Neue Privat Bank (NPB), one of the largest Swiss-based investment banks, has opened its first international office and Gulf headquarter (HQ) in Abu Dhabi Global Market (ADGM), the marquee international financial center (IFC) in the emirates.
NPB, a comparatively small Swiss private bank, operates through a network of global managers who invest across asset classes including equities, debt, convertible instruments, private equity and real estate investments.
The autonomous and independent Swiss private bank, NPB’s Middle East division is a joint venture between the NPB and Almha, an investment company.
As an IFC and global business enabler, ADGM has been recognized as a strategic nexus of the global economies, offering the ideal business location and advantageous timezone for companies, financial institutions, entrepreneurs and investors to access high-growth opportunities and achieve their business goals.
“We welcome Neue Privat Bank to the ADGM’s expanding family of financial institutions and investment firms. As NPB’s business partner of choice and preferred IFC, ADGM looks forward to supporting the bank in its global growth strategies and serving as NPB’s GCC hub for business and financial services and client servicing activities. ADGM has long established a competitive niche in being one of the most attractive, accessible and innovative centers that offer unique financial solutions and world-class investment services. The launch of NPB further reinforces Abu Dhabi and ADGM’s strategic advantage as a global investment hub and cutting-edge financial ecosystem.”
Mr. Peter Albinsson, Private Banking International /UHNWI and Member of the Executive Board, NPB, remarked that, “NPB looks forward to bringing our experience and expertise to the UAE, the second-largest Arab economy, which is becoming an increasingly attractive market for private wealth management. We are pleased to anchor our first Middle East and Africa base with ADGM as this will serve as a strategic hub for NPB to cater effectively to the evolving needs of our customers in the UAE and across the region.”
The second-largest Arab economy is becoming an increasingly attractive market for global wealth managers looking to compete with local, regional and international lenders, who are also boosting their services for affluent clients. A number of international and Swiss banks including HSBC, BNP Paribas, Mirabaud and Lombard Odier are already present in the UAE.
Currently, ADGM is an abode to more than 3,700 registered entities, comprising some of the region’s and world’s financial institutions, banks, investment firms, fund management companies, treasury centers, corporations, energy companies, technology firms, tech startups, corporate and professional services and other businesses.