CEO of Mirabaud (Middle East) Limited speaks at Middle East Hedge Funds Conference 2008

Says private banks operating locally offer intimate knowledge of region's funds

Dubai, February 6, 2008: Gilles Rollet, Chief Executive Officer of Mirabaud (Middle East) Limited, sees an increased appetite among global investors for Middle Eastern funds. Rollet described his outlook for the hedge fund industry at this year's Middle East Hedge Funds Conference 2008 while involved in a panel discussion on private banking and hedge funds. He also commented on the private banking industry as a whole in the region, labeling it overcrowded but in need of real talent.

Rollet said: "Rather than seeing Western funds invest in the Middle East region, you will see Western money invest locally through people and institutions they trust and that have intimate knowledge of the market conditions here. Clients who wish to invest in this region want companies that give them the deepest understanding of the Middle East market's nuances and who apply international best practices in selecting managers and funds. We feel that we that's what we do best."

While agreeing with the common perception that Dubai is a nascent financial hub by global standards, Rollet feels that the outlook for the emirate is extremely positive. The region has yet to reach the level of sophistication of markets in the West and Far East, he said, but change is rapidly coming, and with it investors from those markets.

Rollet concluded: "We're seeing Dubai follow a Singapore model, becoming a regional hub for financial and banking services. It has several years to go before it reaches the level of Singapore, but it will eventually get there, probably within the next five to ten years. In the short term much work remains to be done, but in the long term, the sky's the limit."

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About Mirabaud
Mirabaud & Cie, banquiers privés, was founded in Geneva in 1819. Originally a bank operating solely in Switzerland, Mirabaud has since developed its brand on three continents. As a wealth and asset manager for international clients, Mirabaud offers tailor-made services in private banking, institutional asset management and fund management, and has more than 30 years' experience in alternative investment management, brokerage and custody. The bank, which has nearly US$22 billion of assets under management, employs more than 400 staff worldwide, with offices in Geneva, Zurich, Basel, Paris, Monaco, London, Montreal, Nassau, Hong Kong and now Dubai. For more information please visit www.mirabaud.com

For further information, please contact:
Rick Todd
ASDA'A Public Relations
Exclusive Affiliate of Edelman, Middle East & North Africa
Dubai, UAE
T 971 (0)50 478 5324
F 971 (0)4 335 6080
E-mail: r.todd@asdaa.com

© Press Release 2008