Private banking now focusing on wealth preservation

Earlier this year Bank Sarasin-Alpen (ME) launched a $100 million (Dh367m) GCC Equity Opportunities Fund to invest in the region's stock markets. The asset management company is planning to launch a similar fund focusing on the Mena region before the end of the year.

The company is busy looking for investment and expansion opportunities and is keen to acquire more human capital. "I am very bullish because there is plenty of business still to be done," said Rohit Walia, Executive Vice-Chairman and CEO, Bank Sarasin-Alpen (ME) and Alpen Capital (ME). "That is why we have launched a fund that nobody else has launched. That's why we are still hiring people – they are better assets to acquire than balance sheets."