Swiss wealth manager, Altaira, has launched a subsidiary in Bahrain.
Headquartered in Geneva, Switzerland, Altaira Wealth Management offers wealth management services to family offices and high net worth individuals. In addition, Altaira offers proprietary investment solutions via a Luxembourg-based fund structure: Altaira Funds. That platform includes proprietary UCITS approved funds crafted in partnership with a group of “strategic alliance partners”. Altaira’s investment solutions include Shariah-compliant investment options. Altaira Middle East is based in offices in the Seef District of Manama – in Platinum Tower.
Altaira Wealth Management is regulated in Switzerland by the Association of Swiss Asset Managers and is a wholly-owned subsidiary of Altaira Limited, a UK-based holding company. Altaira Middle East has been licensed by the Central Bank of Bahrain to perform Category 3 activities, which allows firms to arrange deals in and advise on financial instruments.
Announcing the launch, Mr Ghazi Abdul Jawad, Chairman of Altaira Middle East said: “This is an excellent opportunity for Gulf-based individuals to access wealth management services provided by a Swiss wealth manager with truly global expertise combined with a “local” Shareholder base. Altaira Middle East has several Saudi-based shareholders and is managed by a group of people with long experience in the Gulf region. This differentiates us from most asset managers currently operating in Bahrain.”
Shaikh Mohammed bin Essa Al Khalifa, Chief Executive of the Bahrain Economic Development Board (EDB) said: “We welcome Altaira’s decision to set up its regional office in Bahrain. Wealth management businesses play an important role in our financial services sector in providing people from across the Gulf with a means of investing their savings to provide for their future.”
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