Bank sets up regional HQ in Bahrain.MANAMA: Swiss private banking group BSI BSI - British Standards Institute AG (Generali) will establish its Middle East regional headquarters in Bahrain. It has been granted a licence by the Central Bank of Bahrain The Central Bank of Bahrain was established in 1973 as the Bahrain Monetary Agency, shortly after Bahrain gained its independence from the United Kingdom. As per Decree No. (CBB CBB Celebrity Big Brother CBB College van Beroep voor het Bedrijfsleven (Dutch) CBB Cattlemen's Beef Board CBB Coalition for Buzzards Bay CBB Could Be Better (visual effects) CBB Can't Be Bothered ), it was announced yesterday. The bank, headquartered in Lugano, Switzerland, specialises in private banking and asset management services for both private and institutional clients with assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of 94 billion Swiss franc ($92.6bn), shareholders' equity of 2.3bn Swiss franc, and 2,000 employees worldwide. BSI AG, which is rated A1 by Moody's is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Generali Group, a leading player in the global insurance market based in Italy and rated also A1 by Moody's. The Bahrain office will be BSI AG's first presence in the Middle East region and will be offering advisory services specifically tailored to local needs. The office will be headed by Saad Osseiran, presently responsible for the Middle East private banking desk at BSI Generali UK and will constitute a regional hub for the Gulf Area. "The CBB is delighted to welcome BSI Bank to Bahrain," said CBB director of licensing and policy Ahmed Abdul Aziz Al Bassam. "The region in general, and the GCC GCC: see Gulf Cooperation Council. (compiler, programming) GCC - The GNU Compiler Collection, which currently contains front ends for C, C++, Objective-C, Fortran, Java, and Ada, as well as libraries for these languages (libstdc++, libgcj, etc). particularly, is passing through a sound and renewing boom unprecedented as yet, abreast with serious economic reforms that undoubtedly help foster its momentum and longevity and pave the way for the BSI and Generali as new entrants to take advantage in such a rapidly growing financial market." Copyright A[umlaut] 2008 Gulf Daily News Provided by Syndigate.info an Albawaba.com company |
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