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Barings opens Dubai office in response to growing client base


- Mr. Nisarg Trivedi appointed as Head of Sales and Business Development, UAE -

London, 20 October 2010Baring Asset Management (Barings), the international investment management firm and winner of a Queen’s Award for Enterprise: International Trade 2010, has announced the opening of a representative office in Dubai in response to growing demand from clients based in the Middle East. Barings has recently been awarded a representative office license by the Dubai International Financial Centre (DIFC), and the office officially opens today. Mr. Nisarg Trivedi has been appointed as Head of Sales and Business Development, UAE, reporting to Rob Lay, Head of Europe, MENA and Alternatives, effective immediately.

Mr Trivedi has worked and lived in Dubai for several years and has developed valuable local market knowledge. He joins from the Bank Muscat Asset Management sales team, where he was responsible for growing their distribution network across both retail and institutional channels in Dubai.  Previously he was Manager of Sales and Distribution at HDFC Asset Management, responsible for sales of the HDFC Mutual Fund across the Middle East. Before that he was Area Sales Manager for Franklin Templeton Investments, India.

Rob Lay, Head of Europe, MENA and Alternatives at Barings, says: “We are very pleased to be opening an office in this exciting region, which is a natural progression for Barings. It demonstrates our commitment to these markets and our desire to build on the many valued relationships that we have throughout the region. We believe that establishing an office in the DIFC will be a very effective way to achieve our objectives and thank the DIFC for granting our licence.

Rob Lay continues, “We are also pleased to welcome Nisarg to our team. We are confident that his considerable experience will allow us to provide excellent service to our clients and grow our business in the region.”

Marwan Lutfi, Deputy CEO and Head of Business Development at DIFC Authority, said: “With its long experience in managing funds and portfolios in different emerging markets, Barings will be able to use the DIFC as a platform to take advantage of the Middle East’s rapidly growing demand for specialised financial services. Now with the introduction of the new Funds Regime which permits DIFC-based fund managers to establish and manage funds in other jurisdictions, the Centre will be even more attractive as an investment centre for both foreign and domestic fund managers. We are pleased to welcome Barings to the DIFC, allowing investors a greater access to the firm and its range of investment products in the UAE, GCC and throughout the Middle East.”

*Source: Barings as at 31 July 2010


Baring Asset Management
Joanna Pope – PR Manager
Tel: +44 (0) 20 7214 1862

Citigate Dewe Rogerson
Jo Skinner
Tel: +44 (0) 20 7282 1092
Sophie Woodcock
Tel: +44 (0) 20 7282 1072

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Baring Asset Management is an international investment management firm with investment skills, clients and business locations spanning world markets.  Our investment competency encompasses developed and emerging market equity, fixed income and multi-asset portfolio management services offered to institutions, retail investors and private individuals.  Worldwide clients include public and corporate pension plans, government agencies, financial institutions, charitable organisations, mutual funds and private individuals.

Baring Asset Management is part of the MassMutual Financial Group, a global, diversified financial services organization. Massachusetts Mutual Life Insurance Company (MassMutual) is one of the largest life insurance businesses in the USA.

This document is not an offer to sell or an invitation to apply for any product or service of Baring Asset Management.

Issued by Baring Asset Management Limited (Authorised and regulated by the Financial Services Authority).

This year, Baring Asset Management is proud to support The Maypole Project, a charity providing vital support for children with complex medical needs and their whole families.  Registered charity number 1120163.

For further inquiries on the DIFC, please contact:

Dubai International Financial Centre
Shaima Al Zarouni
Assistant PR Manager
Tel: +971 4 362 2432

About the DIFC

The Dubai International Financial Centre (DIFC) is an onshore finance and business hub connecting the Middle East, Africa and South Asia region (MEASA) and the rest of the world.

Since its launch in 2004, the DIFC has established a current client base of 745 firms which have registered at the Centre, including 16 of the world’s largest 20 banking institutions. Thousands of employees operate in an open environment complemented by international regulations, laws and standards. The DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero percent tax rate on income and profits and no restriction on capital convertibility or profit repatriation. In addition, the DIFC’s clients benefit from modern infrastructure, operational support services and business continuity facilities.