Edmond de Rothschild plans Dubai hires with eye on Middle East money

Edmond de Rothschild, the privately-held Swiss investment firm, may hire up to 10 people each year in Dubai after obtaining a key license in the Middle Eastern business hub.

The company is opening in the Dubai International Financial center with an advisory license and “eight extremely senior colleagues who recently joined us,” according to Saman Habibian, market leader for Edmond de Rothschild in the Middle East and Africa.

“The region is a very strategic market from growth point of view. We are planning to grow,” Habibian said in an interview with Bloomberg TV on Tuesday. “The number is second priority to us. We want to grow with experienced colleagues. That number could be anything between 5 and 10 on an annual basis.”

Dubai is emerging as a favored destination for hedge funds and financial firms, which are drawn by its ease of doing business, tax-free status, and allure as a global travel hub.

The financial center has said that it’s in talks with more than 50 hedge funds jointly managing over $1 trillion worth of assets about setting up.

Edmond de Rothschild plans to follow growth opportunities in the region and may eventually look at setting up in Saudi Arabia too, Habibian said.