Banco Santander has opened a new representative office in Doha, Qatar, helping channel investment between the region and its existing markets.
The office, which is in the Qatar Financial Centre, will allow the bank to further improve its services, enhancing its extensive corporate banking and wealth management capabilities.
It will provide local coverage for clients based in the region, leveraging Santander’s existing global product and operational infrastructure, while also enhancing the capabilities of the group across all markets.
"The establishment of their representative office in the QFC signifies a shared commitment to delivering premium financial solutions for our stakeholders," said Yousuf Mohamed al-Jaida, chief executive officer of QFC Authority.
By leveraging Qatar's strategic regional position and Santander's extensive global network, QFC seeks to strengthen Doha's position as a premier financial destination, where local expertise and global networks converge to empower businesses, he added.
The QFC office will be led by Ziad El-Saigh as senior country executive, who joins from Credit Suisse where he was responsible for coverage of financial institutions, and government related entities and high net worth individuals in Qatar.
He has over twenty years’ experience in financial services having also held senior roles in HSBC, based in Qatar and Dubai.
"The Middle East is an increasingly important market for our clients. Having a presence in Doha, one of the fastest growing financial centres in the world, will allow us to better support the needs of both corporate and wealth customers, leveraging Santander’s unique global presence and multidisciplinary teams," El-Saigh said.
Santander serves 165mn customers across Europe and the Americas, with offices in several other markets supporting the needs of clients, including Hong Kong, Singapore and Beijing.
The new office compliments the bank’s existing global network. Santander Private Banking also expanded its activity in the Middle East by establishing a branch in Dubai International Financial Centre (DIFC) to serve clients in the region.
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