Posted on April 17, 2015

Global investment and wealth management specialist LP Suisse Group wants to make Qatar its hub for the Middle East, specifically the GCC region, with the opening of the Doha headquarters of FACT Middle East, which offers upscale family office advisory services, Gulf Times.

"We have just penetrated the market and once we have established our footprint in Qatar, our goal is to expand our services to the Middle East, particularly in the GCC (Gulf Co-operation Council) region. Definitely, we are going to be the hub of the Zurich office for the Middle East," FACT Middle East CEO (Mena) Nader al-Khalfan told Gulf Times on the sidelines of the media launch of its Doha office yesterday in Doha. LP Suisse Group founder and CEO Danilo Larini said the opening of a Doha office came in the wake of the Qatar Financial Centre Authority 's ( QFCA ) approval of FACT Middle East's licence on January 8, 2015.

According to Larini, FACT Middle East provides high net worth individuals (HNWI), ultra-high net worth individuals (UHNWI), and family-owned business in Qatar with fully-integrated family office consultancy services, including business structuring, tax optimisation, relocation and education support services, succession planning, and family governance. QFCA deputy CEO Yousef al-Jaidah underscored the need for more private wealth management services following a rise in the range of HNWI activities in Qatar.

Qatar Airways NY

"With Qatar's high-net worth individuals expanding their range of activities, both here and abroad, we have seen an increased need for private wealth management. As a result, we recently broadened our platform to accommodate such providers. We are very happy to welcome FACT Middle East under the QFC umbrella as our first family office administrator," al-Jaidah said. Asked about LP Suisse Group's brand expansion to Qatar, al-Khalfan emphasised that the country has continued to attract local and foreign investments due to the massive infrastructure spending related to the hosting of the FIFA World Cup in 2022 and the Qatar National Vision 2030.

But aside from the megaprojects lined-up for the coming years, al-Khalfan described Qatar as a "secure" investment and financial hub in the Gulf region. "Everybody is going to Doha because of the huge potential it has to offer, and we'd like to get a slice of that cake, as well. But politically speaking, Doha is quite secure as far as every aspect of the business is concerned. "I respect the UAE market, particularly Dubai, which is a huge hub for many international financial institutions, but you cannot compare it to the Doha market," al-Khalfan explained.