The importance of the Middle East market for Ansbacher, the London-based private bank, looks likely to be further cemented with plans to ope...

The importance of the Middle East market for Ansbacher, the London-based private bank, looks likely to be further cemented with plans to open an office in the oil-rich state of Qatar. In a local newspaper interview with the chief executive of Qatar National Bank, which bought Ansbacher in November 2004, Saeed bin Abdullah al-Misnad said: “Ansbacher has plans to open an office in Qatar,” although he gave no indication of when the office would be opened. Ansbacher opened a Dubai office in December 2004, just a month after being acquired by QNB. The London bank, which can trace its origins back to the late 19th century, was sold by the South African finance group First Rand, after the group launched a strategic review of Ansbacher’s future in 2003. QNB, the largest bank in the country, is half owned by the government of Qatar with the rest of the share capital listed on the Qatar Stock Exchange.