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BLME launches private banking business

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Points of Essence:

  • London based BLME has futher intensified its Islamic financial services business by setting up a fully Shariah compliant private banking business.  The new unit will serve  high net-worth individuals, entrepreneurs and their corporations in the UK, Europe and Middle East. Trade Arabia News Service has the report.

London: Tue, 27 Jan 2009

Bank of London and the Middle East (BLME), the UK Sharia’a compliant wholesale bank, has confirmed that it will be extending its wealth management division with the launch of a fully Sharia’a compliant private banking business.

BLME Private Banking will provide Islamic finance solutions to assist high net-worth individuals, entrepreneurs and their corporations in the UK, Europe and Middle East with their banking and investment management requirements, said an official spokesman.

Leading the launch will be the newly appointed head of private banking Adrian Gayler, who joins BLME from Merrill Lynch International Bank Limited. Gayler will be based in BLME’s new private banking offices in Mayfair, London, along with the already established specialist wealth management team

“We have devoted the past two years to developing robust foundations for BLME’s business and we are now in a prime position to capitalise on the demand we have seen for a dedicated Sharia’a compliant wealth management offering, with the launch of our private banking business,” said CEO at BLME Humphrey Percy.

“BLME has established a strong reputation as a quality provider of Islamic financing solutions, securing its position as the largest, independent UK based Islamic wholesale bank just over 18 months since launch. I am looking forward to building on this success and developing the private banking business, based upon traditional values of client service, as the cornerstone of BLME’s wealth management proposition,” said Gayler.

Source: Trade Arabia News Service

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Written by Suapi Shaffaii

January 28, 2009 at 12:04 pm

Posted in General Issue

Tagged with , , ,

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