Deutsche Bank sets up largest research facility in Middle EastJune 16th, 2008 - 12:09 pm ICT by IANS
Dubai, June 16 (IANS) Germany’s Deutsche Bank has said it is moving ahead with a plan to establish a Middle East research platform, expected to be the largest facility of its kind in the region, WAM news agency reported Monday. Pascal Moura, head of the bank’s unit on research for emerging markets, will spearhead the project of setting up the research facility in Dubai.
The facility, expected to be completed in two years, will focus on 80 leading blue-chip regional stocks across all sectors as well as supporting Deutsche Bank’s global research.
“We are constructing the MENA Research platform to ensure the induction of the broadest base of analyst experience, across both mature and emerging markets, in an effort to ensure real value addition not only to our clients but also to the regional markets,” Ricardo Honegger, the head of the bank’s operations in the United Arab Emirates said.
Deutsche Bank forecasts an annual GDP growth of between seven and eight percent in the region.
“We want to make sure that we offer to investors the quality and depth of coverage that we have in other regions in order to support them in their quest to generate Alpha,” he added.
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