Fortis says its Merchant Banking business has opened a branch office in the Dubai International Financial Centre (‘DIFC’). The branch will be a front office operation providing a range of financial services to clients active in the Middle East.
They will include Commodity Finance, Institutional Banking, Export and Project Finance. Lending and back office operations will be provided by Fortis in Europe. The office will also provide access to a wider range of Fortis Merchant Banking services on a referral basis.
“The opening of this Merchant Banking branch is fully in line with our strategy of going global in specialised areas where we have developed a strong leadership position as well as recognised skills and expertise,” says Filip Dierckx, the CEO of Fortis Merchant Banking. “The DIFC is a dynamic financial centre in the Middle East, and reinforcing our presence there will enable us to serve our customers even better.”
“Fortis is a welcome addition to the DIFC’s leading list of international financial institutions,” adds Assem O. Kabesh, the Chief Business Development Officer and Board Member at the DIFC. “Demand for wholesale financial services in the region continues to grow, providing Fortis with a deep market in which to grow its business”.