ANZ has expanded into the Middle East, having announced the opening of its new representative office in Dubai in the United Arab Emirates in mid-May.
The office will be run by Allen Tuite, previously group representative, Malaysia and Thailand, with a small team of specialists. It will operate as part of the Europe, America and Middle East region (EAME) reporting to Tim L'Estrange, managing director.
The new base aims to cater to the rising demand from clients in the Middle East. ANZ chief executive officer, Mike Smith remarks: "The Middle East has emerged as one of the centres of global economic activity over the past decade.
He adds: “ANZ has built a presence in the world's major financial centres where our regional clients are investing, working and doing business. The Dubai representative office will further enhance our ability to facilitate trade and investment between Australia, New Zealand, Asia and the Middle East.”
The new office will focus on institutional and private banking, with institutional banking focusing on the promotion of structured export finance and trade finance services.
Private bank activity will initially involve the marketing of mortgages to Australian and New Zealand expatriates living in the region.
Reader Comments