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| Investit Establishes Office In The DIFC |
by Lorys Charalambous, Tax-News.com, Cyprus
Monday, September 14, 2009
Investit, the specialist business consultancy to the global investment management
industry, has opened its first office in the Middle East and North Africa (MENA) region at the Dubai International
Financial Centre (DIFC).
In a move that demonstrates its commitment to the region, the firm also announced
three senior appointments to its new MENA office. Catherine Doherty, one of
the founders of Investit, will head the office at DIFC, while Richard Phillipson,
who has been with Investit since 2001, will move from the London office to take
the role of Director of Institutional Consulting. Ehab El Sawy, who has been
working in the region since 2004, has joined the firm as Regional Director.
Investit, which already has offices in London and Sydney, has been advising
investment management firms and their supporting custodians, administrators
and service providers since 1998. Investit employees have typically over 10
years' experience in investment management and have detailed knowledge in their
specialist areas.
Omar Bin Sulaiman, Governor of the DIFC,
said: "The MENA region has shown resilience in the face of the global
crisis, which reaffirms its massive potential. Investit's decision to enter
this market with a high-caliber team led by one of its founders recognizes the
shift in the center of gravity of global commerce towards the east, and reflects
the vast opportunities in the MENA market.”
Catherine Doherty, Regional CEO, explained: “We have been working for
well-established investment management organizations in the [Gulf Cooperation Council region] since 2003.
We are impressed by the ambitiousness of firms in the region to build profitable
businesses founded on sound products and operational practices.”
Ehab El Sawy noted that “as investors
and distributors become more careful about what they buy, investment managers
need to demonstrate to clients and regulators their solid product and operational
foundations. We look forward to offering Investit’s global experience
to help regional firms flourish both in local and international markets.”
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