Dexia AM expands into the Middle East

13th December 2006
By Julia Chan

Dexia Asset Management, a subsidiary of the Belgian-French financial institution Dexia Group, has established an office in Bahrain, a move that will support its current growth strategy in the Middle East.

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The new establishment covers nine countries - Lebanon, Jordan, Egypt and the Gulf Cooperation Council, which comprises Saudi Arabia, Bahrain, the United Arab Emirates, Kuwait, Oman and Qatar.

Dexia Asset Management (Dexia AM) is a dominant player in Europe, holding E103 billion in assets under management, as at October 31, 2006.

"After recently opening our branches in Scandinavia and in Germany, we are confirming our strategy of expansion and our wish to grow towards the Middle East. The Kingdom of Bahrain is an ideal platform on which to develop our regional presence," commented Henri-Michel Tranchimand, a member of the executive committee of Dexia AM.

Firas Mallah, has been appointed head of the Middle East office to assist in the development of the growth activity in the region.

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