UBS to close Representative Office in Dubai

Dubai: UBS announced on Wednesday that it will close its representative office in

Dubai and transfer the operations to its representative office in Abu Dhabi as part of the bank’s effort to optimise its local operations.

The representative office in Abu Dhabi will be the appointed legal entity in the UAE to receive all legal liabilities concerning the RO Dubai, the bank said in an emailed statement.

“UBS is committed to its presence and franchise in the Middle East where it has been present for half a century. Through its Advisory Office in Dubai, UBS will maintain the same level of market coverage and strengthen its footprint in the UAE out of the Dubai Financial Centre (DIFC),” the statement said.