A NEW office is being opened in Dubai by a Manx bank in response to growing demand from clients based in the United Arab Emirates (UAE).

Fairbairn Private Bank has been granted a representative office licence by the Central Bank of the United Arab Emirates and it will open its office shortly.

"Having closely monitored the region for the past five years, we are now delighted to be granted a licence for the UAE, which forms a natural part of our expansion plans,” said Greg Horton, managing director of Fairbairn Private Bank.

“It demonstrates our commitment to the Middle East market and will allow us to provide excellent service to clients based there.”

he said that the bank’s research had shown that individuals in the region are becoming more demanding in both the level of service and the range of wealth management solutions they require. “We feel our offering can fully meet these requirements,” he added.

The licence permits Fairbairn Private Bank to offer local expertise and promote its wealth management services to international expatriates, intermediaries and high net worth individuals throughout the UAE. 

With established offices in the Isle of Man, Jersey and London, plus a representative office in South Africa, the bank can offer offshore banking, asset management and private client services. 

Fairbairn Private Bank was recently voted Best International Wealth Provider in the Professional Adviser International Fund and Product Awards 2011.