AXA Investment Managers is the first dedicated asset manager to formally apply for such a licence, and will enable the company to formalise plans to open an office in Doha, Qatar within the first half of 2006.
AXA Investment Managers marketing and client services for the Middle East has historically been managed and operated from London and Paris.
The office in Doha, to be managed by Scott Callander, Director, Middle East Institutional Advisory will form the platform for future development of AXA Investment Managers’ Middle Eastern business. Christine Cote an AXA Advisory Council Member has advised on business development in the region since the late 1990’s.
Nicolas Moreau, Chief Executive Officer, AXA Investment Managers, commented:
“The commitment by His Highness Sheikh Hamad Bin Khalifa Al Thani, Emir of the State of Qatar, the Ministry of Finance and the Ministry of Economy and Commerce in establishing a robust and well managed infrastructure for financial services institutions is extremely encouraging.
“It is opportune for AXA Investment Managers to establish physical presence in the Middle East as the number of institutional clients in the region continues to grow. This initiative re-affirms our long-term commitment to the GCC, and demonstrates that AXA Investment Managers sees the Gulf as core to developing its business in the future.”
The AXA Group with AXA GULF (Insurance) have existing offices in the Kingdom of Bahrain, The Sultanate of Oman, the U.A.E and the Kingdom of Saudi Arabia.
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