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Wells Fargo Opens New International Branch in DIFC
Company’s 10th international branch; Located in Dubai International Financial Center
DUBAI, UAE. January 28, 2013– To better serve its Global Financial Institutions (GFI) customers
throughout the Middle East and North Africa, Wells Fargo & Company (NYSE: WFC) announced today it
has opened a new branch in Dubai International Financial Center (DIFC). The new branch will help to
expand the company’s existing GFI services, which include trade, payments, deposits, credit and foreign
exchange services to financial institutions in the Middle East and North Africa region.
“Wells Fargo has operated in the MENA region for more than 15 years and we intend to strengthen our
presence and capabilities to best serve our GFI customers,” said Charles Silverman, head of Wells Fargo’s
GFI business. “With our new location in DIFC, we can provide our customers in the region with an
expanded range of products and services.”
Currently, Wells Fargo has 12 team members in the new branch office, which is managed by Shoar
Hassan, senior executive officer and regional manager, and is located in Gate Village at DIFC. Known as
the region’s leading financial center, DIFC serves as the regional headquarters for many global
companies and financial institutions.
“We are pleased to welcome Wells Fargo to DIFC and look forward to supporting the company’s mission
to expand its offering in the Middle East and North Africa,” commented Jeffrey Singer, CEO of DIFC
Authority. “Not only does the addition of such a well-established global name to our client portfolio
reinforce Dubai’s position as a leading business hub, providing accessibility and connectivity to
surrounding markets, but also shows recognition of the potential opportunities within the region.”
Operating from more than 35 global locations, Wells Fargo’s International Group now has branch offices
in Canada, Cayman Islands, Dubai, Hong Kong, London, Seoul, Shanghai, Singapore, Taipei and Tokyo.
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About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services
company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo
provides banking, insurance, investments, mortgage, and consumer and commercial finance through
more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and has offices in more than 35
countries to support the bank’s customers who conduct business in the global economy. With more than
265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo &
Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s
vision is to satisfy all our customers’ financial needs and help them succeed financially.
About DIFC
The Dubai International Financial Centre (DIFC) is the financial and business hub connecting the
region’s emerging markets with the developed markets of Europe, Asia and the Americas.
Since its launch in 2004, DIFC, a purposely built financial free zone, has been committed to encouraging
economic growth and development in the region through its strong financial and business infrastructure.
Currently, DIFC's client base comprises almost 912 active registered firms, including 19 of the world’s top
25 banks, eight of the world’s ten largest insurers, six out of ten top law firms, 11 of the top 20 money
managers in the world. Around 14 thousand employees operate in an open environment complemented
by international legal and regulatory standards. DIFC offers its member companies benefits such as 100
per cent foreign ownership, zero per cent tax rate, with no restriction on capital convertibility or profit
repatriation. DIFC has its own independent financial and ancillary services regulatory body, the Dubai
Financial Services Authority (DFSA). It also has the DIFC Courts, which is an independent common law
judiciary based in DIFC with jurisdiction over civil and commercial disputes in or relating to the Centre.
DIFC is built upon a modern legal, regulatory and physical infrastructure, which makes it the destination
of choice for Financial Services firms establishing a presence in the region.
For further information, please visit our website: www.difc.ae , or follow us on Twitter @DIFC.
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For further inquiries, please contact:
Wells Fargo (Media)
Kathryn Ellis
E-mail: [email protected]
Tel: 1-415-314-6783
Dubai International Financial Centre (Media)
Shaima Al Zarouni
Email: [email protected]
Tel: +971 4 362 2432