Jefferies gets DIFC licence

Jefferies Group, investment banking firm, has opened an office at the Dubai International Financial Centre (DIFC) following approval from the Dubai Financial Services Authority for a Category 4 license that allows Jefferies to operate as an authorised entity from the DIFC.

George Azar has been appointed Managing Director and Senior Executive Officer of Jefferies International Limited, Dubai branch. Imran Ahmed has also joined Jefferies as a Senior Vice President and an advisor in Jefferies’ Wealth Management group.

“We are delighted to be basing ourselves at DIFC to be closer to our clients, including corporates and institutions across the Middle East,” commented Richard B. Handler, Chairman and CEO of Jefferies.

“We look forward to delivering to them Jefferies’ full range of investment banking and asset management services under the stewardship of George Azar, who is a highly respected and experienced professional with strong relationships across the region.”

Kevin Birkett, Head of Financial Services & Business Relations at DIFC Authority, said: “We are pleased to welcome Jefferies to DIFC. Our region enjoys a vast pool of wealth and has a growing appetite for specialist investment expertise. DIFC’s supportive infrastructure and independent laws and regulations make it the perfect base for companies with outstanding track records such as Jefferies to take advantage of this rapidly growing demand. We look forward to supporting them as they grow their business from Dubai.”

Azar joins the firm from Union Bancaire Privee, where he spent 11 years and was CEO of the Qatar office and Managing Director of Dubai. Prior to his time at UBP, he spent five years with SCS Alliance (now Compagnie Bancaire Helvétique) in Beirut as a Private Banker having held a similar role at Merrill Lynch for five years in Geneva, Switzerland. He received a BA in Economics and an MBA in International Business from the American College of Switzerland.

Ahmed also joins the firm from Union Bancaire Privee, where he spent nine years and was a Senior Vice President & Deputy Head Institutional Sales MENA. Prior to joining UBP, he worked as a Senior Analyst in the Investment Banking division at the National Bank of Abu Dhabi (NBAD). He also held a similar role at the Private Department of the late H.H. Sheikh Zayed Bin Sultan Al Nahyan. He received a BA in Economics from the University of North Dakota.

Jefferies Group, Inc. (NYSE: JEF) is the global investment banking firm focused on serving clients for nearly 50 years. The firm is a leader in providing insight, expertise and execution to investors, companies and governments, and provides a full range of investment banking, sales, trading, research and strategy across the spectrum of equities, fixed income and commodities, as well as offers select asset and wealth management strategies, in the U.S., Europe and Asia.

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