the full resources of the bank, including our own Internet banking platform, advice on Wealth Management and the ability to have financial products tailor-made for them.'

Ansbacher is able to offer an overdraft account type of mortgage for customers who want to buy property in the UK and France, and can structure trusts and appropriate vehicles to hold these and other assets. There is even a specialist lending option for 30-metre plus super-yachts, and a yacht administration services division run out of Guernsey.

Succession planning and family business advisory services are also high on the agenda for the Middle East.

'We are presently looking into certain Middle East equity funds - this is something that we would very much like to do,' says Mr. Ahmed. 'Our parent Qatar National Bank is developing its network and is already a force to be reckoned with in the Gulf. Ansbacher is managed on an independent basis and the decision to set up in the region was taken before the acquisition of Ansbacher, which received regulatory approval last month.

'For institutions, we have fiduciary support for major Islamic and conventional transactions with an in-house lawyer based in Dubai. In London, we have developed fund administration services and have become a leading player in the administration of private equity funds'.

'One of the attractions of the DIFC is the ability to get close to new potential institutional clients in the kind of regulatory framework that both they and we find comfortable. It is the same with our high net worth clients - we are now able to offer a service on-the-spot that they previously needed to travel to London to obtain.'

When with PricewaterhouseCoopers Mr. Ahmed spent a good deal of his time working with regional regulators, and he expresses admiration for the way the DFSA handled Ansbacher's application process. He felt the process was very professional and comprehensive and thinks that it bodes well for the future of financial services within the DIFC as well as Ansbacher Middle East.