Brunswick takes a chunk of Finsbury's Dubai account

Dubai's Department of Finance has ended its relationship with Finsbury after less than four months, instead turning to Brunswick.

Dubai: Replacing Finsbury with Brunswick
Dubai: Replacing Finsbury with Brunswick

Finsbury was initially brought in by Nasser al-Shaikh, the then head of Dubai's Department of Finance. He was replaced as its director general in May by Abdul-Rahman al-Saleh, a move that has triggered the agency review.

The London-based agency will, however, continue to work with Brand Dubai to promote the Emirate in key international media and the world's business pages.

Finsbury was brought in at the end of March to rebuild Dubai's battered financial reputation. At the time of the appointment, it was speculated that Finsbury had been picked as a fresh pair of eyes and its lack of existing presence Middle Easter market had helped the agency land the brief.

However, Dubai's Department of Finance has now gone with one of the region's traditional powers in Brunswick Gulf.

Brunswick Gulf's brief will centre on iDubai's newly established US$10bn Support Fund for the region's business sector following its bumper bond issue earlier this year.

In a statement, Abdul-Rahman al-Saleh, director general of Dubai's Department of Finance, said: ‘The appointment of Brunswick reflects a significant change in the scope of our requirement and relates to the specific task of the establishment of the Support Fund.

‘I am confident that this appointment will help us communicate the next phase of the bond programme and achieve the highest levels of transparency. We would like to thank Finsbury for their strong counsel over the first half of the year.'

 

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