The global economic slowdown and the shrinking fortunes of rich clients have shaken the wealth management industry to its core since the 2008 financial crisis.
Reflecting the uncertain outlook for the industry across the region and worldwide, Swiss Life International last month became the latest big player to announce it was withdrawing from the Dubai market.
Yet amid the gloom, financial services firms are looking at new opportunities within the GCC. Already HSBC and Barclays, two international banking giants, are bolstering their presence in the region in a bid to manage more cash from wealthy investors.
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