Edmond de Rothschild has opened an advisory office in Dubai International Financial Center, as it looks to expand its presence and client base in the Middle East and North Africa region.
The new subsidiary named Edmond de Rothschild (Middle East) Ltd. has secured a Category 4 advisory license regulated by Dubai Financial Services Authority, which will allow the firm to locally advise clients and ensure access to the entire group’s offerings.
Edmond already had a representative office in Dubai, but it said the new facility will “enhance” the bank’s ability to serve clients in the region.
Edmond de Rothschild’s conviction-driven approach and actions on sustainable development align with principles to drive the future of finance through innovation and supporting economic growth in our societies.
DIFC registered record-breaking growth last year, with the number of active companies in the Gulf’s financial hub up by a fifth year-on-year to 4,377, driven by fintech and innovation firms.
DIFC has about 60 hedge fund firms with more than $1 trillion in assets under management waiting to be licensed.