SunGard, one of the world's leading software and information technology (IT) services companies, has received a licence to establish an office in the Dubai International Financial Centre (DIFC).
SunGard Middle East's DIFC office will provide a complete range of services including business development, implementation, project management and support, for its expanding customer base.
The DIFC office will support SunGard's expansion in the growing financial services sectors of treasury and capital markets, asset management, conventional and Islamic banking, risk management, trading, brokerage and alternative investment.
HE Dr Omar Bin Sulaiman, Governor of the DIFC, said: "Information technology plays a key role in boosting the competitive advantage of financial services companies. Technology can not only improve productivity and reduce costs but also help financial services firms create new value for their clients. With its global expertise in providing innovative technology solutions, SunGard can make significant contributions to help enhance the technological strengths of companies in DIFC," he added.
Abdulla Mohammed Al Awar, CEO of DIFC Authority said: "Software and information technology (IT) firms like SunGard are part of the large and diverse pool of services providers in DIFC that support the growth and development of financial services firms. Innovative technology is critical for financial services firms to deliver value to their clients and SunGard Middle East's presence here will enrich the technology expertise available in DIFC. We look forward to providing the operational support necessary for SunGard to expand its business in the Middle East."
Wissam Khoury, Managing Director of SunGard Middle East, said: "We are delighted to be part of the DIFC family and share the vision of having a long-term and mutually beneficial partnership in this unique financial services district. SunGard has a long history of providing world-class solutions to clients in the Middle East.
"Our understanding of today's interdependent global financial environment puts us in a strong position to help customers in the Middle East better understand and manage their operations. SunGard has been very successful in assisting banks and financial institutions in achieving their aggressive plans and vision while efficiently managing their day-to-day operations and risks".