27 Nov 2006
Doha: Swiss asset management bank Union Bancaire Priv?e (UBP) inaugurated its Qatar office on Thursday and announced plans to target Qatar's high-net worth individuals.
Representatives from UBP's senior management said that private investors' increasing activity in Qatar coupled with a booming economy means UBP asset allocation services are well suited to the investment requirements of Qatar's high-net worth individuals.
"Due to the current investment climate in Qatar, UBP Qatar is expecting a high level of demand from private individuals. UBP Qatar plans to facilitate and grow Qatar's private investors' interest in alternative investment opportunities, such as those offered by the UBP Group," said George Azar, Middle East Regional Manager for UBP and Managing Director of UBP Qatar LLC.
Azar said UBP has chosen Qatar as the location to launch its second office in the Middle East due to the country's impressive economic growth and the government's commitment to a diversified economy.
According to the International Monetary Fund's projection of last July, Qatar's gross domestic product will double by 2011, he said.
Specialists
Daniel de Picciotto, Member of the Executive Committee of UBP and Chairman of UBP Qatar LLC, said UBP will offer clients in Qatar a range of products, including hedge funds.
"Today, with over $30 billion invested in hedge funds, we are the world's second-largest provider of hedge fund investments, according to a ranking established last September by the renowned publication, InvestHedge. We have a team of more than 100 specialists, who are devoted entirely to researching, selecting and managing hedge funds. Furthermore, we apply the same investment approach to other asset classes."
By Staff Reporter
Gulf News 2006. All rights reserved.
