Nuvama Private launches operations at new DIFC-based office

DUBAI: Nuvama Private, the Private Banking arm of Nuvama Group, one of India's largest, listed and institutionally backed Wealth Management firms, announced the launch of its operations to serve the Middle East through its office in the Dubai International Financial Centre (DIFC). With a CAT III C licence, Nuvama Private is one of few Indian private banks that is authorised to provide advice and distribute investment products. Traditionally, Global HNW and UHNW clients have been served by banks or local External Asset Manager's (EAM's) in the region and have had limited access to participate in the Indian public and private market opportunities, that have evolved over the last few years. Salmaan Jaffery, Chief Business Development Officer at DIFC Authority, said, "DIFC provides vast opportunities for our wealth and asset management sector clients given Dubai has the highest concentration of wealth of any Middle Eastern city.' Source : Emirates News Agency