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The Dubai International Financial Center (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA) region, has recently attracted several notable personalities. This brings the total number of wealth and asset management firms to more than 300.
Recent notable new wealth and asset management (WAM) firms in DIFC include Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited and The Family Office Company.
This growth milestone reaffirms DIFC’s status as MEASA’s premier financial center for companies looking to tap into the vast wealth of Dubai, the UAE and the wider region.
unrivaled access
Setting up a company in DIFC offers unrivaled access to the region’s competitive and globally connected markets, as well as its deep pool of talent and expertise.
DIFC’s 300 WAM companies represent a US$450 billion industry. By the end of 2022, more than 150 funds have been registered with the center. This delivered strong growth in the first quarter of 2023, reinforcing the center’s commitment to providing a conducive environment for businesses in the region – a key driver of economic growth.
The financial centre’s world-class legal and regulatory framework, coupled with a collaborative approach between clients, regulators and the DIFC Authority, enhances the depth and breadth of its asset management ecosystem.
With US$517 billion in wealth, Dubai tops the list of Middle Eastern cities, and there continues to be strong interest from global and regional asset managers in setting up offices in DIFC.
High Net Worth Individuals and Ultra High Net Worth Individuals
Dubai is also attractive to the industry as the emirate is home to more than 55,000 high-net-worth and ultra-high-net-worth individuals. More than $3 trillion in private wealth is just an hour’s flight from the city, and $8 trillion in the region as a whole.
The financial center’s growing list of notable companies underscores its commitment to fostering a comprehensive ecosystem that supports the evolving needs of WAM companies.
Edmond de Rothschild opened its official office last month and already has strong relationships across the Middle East. Edmond de Rothschild has conviction-driven investing capabilities designed to address the challenges facing our society, along with key trends that will shape the economy for decades to come.
Financial security
For the past two decades, EnTrust Global has been committed to providing financial security to its clients. They manage $18.1 billion in assets for more than 500 institutional investors.
Nomura Singapore Limited provides a full range of services to institutional and private clients. It builds on the strengths of the Nomura Group to provide excellence in customer service.
The Family Office Company is an independent wealth management firm serving some of the wealthiest families, individuals and investors in the GCC.
Salmaan Jaffery, Chief Business Development Officer, DIFC Authority, commented: “The $8 trillion in private wealth in the Middle East, Africa and South Asia region provides compelling reasons for wealth and asset managers to set up in the UAE, and in particular the DIFC.”
“Significant new clients such as Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited and The Family Office Company underline DIFC as MEASA’s preferred location for wealth and asset management. We are helping us in attracting some of the largest wealth and asset managers in the world proud of its strong track record in the field – the cluster now exceeds 300 companies.” — trade arab news agency
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