29 October 2016

Dubai, UAE – Dubai International Financial Centre (DIFC), the global financial services hub connecting businesses and institutions with emerging market opportunities across the Middle East, Africa and South Asia (MEASA) region, today announces the addition of Geneva-based Pictet Asset Management, a leading asset management company for institutional clients.

A subsidiary of the Pictet Group, Pictet Asset Management has operated in the UAE since 2007 serving institutional clients across the region. The Pictet Group has a global presence with 26 representative offices, subsidiaries and branches in financial centres around the world. Headquartered in Geneva since inception in 1805, the Group includes custodian banks in Geneva, Luxembourg, London, Frankfurt, Madrid, Paris, Nassau, Hong Kong and Singapore.

On this occasion, Arif Amiri, Chief Executive Officer of DIFC Authority, said: “We are pleased to welcome one of the most established and respected asset managers to DIFC’s business community. This marks another step in the Centre’s 2024 growth strategy to develop the financial hub as a destination of choice for asset management services across the entire Middle East, Africa and South Asian region, the fastest growing in the world. DIFC offers a geographically attractive platform, underpinned by an internationally benchmarked regulatory and legal system, and it enables investors to tap into key emerging markets.”

Francesco Genovese, Head of Middle East & Africa, Central Asia and Frontier Markets, at Pictet Asset Management, said: “Our move to DIFC is a testament to our strong growth in the region and our confidence in the Centre as a key enabler in connecting businesses and financial institutions with emerging opportunities across the MEASA region. Our clients will significantly benefit from DIFC’s geographical location and we look forward to growing our asset management portfolio further.”

He added: “Managing assets for institutional clients is our exclusive focus and we bring this formidable experience to DIFC. We currently manage US$159 billion in assets, invested in equity and bond markets worldwide. We have 17 business development centres globally and our office at DIFC will further bolster this growth through providing new opportunities for expansion.”  

DIFC continues to play a pivotal role in meeting the growing financial services needs of the region and serves as an ideal destination for international businesses.  

-Ends- 

About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. The growth strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing Africa, Southern Asia and Latin America.

Currently, 1,445 active registered companies operate from the Centre, with a combined workforce of 19,808 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3.0 billion and nominal GDP of US$7.8 trillion.

For further information, please visit our website: www.difc.ae, or follow us on Twitter @DIFC.

About the Pictet Group
The Pictet Group is a partnership of six owner managers. It offers only wealth management, asset management and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans. With more than USD 448 billion in assets under management or custody at 30 June 2016, Pictet is today one of the leading Europe-based independent wealth and asset managers. The Group's principles of succession and transmission of ownership have remained unchanged since foundation in 1805.

Headquartered in Geneva, Switzerland and founded there in 1805, Pictet today employs more than 3,900 people. It has 26 offices in: Amsterdam, Barcelona, Basel, Brussels, Dubai, Frankfurt, Geneva, Hong Kong, Lausanne, London, Luxembourg, Madrid, Milan, Montreal, Munich, Nassau, Osaka, Paris, Rome, Singapore, Taipei, Tel Aviv, Tokyo, Turin, Verona and Zurich.

About Pictet Asset Management
Pictet Asset Management is a specialist asset manager offering investment solutions and services to investors around the world. Today we manage USD 159 billion of assets across a broad range of equity, fixed income, alternatives and multi-asset strategies.

Our clients include some of the world’s largest pension funds, sovereign wealth funds and financial institutions. We have 790 employees spread across 17 offices worldwide including 7 investment centres (Geneva, Zurich, London, Milan, Singapore, Tokyo and Hong Kong).

For media enquiries, please contact:
Hajar Al Ketbi
Dubai International Financial Centre Authority
Vice President - Public Relations & Corporate Communications
Tel: +971 4 362 2440
Email:    Hajar.Alketbi@difc.ae  

Magdalena Stepien
APCO Worldwide 
Senior Account Director
Mobile:   +971 (0) 56 114 2948
Email:    mstepien@apocworldwide.com  

For any additional information, please contact:
Dyuti Laura Daeppen
The Pictet Group
+41 58 323 1344
ddaeppen@pictet.com

Tasha Young
Brunswick Gulf
+97 14 3751338
tyoung@brunswickgroup.com  

© Press Release 2016