German asset manager DWS has secured regulatory to set up an office in Abu Dhabi’s international financial centre.
The greenlight allows the company carry out a range of activities, including advising and arranging investment deals, insurance management, and to operate a private financing platform in the Abu Dhabi Global Market or ADGM.
“This marks a significant step forward for DWS to offer comprehensive investment solutions in the Middle East,” the company says in a statement on October 28 announcing the approval.
The Middle East is a “strategic growth area for DWS” and the company is looking “to capitalise on our position as the gateway to Europe, linking clients, markets and opportunities across borders in a region that is future-focused and highly sophisticated”, according to Stefan Hoops, chief executive officer of DWS.
Frankfurt-based DWS managed US$1.19 trillion of assets as of end-June.
