L&T Cap­i­tal to launch wealth man­age­ment

The Pak Banker - - COMPANIES/BOSS -

MUM­BAI: With the Dubai Fi­nan­cial Ser­vices Au­thor­ity up­grad­ing it to a cat­e­gory four li­cence, L&T Cap­i­tal Mar­kets, pro­moted by In­dian en­gi­neer­ing gi­ant Larsen & Toubro, will launch wealth man­age­ment ser­vices at the DIFC. LTCML, which has had a rep­re­sen­ta­tive of­fice at the DIFC, will now of­fer wealth man­age­ment so­lu­tions by way of ar­rang­ing deals in credit and in­vest­ments, pro­vid­ing ad­vice on fi­nan­cial prod­ucts and ser­vices, in­clud­ing eq­ui­ties, debt, struc­tured prod­ucts, in­vest­ments in al­ter­nate as­set classes etc. to high net worth in­di­vid­u­als based in the UAE and in the Gulf re­gion. "In the last few years, the UAE, par­tic­u­larly Dubai, has emerged as a ma­jor fi­nan­cial cen­tre for wealth man­age­ment ser­vices," re­marked Y M Deosthalee, chair­man and man­ag­ing di­rec­tor, L&T Fi­nance Hold­ings, which is the par­ent com­pany of LTCML, here on Tues­day. "The large In­dian com­mu­nity in the UAE, es­ti­mated to be around 2.6 mil­lion, of­ten strug­gle to get the right op­tions and right in­ter­me­di­aries to in­vest in In­dian mar­kets be it eq­ui­ties, mu­tual funds, in­sur­ance or any other fi­nan­cial prod­ucts."

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