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Global asset manager Capital Group will set up its first office in the Middle East later this year, in the UAE’s Abu Dhabi Global Market (ADGM).
Capital Group, which manages $3.3 trillion in assets worldwide, is relocating Benno Klingenberg Timm, head of institutional business for Europe and Asia, to Abu Dhabi, where he will also take on the role of head of the firm’s local office.
The Abu Dhabi presence will mark Capital Group’s 35th office globally.
Capital Group is the latest global investor to open an office in the UAE, adding to a recent influx that includes Bain Capital, Barings, Hillhouse Investment and Rokos.
(Writing by Brinda Darasha; editing by Seban Scaria)
