Sunday 12 February 2012

Dubai banks playing a new tune - The National

During Dubai's boom years, bankers were more likely to be found talking debt-financed buyout deals than advising on how to buy musical instruments. But these days, Gary Dugan, the chief investment officer of Emirates NBD Private Banking, is doing precisely that.

"The price of a high-quality violin hasn't fallen in value since the year 1600," he says.

Buy a Stradivarius, Mr Dugan suggests, and you can then lend it to the Metropolitan Orchestra in New York. The pitch is nothing if not straightforward, and one that he says is increasingly striking a chord with the region's super rich.

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