Posted by Neil King
Baring Asset Management (Barings), a leading international investment management firm, has opened a new representative office in Dubai in response to growing demand from clients based in the Middle East.
In a statement, Barings said the opening followed the recent award of a representative office license by the Dubai International Financial Centre (DIFC).
Rob Lay, head of the MENA region for Barings, said that the new office was a natural progression for the company's activity in the Middle East.
"It demonstrates our commitment to these markets and our desire to build on the many valued relationships that we have throughout the region," he added.
"We believe that establishing an office in the DIFC will be a very effective way to achieve our objectives and thank the DIFC for granting our licence."
Launched in 2004, the DIFC has established a current client base of 745 firms which have registered at the centre, including 16 of the world's largest 20 banking institutions.