Investec Opens Dubai Office With Eye on South African, UK Expats [Financial Post (Toronto, Ontario, Canada)]
INVESTEC LTD UNSP/ADR (ITCFY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Investec Ltd., a bank that focuses on wealthy clients in South Africa and the UK, is opening an office in Dubai with an eye on its growing expatriate community. The lender, which also has operations in the US, Europe and elsewhere, announced its Dubai expansion on Wednesday. “We are seeing a lot of South Africans considering Dubai as an option to either work or permanently live,” Investec Bank Chief Executive Officer Cumesh Moodliar told Bloomberg in an interview. “Building off on that, we've seen family offices being quite active in that region as well as key financial institutions.” The South African Business Council puts the number of South African-affiliated companies with the Dubai Chamber of Commerce at more than 2,400, according to South African Consul-General Tsepo Lebona. Investec also says that as many as 5,000 of its UK target-market
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