DUBAI - ABN AMRO Asset Management could be operational in Dubai within six months according to David Waite, recently appointed head of asset management for the Middle East and Africa.
Waite, who previously worked at Gulf International Bank, will be responsible for growing the franchise in the region as well as servicing ABN AMRO AM’s existing client base in the Middle-East.
Commenting on the launch Waite said: “We hopefully wil be able to move within six months. We already have a presence in Dubai and we want to ensure that the asset management services are known by the locals on the ground and assist them in spreading the word.
“We have some existing clients in the region and in general. We are looking to get about 10% ABN AMRO’s $176bn AuM in the Middle East and Africa over three to five years.”
Waite said although his responsibility would be in the Middle East and Africa he would spend most of his time in the Gulf.
By Daniel Flatt
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