Standard Life opens office in DIFC
Dubai, November 26, 2012
Standard Life, a leading long term savings and investments company, has opened its first regional office in the Dubai International Financial Centre (DIFC) in line with its emerging markets growth strategy.
The UK-headquartered firm said Dubai Financial Services Authority (DFSA) had granted it licence to offer its key products to the UAE-based financial intermediaries.
Standard Life's foray into Dubai comes after the company’s extension into the South East Asia market via Singapore, announced in October this year.
Led by regional CEO Chris Divito, this development is part of Standard Life’s strategy to broaden the company’s distribution platform and expand its international footprint in high growth, high value emerging markets.
Having worked in senior positions with Standard Life for over 15 years, Chris brings a wealth of international industry experience to the Middle East market.
On the regional launch, Nathan Parnaby, the chief executive, Asia and Emerging Markets, Standard Life said, "Our long term vision within the Middle East is to build a leading retail savings and investments business. Being a large and respected wealth centre, the UAE is at the centre stage of our regional business strategy."
"We are confident of strong growth as there is high demand within the region for established and trusted brands like Standard Life to deliver leading savings and investment solutions," he stated.
Chris Divito, the CEO of Standard Life International (DIFC Branch) said the new office was a timely and strategic development for the company’s business relationships in the region.
"Standard Life International will principally address the growing needs of Dubai based clients through an intermediated business model. We strongly believe in the region’s huge potential and look forward to develop our business in these markets," he added.
Standard Life’s current businesses within Asia and Emerging Markets includes its retail investments Business which operates out of Hong Kong and Singapore, as well as its life and asset management joint venture businesses in China and India.-TradeArabia News Service