DUBAI, 25 June 2007 — The world’s sixth largest bank Calyon, the corporate and investment banking division of the Crédit Agricole Group, has been granted a full service license to provide investment banking and capital markets services from the Dubai International Finance Center (DIFC).
It will open a full service office in the DIFC in July 2007. Over the coming months, the bank will open additional offices in Saudi Arabia and Egypt and expanding its investment banking and capital markets services across the region.
Through its DIFC office, the bank will continue to offer clients a range of innovative global investment banking services including M&A advisory, capital markets and structured finance.
Commenting on the new venture, Albert Momdjian, CEO of the DIFC branch and managing director and head of Middle East & Africa Investment Banking, said: “Calyon is a global bank and one of the top five foreign banks in the Middle East and North African region, and has been present here for over 50 years. With our DIFC license, we will be able to build on this and significantly strengthen our offering to clients in the region, with an aim to become one of the strongest investment banking groups in the Middle East and Africa region.”
“DIFC is a natural location to serve as a strategic hub for our bank regional investment banking business. It offers a unique position as a bridge between the capital markets of Europe and Asia, where we enjoys strong positions,” Momdjian added.
Nasser Al-Shaali, CEO, DIFC Authority, said: “It is a pleasure to welcome Calyon to the DIFC. We recognize that the bank has an historic, deep commitment to, and strong presence in, the MEA region, as well as in Asia and Europe.”
