Coutts, the international private banking and wealth management firm, headquartered in London, has been based in Dubai for 13 years

It’s the king of finance in the UAE with a GDP larger than some former Commonwealth countries.

And Wednesday the Dubai International Financial Centre (DIFC) laid out the red carpet for a very regal newcomer.

The bank of British monarch Queen Elizabeth II.

Coutts, the international private banking and wealth management firm, headquartered in London, has been based in Dubai for 13 years

Coutts, the international private banking and wealth management firm, headquartered in London, has been based in Dubai for 13 years - but CEO Rory Tapner sees the move to the DIFC as a “significant milestone” for the bank.

Edward Hobart, HM Consul General for Dubai, said: “I’m delighted to see Coutts firmly establish itself here in the Middle East.

“Coutts is a truly British firm with a strong heritage and a valuable part of the financial services industry in this region. Today’s opening is another sign of strength of the relationship between the UK and UAE and the DIFC and the British financial sector.”