J.P. Morgan Private Bank announced the opening of a new branch in Dubai’s International Financial Centre (DIFC) on 2 November 2026, according to a statement from WAM. The move aims to deepen the bank’s presence in the United Arab Emirates and the broader Middle East, Africa and South Asia (MEASA) region.
The bank has maintained a relationship with the UAE for over five decades, using DIFC as a regional base for more than 20 years for corporate and investment banking. Recent authorisation has also enabled the firm to offer asset‑management services through J.P. Morgan International Advisors. The new branch will operate under the Dubai Financial Services Authority’s regulatory framework, giving the bank a dedicated platform from which to serve clients across the UAE and the wider region.
"J.P. Morgan Private Bank’s expansion into DIFC reinforces Dubai’s position as a global hub for private wealth and reflects the confidence that the world’s foremost financial institutions continue to place in our financial centre," said Arif Amiri, Chief Executive Officer of the DIFC Authority, in a WAM release.
Selim Elgen, J.P. Morgan Private Bank’s UAE Market Head and Senior Executive Officer, added that the bank’s decision to expand its local team was driven by a need to recruit top talent in the area. "Over the past year, we have worked tirelessly to recruit the finest talent in the region. We strongly believe that to truly understand our clients, from the challenges they face to the potential opportunities available to them, location and environment are key. That is why being here, in the UAE and operating from DIFC, with a team rooted in this market, matters," Elgen said.
Karim Rekik, Regional Head of the Middle East for J.P. Morgan Private Bank, highlighted the importance of the UAE as a gateway to the region, saying the country represents a significant and growing market for private wealth services. "The UAE and the broader Middle East represent a significant and growing market for the firm, and the new branch will allow us to deepen our local footprint and better serve our clients’ evolving needs," Rekik commented.
The expansion follows a deliberate growth strategy that saw the bank more than triple the size of its Dubai‑based private‑banking team over the past twelve months. The new operational base will support the firm’s strategic goal of delivering personalized wealth solutions to a global client base while maintaining a strong local presence in a rapidly evolving market.
