Coutts continues ME expansion, opens office in DIFC

Coutts, the international private banking and wealth management firm headquartered in London, held the official opening of its new premises in the Dubai International Financial Centre (DIFC). The inauguration was hosted by Coutts’ CEO, Rory Tapner who was joined by the Chairman of Coutts, The Earl of Home; the DIFC Governor, Abdullah Mohammed Saleh and Edward Hobart, HM Consul General, British Embassy, Dubai. Tapner said of the occasion, “Our relocation to the DIFC represents a significant milestone for Coutts in the Middle East. In addition to offering a more central location, our presence here will allow us to provide a greater degree of investment advice to our clients who work with us in the region.” Coutts has been present in the Middle East for many years and opened its first representative office in the UAE in Dubai, 13 years ago. The bank has regional offices in Dubai, Abu Dhabi and Doha and, last year, announced its intention to grow the business in core international markets, including the Middle East. Moving to the DIFC underscores the Bank’s commitment to the region and enables Coutts to operate as an authorised firm. DIFC Governor Abdullah Mohammed Saleh, said: “The DIFC represents an important global financial centre and provides the gateway to the regional economy. We are proud to have attracted such a well respected organisation to join our community”. Edward Hobart, HM Consul General for Dubai, added: “I am delighted to see Coutts firmly establish itself here in the Middle East. Coutts is a truly British firm with a strong heritage and a valuable part of the financial services industry in this region.