Rothschild opens Dubai office to serve region’s high-net worth clients 

Rothschild & Co has launched a wealth management office in Dubai, aiming to boost services for local clients and wealthy individuals across the region. The financial services giant announced today that the office, already operational, will serve ultra-high-net-worth families, entrepreneurs, charities, and foundations. The move mirrors efforts by other financial institutions to tap into the growing market.

The new Dubai base will complement the bank’s Geneva-based Middle East team and will be led by Sascha Benz, Head of Wealth Management for the Middle East. “As a financial centre with impressive demographics and a growing GDP per capita, Dubai is a very attractive market for Rothschild & Co,” Benz told Reuters. He added that Dubai’s position as a key financial hub in the Middle East attracts wealthy foreigners and institutions.

Saeed Al Awar, Partner and Head of the Middle East at Rothschild & Co, stated: “This expansion signifies Rothschild & Co’s increasing commitment to the wider region by bringing another of its key businesses here, building upon our strong and leading presence in the Middle East and in the financial advisory space.”

“The expansion will enable us to directly and strategically provide holistic advice to families and entrepreneurs on their long term journey,” he added.

Western wealth managers are increasingly drawn to the UAE due to its business-friendly environment, convenient time zones, and tax-free status. Rothschild plans further expansion, with Benz supported by a local senior adviser and compliance officer, and aims to hire three more staff over the next 18 months.

Earlier this year in February, Lord Jacob Rothschild, a British member of the Jewish banking family, died at age 87. He was an ardent supporter of Israel and Jewish philanthropic causes.

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