Bank Frick has established an office in the Dubai International Financial Centre (DIFC). In addition, it has obtained a licence from the competent supervisory authority, the Dubai Financial Services Authority (DFSA), allowing it to arrange investment transactions, lending, custody services and financial services for Bank Frick in Liechtenstein.

The branch is headed by Stefan Rauti, Head of International Banking Solutions. He has been with Bank Frick for 15 years in various management roles, according to a statement released on Thursday. He recently relocated from Balzers to Dubai.

In Dubai and the wider Middle East, Bank Frick serves crypto companies, asset managers, family offices, corporate service providers, fund administrators and other professional clients. The bank is gradually developing the branch as a bridge to Liechtenstein and plans to build up the team in a targeted manner over the coming months. Dubai’s innovative strength and entrepreneurial dynamism provide ideal conditions for establishing the new location.

Strengthening its position as a product leader

«Our decision to choose Dubai follows our strategy of strengthening our position as a product leader and contributing our expertise internationally in a targeted way,» said CEO Edi Wögerer. With the new branch in Dubai, the bank is even closer to its existing clients and can support them more effectively. «At the same time, we are opening up new markets and expanding our network of partnerships,» the CEO added.

«Dubai is an established and rapidly growing financial market and has also developed into a crypto and blockchain hub. We are delighted to be part of this innovative market – an ideal location and breeding ground for growth and the generation of new ideas,» Stefan Rauti emphasised.

The growth rates and trading volumes of recent years have made the United Arab Emirates one of the largest markets for crypto-based assets, the bank added.