Notable names join DIFC to tap into wealth across region

Notable names join DIFC to tap into wealth across region

DUBAI, 4th April, 2023 (WAM) – Dubai International Financial Centre (DIFC) has welcomed several prominent wealth and asset management (WAM) firms, bringing the total number of WAM companies in the centre to over 300. This milestone reinforces DIFC's position as the leading financial centre for WAM companies in the MEASA region. With an industry size of US$450bn, DIFC's 300 WAM firms represent a commitment towards providing a conducive environment for businesses in the region.

The financial centre's world-class legal and regulatory framework, collaborative approach, and access to competitive and globally connected markets have bolstered the depth and breadth of its asset management ecosystem.

Dubai's US$517bn of wealth, the highest in any Middle Eastern city, along with its more than 55,000 high net worth and ultra-high net worth individuals, continues to attract global and regional asset management firms to set up offices in DIFC. Recent notable WAM firms to establish themselves in DIFC include Edmond de Rothschild, EnTrust Global, Nomura Singapore Limited, and The Family Office Company.

Salmaan Jaffery, the Chief Business Development Officer at DIFC Authority, highlights that the private wealth amounting to US$8 trillion in the Middle East, Africa, and South Asia region presents a compelling reason for WAM firms to set