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Thu 9 Dec 2004 04:00 AM

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DIFC grants licence to Qatari-owned Ansbacher

Qatari-owned banking group gets licence to operate within the DIFC zone.

Ansbacher & Co Limited, the London based bank has launched its first Middle East office in Dubai following the receipt of a licence to operate from within the Dubai International Financial Centre (DIFC) from the DIFC Financial Services Authority (DFSA).

DIFC director general, Dr Omar Bin Sulaiman said: “In launching its first Gulf office at the DIFC, Ansbacher joins many of the biggest names in global finance in confirming the impact the DIFC will have on the world’s capital markets.”

Ansbacher Group, which provides private and specialist banking, wealth management, investment advice, fiduciary and fund services to high net worth individuals (HNWIs) and institutional clients, was acquired by Qatar National Bank (QNB) in July this year.

Hugh Titcomb, managing director of Ansbacher & Co, said: “A strong presence in the Middle East enables us to focus our service offering to clients in the region particularly on succession planning, fiduciary services, investment management and banking.

He added that the DIFC licence was the first of several likely developments by Ansbacher in the region, designed to help it grow its presence and offer quality services to private and institutional clients looking for wealth and investment management solutions.

Ansbacher joins Franklin Templeton and Credit Suisse, both of which were also granted DIFC licences this week.

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