Wells Fargo opens new international branch in DIFC

The new branch will help to expand the company's existing GFI services, which include trade, payments, deposits, credit and foreign exchange services to financial institutions in the Middle East and North Africa (MENA) region.

"Wells Fargo has operated in the MENA region for more than 15 years and we intend to strengthen our presence and capabilities to best serve our GFI customers," said Charles Silverman, head of Wells Fargo's GFI business.

"With our new location in the DIFC, we can provide our GFI customers in the region with an expanded range of products and services."

Currently, Wells Fargo has 12 team members in the new branch office, which is managed by Shoar Hassan, senior executive officer and regional manager, and is located in the Gate Village at DIFC. Known as the region's leading financial center, the DIFC serves as the regional headquarters for many global companies and financial institutions.

"We are pleased to welcome Wells Fargo to DIFC and look forward to supporting the company's mission to expand its offering in the Middle East and North Africa," said Jeffrey Singer, CEO of DIFC Authority.

"Not only does the addition of such a well-established global name to our client portfolio reinforce Dubai's position as a leading business hub, providing accessibility and connectivity to surrounding markets, but also shows recognition of the potential opportunities within the region."

Operating from more than 35 global locations, Wells Fargo's International Group now has branch offices in Cayman Islands, Dubai International Financial Centre, Hong Kong, London, Seoul, Shanghai, Singapore, Taipei, Toronto and Tokyo.