Sovereign Asset Management opens office in Dubai

The new office in Dubai brings Sovereign closer to the world's fastest growing economies in Asia, and also better positions the company to further understand the increasing influence of energy markets on the global economy. In addition, Sovereign's move highlights the strength of Dubai as a world-class business and investment centre.

Chief Executive James Fitter said: "Opening an office in Dubai makes sense for Sovereign in a number of ways. Very practically it brings us closer to Asian markets where we have significant interests and it places us within a key centre for energy markets. Investing in operations in Dubai also enables us to make a contribution to the success of the Dubai International Financial Centre which itself is an emerging financial centre in the heart of a region of growing importance.

"The Dubai government's exemplary vision of a modern, transparent and entrepreneurial economy in an environment of creative freedom is inspiring the development not only of the DIFC, but also of Dubai itself, and is very much in keeping with the values of our organisation."

Sovereign's new office is a response to HH Sheikh Mohammed bin Rashid Al Maktoum's initiative to create a world-class financial centre, where transparency, the rule of law and a level playing field for international business are respected and encouraged.

James Fitter added, "We are delighted to be here, assisting in the development of the capital markets in the Middle East, a process which is fundamental to accelerating the economic growth and increased standards of living of an important region with a rapidly growing population."