AllianceBernstein opens new office in DIFC to expand Middle East presence

AllianceBernstein opens new office in DIFC to expand Middle East presence

AllianceBernstein L.P. (AB), a global investment firm has announced that it has been granted a Category 4 Licence from the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from (DIFC). AllianceBernstein is the latest of an influx of global asset management firms to open regional offices in DIFC. The firm has appointed Jean-Paul Hobeika, managing director – Middle East Institutions, as the senior executive officer. The move is part of AllianceBernstein’s strategic plan to expand and strengthen its presence in the Middle East. Hobeika, who joined AB in August 2022, will work closely with Eduard van Nes, head of Intermediary Sales Middle East and Africa. The new premises will give investors across the region, including institutional clients, distribution partners and family offices, increased access to AB’s asset management services. The firm’s team of experienced professionals will work closely with clients to provide investment solutions that meet their unique financial needs. Willem van Gijzen, head of CEMEA Institutions at AllianceBernstein, said: “We are committed to our growth in the region, and this licence allows us to launch into our next phase. The Middle East has been an important region for AB for a number of