BCP expands Dubai presence with licence upgrade and enhanced advisory services

Business

BCP expands Dubai presence with licence upgrade and enhanced advisory services

Banque de Commerce et de Placements (BCP), the Swiss bank headquartered in Geneva, has expanded its presence in the Middle East by transforming its Dubai Representative Office into a fully operational branch. The move follows the successful acquisition of a Category 4 licence from the Dubai Financial Services Authority (DFSA) within the Dubai International Financial Centre (DIFC).

The upgraded licence allows BCP to broaden its range of advisory services, strengthening its position in the Middle East and Africa, where it has operated since 2006. With significant client assets already based in the region, the new Dubai branch enhances BCP’s ability to support high-net-worth individuals, family offices, and institutional clients by combining regional proximity with Swiss banking expertise.

Founded in 1963, BCP is recognized for its leadership in commodity trade finance and wealth management. The bank holds investment-grade ratings from both Fitch and Moody’s, underscoring its financial stability and disciplined risk management.

“This marks not just an upgrade, but a strategic development,” said Marco Grilli, Head of Wealth Management at BCP. “Dubai has emerged as a global centre for innovation and finance. Expanding our presence here underscores our commitment to delivering bespoke, Swiss-quality wealth management services in a market that values excellence.”

The Dubai branch will function as a client-facing and advisory hub, while transactions and asset bookings will continue to be centralized in Switzerland. This dual model enables clients to benefit from personalized local relationship management supported by BCP’s comprehensive banking and wealth management infrastructure in Geneva.

To lead the new branch, BCP has appointed Massimo Cangini as Senior Executive Officer. With over a decade of regional experience and more than 20 years in Swiss and international banking, he brings deep market knowledge and a strong focus on client service.

Clients will gain access to BCP’s full suite of Swiss platform services, including advisory on financial products, custody, credit, and investment arrangements. The branch will operate under the joint regulatory oversight of the DFSA and the Swiss Financial Market Supervisory Authority (FINMA), reflecting the bank’s adherence to the highest compliance and regulatory standards.