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J.P. Morgan Private Bank Establishes Regulated Branch in DIFC

J.P. Morgan Private Bank has launched a dedicated branch in the Dubai International Financial Centre licensed by the DFSA. The branch aims to serve high-net-worth individuals and family offices across the UAE and the Middle East.

Published Source: Gulf News
Issuing authority
Dubai Financial Services Authority
Jurisdiction
Dubai International Financial Centre
Publication date
November 2, 2026
Effective date
November 2, 2026
Stage
Final rule
Official source
gulfnews.com
Illustration: Exterior view of modern glass and steel office towers in Dubai International Financial Centre during daytime with clear blue sky, showin
Illustration

J.P. Morgan Private Bank announced on November 2, 2026, the establishment of a dedicated branch within the Dubai International Financial Centre (DIFC). The entity is licensed and regulated by the Dubai Financial Services Authority (DFSA) to provide services to high-net-worth clients and family offices across the UAE and wider Middle East region.

According to the bank, its Dubai-based private banking team tripled in size over the 12 months preceding regulatory authorisation. Leadership of the unit includes Selim Elgen, serving as UAE Market Head and Senior Executive Officer, and Karim Rekik, Regional Head for the Middle East.

DIFC Authority CEO Arif Amiri stated that the expansion reflects the free zone's attractiveness and standing as a major global hub for private capital management.

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