A visa scheme similar to Europe’s Schengen Visa programme‚ which would allow Gulf-based expatriates and foreign businessmen “to move easily” across the borders of the six-country GCC region‚ is being considered and is likely to be in place “by mid-2014”‚ Gulf media have reported.
The majority of UAE residents are failing to save for their retirement with 60% of those aged over 40 not even having a retirement plan, according to research released today by Zurich International Life.
The Middle East represents huge growth opportunities for wealth managers and financial advisers, with regulatory changes in the UK serving to boost rather than hinder opportunities in the region, according to the 2013 Middle East Investment Panorama report from research company Insight Discovery.
Zurich International Life, Middle East, has appointed Shabnam Ansari to the recently created role of head of local bank distribution, having split its banking distribution channels earlier this year.
The deVere Group has appointed former Geneva based area manager Noel O’Leary to head its recently acquired UAE business, Acuma.
Julius Baer has completed the transfer of Merrill Lynchs International Wealth Management businesses based in Lebanon, Bahrain and the UAE, which giving the bank new footholds in Beirut and Manama as well as strengthening its presence in Dubai.
The Boston Group, an Isle of Man-based multi-family office, trust company and tax advisory business, has announced that it has launched a multi-family office and trust services operation in the Gulf.
Emirates NBD Asset Management has entered into a partnership with UK fund group Jupiter, with the latter appointed to run a number of mandates for Emirates NBD including a new fund.
Seoul-based Mirae Asset Global Investments Group is planning to become one of the first Asian asset management companies to set up a distribution team focused on selling into the Middle East.
Advisers in the UAE are split on whether removing commission from the advice process would be good for consumers.
Dubai has been chosen to host the 2020 World Expo trade convention, becoming the first Middle Eastern city to host the event.
The chief executive of one of the largest advisory groups operating in the UAE has called for a ban on the sale of 25-year savings policies.
