Leading European asset management firm opens new Dubai office in DIFC

Strengthens DIFC's position as the leading regional financial hub catering for the asset and wealth management industry

DIFC already home to around 200 of wealth and asset management companies

Dubai-UAE: 24 May 2017 

Dubai International Financial Centre (DIFC), the leading financial hub in the US$7.4 trillion Middle East, Africa and South Asia (MEASA) region, today welcomed European asset management firm Amundi as it officially opened its new Dubai offices.

Amundi develops effective and innovative products in more than 30 countries and has ties with the largest sovereign wealth funds, pension funds, institutional and corporate funds around the world.

The move reinforces DIFC’s position as the largest fund regime in the region. It is a sector that continues to see rapid growth given the growing demand for wealth and asset management products and the vast pool of wealth in Dubai, the wider UAE and many parts of the region.

Arif Amiri, Chief Executive Officer at DIFC, said: “We are very pleased that Amundi chose DIFC to expand its regional operations. This move comes at a time when more and more companies are opting to locate themselves at DIFC because of our proven common law framework, world class regulation and because financial services related companies recognise the value of our well established ecosystem.

“DIFC is proud to be home to almost 200 wealth and asset managers. The opening of Amundi’s regional office at DIFC demonstrates that we are making progress in the delivery of our 2024 growth strategy.”

Nesreen Srouji, Chief Executive Officer, Amundi Middle East, added: “We are delighted to establish our regional office in DIFC, which will allow us to better serve our MENA institutional clients and build upon our 30 plus year history in the region.

“With total assets under management now over US$1.2 trillion, Amundi Asset Management is well on track to develop an even broader range of initiatives to our institutional clients. For example, we recently launched an innovative Green Bond platform, to target select numbers of institutional investors regionally and globally.”

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About Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) is the financial hub for the Middle East, Africa and South Asia, providing a world-class platform connecting the region’s markets with the economies of Europe, Asia and the Americas. It also facilitates the growth in South-South trade and investment. An onshore, international financial centre, DIFC provides a stable, mature and secure base for financial institutions to develop their wholesale businesses.

The Centre offers all the elements found in the world’s most successful financial industry ecosystems, including an independent regulator, an independent judicial system with a common-law framework, a global financial exchange, inspiring architecture, powerful, enabling support services and a vibrant business community. The infrastructure within the district features ultra-modern office space, retail outlets, cafes and restaurants, art galleries, residential apartments, public green areas and hotels.

Located midway between the global financial centres of New York, London in the West and Singapore, Hong Kong in the East, DIFC (GMT +4) fills a vital time-zone gap with a workday that bridges the market and business hours of financial centres in both Asia and North America.

In 2015, DIFC launched its 2024 growth strategy, a blueprint for the next decade of growth of the financial hub. This strategy aims to stimulate trade and investment flows along the South-South economic corridor encompassing Africa, Southern Asia and Latin America.

Currently, 1,648 active registered companies operate from the Centre, with a combined workforce of 21,611 professionals.

DIFC continues to pursue expansion into new services and sectors within the Middle East, Africa and South Asia region, an area comprising over 72 countries with an approximate population of 3 billion and nominal GDP of US$7.4 trillion.

For further information, please visit our website: www.difc.ae , or follow us on Twitter @DIFC.

For media enquiries, please contact:
Hajar Al Ketbi
Dubai International Financial Centre Authority
Vice President - Corporate Communications & Public Relations
Tel: +971 4 362 2440
Email:     Hajar.AlKetbi@difc.ae  

Magdalena Stepien
APCO Worldwide
Senior Account Director
Tel: +971 56 1142948
Email: mstepien@apcoworldwide.com  

© Press Release 2017