Dubai Joins Other Global Financial Centres in Hosting SunGard City Days Event |
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Emerging market financial centres such as DIFCDIFC
will contribute to an increasingly multilateral global financial system, DIFC AuthorityDIFC Authority CEO Abdulla Mohammed Al Awar says during keynote address Dubai, 24 November 2009: Dubai yesterday joined 12 other global financial centres in hosting the SunGardSunGard Dubai City Day conference, which explored the question, "What Happens Next?" and featured a keynote address by Abdulla Mohammed Al Awar, Chief Executive Officer of the Dubai International Financial Centre AuthorityDubai International Financial Centre Authority. During his address at the event, organised by SunGard Financial Systems Middle EastSunGard Financial Systems Middle East, Al Awar said that the increasingly multilateral international financial system and the shifting east of the global economic centre of gravity will lift up new financial centres to the level of London and New York.
Following Al Awar's keynote address, the conference split into five parallel tracks covering "What Happens Next?" in the areas of trading & risk, banking, corporate liquidity management, asset management in the Middle East, and risk management. Each track included a number of panel discussions, Q&A sessions and presentations on the breakout topic, giving attendees an opportunity to focus deeply on their area of interest.
Other participants included a number of SunGardSunGard executives, and senior bankers, lawyers and consultants from Al Rajhi Bank, Bank Saudi Fransi, CCL Compliance Ltd, Cedar Management Consultancy, Commercial Bank of Dubai, DIFC AuthorityDIFC Authority, Emirates NBD Bank, Ernst & Young, Gulfmena Alternative Investments, Investit, King & Spaulding, NASDAQ Dubai, ODL Securities LLC, Saffar Group and Shuaa Securities.
More than 200 financial industry professionals attended the SunGardSunGard Dubai City Day conference, the final in a series of 13 events held during 2009 in leading financial centres such as Beijing, London, Mumbai, New York, Singapore and Zurich.
Al Awar said in his keynote address, "Emerging financial centres like DIFCDIFC will continue to grow in importance as the regions and markets that they serve become increasingly wealthy, sophisticated and significant to the global financial system."
Wissam Khoury, Managing Director of SunGard Middle EastSunGard Middle East, said, "We recognise that today we need to strike the right balance of pursuing growth opportunities in a very dynamic region while being cautious in how we manage a business in a market still addressing the effects of a stronger regulatory regime."
Added Khoury, who leads SunGardSunGard's regional operations from offices in DIFCDIFC, "Given the increasingly significant role that the Middle East region plays in the global financial system, we are pleased that the Dubai concludes this year's City Days."
The conference was an example of comments made just days earlier by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, when he said that the UAE will continue to work to be a place that encourages and foster meetings and summits of regional and international organisations.
SunGard Middle EastSunGard Middle East has its regional headquarters in the DIFCDIFC, from where it serves 70 financial institution clients.
-Ends-
About DIFC
The Dubai International Financial CentreDubai International Financial Centre (DIFCDIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just five years, over 850 firms have registered at DIFCDIFC. They operate in an open environment complemented with world-class regulations and standards. DIFCDIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
About SunGardSunGard Middle East
With annual revenue exceeding $5 billion, SunGardSunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGardSunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. For more information, please visit SunGardSunGard at www.sungard.com.
SunGardSunGard Financial Systems provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. The primary purpose of most of these systems is to automate the many specialized business processes associated with trading, managing investment portfolios and accounting for investment assets. They address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents. SunGardSunGard also provides consulting services that focus on implementation and integration of these solutions and on software development.
SunGardSunGard has 17,900 employees who work in 400 offices in 30 countries. It's corporate headquarters is located in Wayne, Pennsylvania. SunGardSunGard serves more than 25,000 customers in more than 70 countries, including the world's 25 largest financial services companies.
With an expanding footprint in the Middle East region, SunGard Middle EastSunGard Middle East headquarters in Dubai extends it's local support and implementation capabilities to a regional customer base of over 70
financial institutions. SunGardSunGard's regional office in the Dubai International Financial CentreDubai International Financial Centre, serves as a hub for all of the business development and project management of the regions' financial systems industry.
Every day, 800 banks in 70 countries rely on SunGardSunGard's Ambit to help them transform their business and discover new growth opportunities. Ambit helps them unlock the potential of their business and become the bank of the future. Ambit is a suite of solutions for retail, commercial and private banking, straight-through enterprise processing, treasury management, finance, risk and compliance.
DIFCDIFC Media Contacts:
Amira Abdulla
Director - Regional Public Relations
Dubai International Financial CentreDubai International Financial Centre
Tel: +971 4 362 2433
Email: amira.abdulla@difc.ae
Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432
E-mail: shaima.alzarouni@difc.ae
Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 50 2058021
E-mail: iman.ahmad@difc.ae
Sungard media contacts :
Reem Rabia
Marketing Manager
SunGardSunGard Financial Systems Middle East
Tel: +971 4 391 1189
E-mail: reem.rabia@sungard.com
© Press Release 2009
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