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 | News | |
 Calyon inaugurates its new branch in the DIFC
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On November 4th, Calyon, in conjunction with Crédit Agricole S.A., celebrated the grand opening of their new branch located in the Dubai International Financial Center (DIFC). Chairmen, CEO's and representatives of major international and regional companies and government organizations were cordially invited to a Gala Dinner by Georges Pauget - Chairman and CEO of Calyon, Marc Litzler - CEO of Calyon and Albert Momdjian - CEO of the DIFC branch and Head of Middle-East & Africa Investment Banking.
Around 300 guests came in total from across the region, namely from Saudi Arabia, Kuwait, Bahrain, Qatar, Lebanon, Iran, Egypt, Libya, Tunisia, Morocco and Algeria. Several guests came specifically to the event to meet with the senior management of the Crédit Agricole Group and Calyon. This was a great demonstration of the level of respect that several of those institutions and partners had for the Group. Calyon and the Group demonstrate successfully the depth and the strength of our relationships in this part of the world.
Albert Momdjian added in his opening speech that he "was thrilled by the level of response received for the invitation and this is by far one of the strongest demonstrations by our regional clients of their commitment to the Group. Our clients attended the gala dinner in force in sign of their support to our development plans in the Middle East. Calyon and the Crédit Agricole as whole have raised their flag in Dubai and announced loud and clear their big ambitions for the region. We intend to become one of top three international investment banks in the region in the next three years".
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Marc Litzler and Albert Momdjian |
It was an opportunity for old business associates to catch up and a perfect networking platform upon which new relationships were built. During the welcoming speech, G. Pauget and M. Litzler discussed the extraordinary recent growth in the region and in Dubai specifically, mentioning the opportunities for development in the GCC financial sector. "This, said M. Litzler, fits perfectly with Calyon's goal of international expansion and perfectly illustrates the importance of the bank's presence in the region".
The CEO went on to describe the work that has gone into the move so far - including the construction of the Dubai offices in the DIFC, before saying a few words on Calyon's future plans and ambitions vis-à-vis the region. The CEO's words echoed those of A. Momdjian last June, when he said: "The DIFC is well known as the world's newest and most rapidly growing international financial centre, in one of the most dynamic regions in the world. With the favorable legal and regulatory environment, it is a logical location for us to be."
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All in all, the night was a big hit with guests and hosts alike enjoying an evening of good food, good music and great conversation. The evening marked Calyon's arrival in a growing region and if it was anything to go by, the venture will be a roaring success. |
> Listen to Albert Momdjian, CEO of the DIFC branch and Head of Calyon in Middle-East & Africa, explaining the launch and outlook for business in the region.
Calyon Gulf Dubai's expansion, by the SCO Amr Al Kabbani | |
Amr Al Kabbani, SCO of Calyon Gulf, explains that "an acceleration of our activities took place from 2004, with a strict dedication to a segmented clientele base". It is comprised of local/regional financial institutions, large local/regional corporates, government/semi government companies and multinationals.
Such an expansion has been possible thanks to a reinforcement of the local coverage on the ground, both Financial Institutions and Corporate Senior Bankers. "It has been combined with a strengthening of our business and product lines on the ground, Amr Al Kabbani adds, specifically in Dubai, Structured Finance, Capital Markets, Corporate Banking and most recently Investment Banking through our new license in the DIFC".
Calyon UAE's plans for 2008 will consist in:- increasing Capital Markets/FIM product lines representation (specifically with the establishment of a Bond Origination unit),
- increasing Structured Finance product lines representation (specifically with the establishment of a Real Estate and Lodging presence),
- reinforcing further both our FI and Corporate coverage teams,
- aligning our control and support functions to cope with the increase and sophistication of business conducted.
Calyon's presence in Dubai and in the Middle-East | |
Calyon has been present in the Middle-East for more than 50 years, operating in Saudi Arabia, Yemen, Lebanon, Iran... and in the United Arab Emirates (UAE).
In Dubai, Calyon is established with a full fledge banking license since 1975, without interruption.
Its activities cover:- Capital markets,
- Corporate banking,
- Structured finance,
- International Support to Middle Market Clients Network,
- Islamic banking.
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> More information about the DIFC
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