Bank Sarasin-Alpen opens at DIFC

BSA is a joint venture between Bank Sarasin & Co. Ltd, one of Switzerland's top private banks, and Alpen Capital Corporation, a UAE-based corporate consultancy firm.

Peter Merian, CEO of Bank Sarasin, said the regions strong economies, ambitious development projects and enhanced regulatory frameworks - such as the DFSA - will spur rapid economic growth and wealth creation.

"Swiss private banks continue to lead the world in wealth management, managing CHF3,000 billion (Dh9,250 billion) of assets and having a market share of more than a third in cross border private banking," said Merian.

"Our aim is to provide the same service to customers in the Middle East based on a banking culture that has underpinned Bank Sarasin's growth for more than 160 years," Merian said.

Established in 1841 and listed on the Swiss Stock Exchange, Bank Sarasin is 28 per cent owned by Rabobank, the world's only AAA rated non-government owned bank.

Of the Global Fusion concert to commemorate the bank's opening, Merian said: "It is a part of our tradition to support culture and music, so we wanted to share this unique occasion with the people of the emirates. Just as these three maestros create harmony from musical diversity, our aim is to create a similar bridge between East and West in the financial world."

The Global Fusion concert was conceptualized by Subramaniam, India's and one of the world's greatest concert violinists and composers, as a mélange of eastern and western musical traditions.