OREANDA-NEWS. December 31, 2013. MBA-Moscow has announced a brand new service named Multi Family Office (Prestige Club MFO) targeting customers of Prestige Club private banking.

Azerbaijan International Bank on Wednesday, informed Trend Information Agency about the Multi-Family Office which is a multi-faceted system providing preservation and augmentation of  family capital to the next generations, as well as management of material and non-material assets of affluent customers.   

MBA-Moscow Prestige Club MFO's services for its private banking services customers include management of assets, consulting services, immigration services, taxation policy, alternative investments. 

Executive Director of the Bank, head of private and investment banking business Fegan Naghiev mentioned that private sector was established two years ago under the brand name Prestige Club. He noted that financial indicators and rapid development of private banking over this period has turned this sector into one of priorities of the bank.    

We consider Multi Family Office services offered to our customers one of the newest and vitally important stages of development of private banking sector in our bank. To ensure the quality of services offered to its customers bank establishing cooperation with international specialized companies and seeking more progress in this sphere. Fegan Naghiev also said that in the end of 19th century formation of industrial empire in US caused the need of industrial tycoons for excellent  specialists at finance and law. Eventually, classic family offices was appeared in US. In the 80s those classic family offices merged into Multi Family Offices which kicked off the new era in development of family offices.  In the end of 2000's first family offices were appeared in Russia which subsequently, pushed forward the development "onshore private banking".   

Bank-MBA-Moscow LLC was established in Russia as one the branches of Azerbaijan International Bank. Bank is one of the TOP-150 banks of Russia.