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Mirabaud & Cie

Mirabaud expands into the Middle East with a new office in Dubai

Geneva/Dubai (ots)

Mirabaud has been granted approval by the
authorities of the Dubai International Financial Centre (DIFC) on 30
May 2007 to establish a company providing wealth and asset management
for private clients in Dubai. Mirabaud is the only bank to adopt a
business model where an asset management company works in partnership
with several custodians. The new company bears the name Mirabaud
(Middle East) Limited. "This operation is fully in line with our
expansion strategy: recruiting asset managers with client portfolios,
who are capable of sharing our values of excellence and
independence", said Yves Mirabaud, Managing Partner and member of
Mirabaud's Executive Committee.
The structure and operation of the company
Headed by Yves Mirabaud, the multi-custodian management company
will work with local banks, as well as banks in Switzerland and
Singapore, for client account deposits. This model gives clients a
great deal of flexibility in selecting a custodian bank, and offers
them competitive and transparent management costs.
Mirabaud (Middle East) Limited will be managed by Gilles Rollet,
who has an MBA from INSEAD and close to 20 years' international
banking experience.  Mr Rollet began his career in investment banking
with Goldman Sachs in New York. He then joined ABN AMRO, where he
held a number of positions as head of market or operations in various
countries (the US, Hong Kong, South Africa, Central Asia, the Middle
East and Switzerland). Before joining Mirabaud, Mr Rollet was head of
ABN AMRO's Dubai-based private bank, serving the Middle East and the
Indian sub-continent.
"Owing to the international nature of our activities, there is a
demand for our presence in the region's most dynamic financial
market, as a guarantee of high value added for our clients",
commented Yves Mirabaud. "We are looking to become a prominent player
in the Middle East, notably by promoting a global financial service
and an open architecture", he continued.
Mirabaud (Middle East) Limited will emphasise the quality of its
financial advisory services and the excellence of the overall service
it provides to clients. The company will offer its clients
performance-based discretionary management and advisory services
across the whole range of financial products.
With the benefit of his in-depth knowledge of the region, Mr
Rollet explains: "Clients in the Middle East will, for the first
time, have access to a level of transparency, flexibility and
performance that was previously confined to investors linked to a
family office or an independent asset manager operating in
Switzerland. Mirabaud is now making this expertise available in Dubai
itself".
Lastly, Mirabaud (Middle East) Limited will, in product terms,
provide a window on the Middle East and India for European investors
keen to benefit from the strong growth of these markets. Thanks to
the open architecture principle that will be applied, the asset
managers who will join Mirabaud will bring to our establishment their
expertise in selecting financial products from the Middle-East region
and Indian sub-continent that will benefit the whole Mirabaud group.
According to the business development plan, breakeven will be
achieved in 2009, with a team of six asset managers, five management
assistants and three product specialists.
Dubai's financial centre
The economic vitality of the United Arab Emirates is clear. A few
years ago, Dubai launched a drive to diversify its economy towards
new technologies, commerce and luxury tourism, making a special
effort to develop its financial sector. Through its dynamism and
attractive business environment, Dubai city has become the leading
financial market in the Middle East. In addition, Dubai is aiming to
be the world's top luxury tourism location and a leading tourist
destination within the space of a few years. Oil exports now account
for only 6% of Dubai's GDP.
Opening and press information
Mirabaud (Middle East) Limited will operate temporarily from the
following address:
18th Floor Burjuman Tower
   Tel.: + 971 (0)4 509 6666
   Fax: + 971 (0)4 509 6797
The official opening of Mirabaud (Middle East) Limited will take
place on 5 November 2007 and a press briefing will be organised in
Dubai.
Mirabaud in brief
Mirabaud & Cie, banquiers privés, was founded in Geneva in 1819.
Originally a bank operating solely in Switzerland, Mirabaud has since
developed its brand on three continents. As a wealth and asset
manager for international clients, Mirabaud offers tailor-made
services in private banking, institutional asset management and fund
management, and has more than 30 years' experience in alternative
investment management, brokerage and custody.
Founded: 1819
   Assets under management: CHF 22 billion 
   Staff members:           415 (257 in Switzerland)
   Offices:                 10 (Geneva, Zurich, Basel, Paris, Monaco,
                            London, Montreal, Nassau, Hong Kong,
                            Dubai)
For more information, go to:  www.mirabaud.com

Contact:

Mirabaud & Cie
Boulevard du Théâtre 3
1204 Genf
Laurent Koutaïssoff
Head of Communication
Tél.: +41/22/816'23'90
Mobile: +41/79/786'78'93