T. Rowe Price has opened a representative Office in the Dubai International Financial Centre (DIFC) in response to growing demand from clients based in the Middle East.
Marwan Ahmad Lutfi, deputy CEO and head of business development of DIFC Authority said: “T. Rowe price will be able to use the DIFC as a platform to take advantage of the region’s rapidly increasing demand for specialised financial services. The DIFC, with its modern infrastructure, free zone status and self-governing laws and courts, is globally recognised as the preeminent and favoured financial centre in the region.”
The American investment manager appointed Pieter Hendriks director, business development executive – Middle East and Africa and is the principal representative for the new office.
Hendriks will be a contact point for the existing clients the firm built up in the Middle East over the past seven years and will develop new relationships with clients and prospects throughout the region. Potential clients include sovereign wealth funds, other public entities, pension funds endowments, corporates, financial institutions and family offices.
Peter Preisler, head of Europe, the Middle East and Africa, said: “Having a local presence reflects our strong commitment to serving institutional clients in the region, offering the advantage of a better understanding of the environment and local preferences. Pieter brings strong technical competence and an institutional approach that is consistent with our culture.”
©2011 funds europe
