Dubai, United Arab Emirates – 2 November, 2026: J.P. Morgan Private Bank today announces its new branch in the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, deepening its commitment to clients in the UAE and across the Middle East.
Regulated by the Dubai Financial Services Authority (DFSA), the new presence will provide J.P. Morgan Private Bank with a dedicated platform in DIFC from which to serve clients across the UAE and the wider region.
The expansion represents the latest chapter in J.P. Morgan’s relationship with the UAE, spanning more than five decades. Over the past 20 years, the firm has also used DIFC as its regional base for corporate and investment banking and, more recently, broadened its activities with authorisation to provide asset management services through J.P. Morgan International Advisors.
His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, said: “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. An institution of J.P. Morgan’s global stature choosing to deepen its commitment to the UAE and specifically DIFC is testament to the strength of our ecosystem, international connectivity and ability to connect global institutions with opportunities across the region.”
Over the past 12 months, and in readiness for the authorisation, J.P. Morgan Private Bank has more than tripled the size of its Dubai-based private banking team in a deliberate move to ensure the right talent and capabilities are in place. The team is led by Selim Elgen, UAE Market Head and Senior Executive Officer, and Karim Rekik, Regional Head, Middle East at J.P. Morgan Private Bank.
Selim Elgen comments, “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.”
“The UAE and the broader Middle East represent a significant and growing opportunity for us as a business and for our clients,” said Karim Rekik. “This branch is about making sure we are here, with the right people and capabilities, to help our clients navigate that opportunity and make the most of what this region has to offer.”
Khaled Hobballah, Senior Country Officer, MENA, J.P. Morgan, said: “Our history in the UAE has given us a deep understanding of the market and strong confidence in its future. This branch underscores our continued commitment and strengthens how we serve clients here.”
The new DIFC branch reflects J.P. Morgan Private Bank’s enduring commitment to the UAE and will strengthen its ability to serve clients across the country and where permitted in the broader region with greater proximity, continuity and local insight.
ENDS
About Dubai International Financial Centre
Dubai International Financial Centre (DIFC) is the world’s most advanced financial centre, shaping the global financial landscape and cementing Dubai’s reputation as a leading business destination across the Middle East, Africa, and South Asia (MEASA).
As the region’s only financial centre operating at scale across all sectors, DIFC is home to 10,018 active firms. These include 1,134 regulated firms, among them are 327 banks and capital markets firms, 71 brokerage entities, 165 insurance and (re)insurance companies and 592 Wealth and Asset Management firms (including over 100 hedge fund managers). Home to 1,933 AI, FinTech and innovation firms, DIFC sets the benchmark for financial innovation and is a top five ranked FinTech hub across the world.
Underpinned by a trusted, world-class legal and regulatory framework, including the region’s most utilised commercial courts, DIFC ensures efficient governance and reinforces Dubai’s leadership in the digital economy. Connecting 50,200 professionals, it offers the region’s deepest pool of financial talent, serving as the gateway to MEASA for all financial players.
Beyond business, DIFC provides the complete urban experience with world-class lifestyle amenities, establishing it as a highly sought-after destination. The 17.7mn sq. ft. DIFC Zabeel District expansion which provides capacity for over 42,000 companies and a workforce of more than 125,000, DIFC is solidifying Dubai’s position as a top four global financial centre. The new District will also include premium Grade A commercial office space, over 1mn sq.ft. allocated to future technologies including the world’s largest Innovation Hub and world’s first purpose-built AI Campus, an expanded academy, residential buildings, hotels, a conference centre, and a range of retail, dining, and cultural offerings, including the Museum of Digital Art, the region’s first museum dedicated to digital art and new technologies.
Anchored in integrity, DIFC is the platform for success, driving the future of finance.
For further information, please visit our website: difc.com, or follow us on LinkedIn and X @DIFC.
For media enquiries, please contact:
Burson | [email protected]
Rasha Mezher | Dubai International Financial Centre Authority
Manager, Marketing & Corporate Communications
+9714 3622451
J.P. Morgan Private Bank
Elleri Burden
Alia Nawaz
About J.P. Morgan Private Bank
J.P. Morgan Private Bank provides customized financial advice to help wealthy clients and their families achieve their goals through an elevated experience. Clients of the Private Bank work with dedicated teams of specialists that bring their investments and financial assets together into one comprehensive strategy, leveraging the global resources of J.P. Morgan across planning, investing, lending, banking, philanthropy, family office management, fiduciary services, special advisory services and more. The Private Bank oversees more than $3.9 trillion in client assets globally (as of 9/30/2026). More information about J.P. Morgan Private Bank is available at privatebank.jpmorgan.com.
This announcement is for information purposes only and does not constitute an offer, solicitation, or recommendation of any products or services in any jurisdiction.