{"id":2036,"date":"2023-12-02T12:36:14","date_gmt":"2023-12-02T10:36:14","guid":{"rendered":"https:\/\/sahfy.net\/news\/?p=2036"},"modified":"2023-12-02T12:36:14","modified_gmt":"2023-12-02T10:36:14","slug":"14-leading-financial-institutions-representing-over-450billion-confirm-setup-in-abu-dhabi-in-one-week","status":"publish","type":"post","link":"https:\/\/sahfy.net\/news\/?p=2036&lang=en","title":{"rendered":"14 Leading Financial Institutions, Representing Over $450billion, Confirm Setup in Abu Dhabi in One Week"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Abu Dhabi Global Market (ADGM), the leading international financial centre of the UAE\u2019s Capital, today announced 14 major financial institutions representing a total AUM of USD 452bn have committed to establishing new operations in ADGM. A year into Abu Dhabi\u2019s \u201cFalcon Economy\u201d, these announcements, coinciding with the second edition of Abu Dhabi Finance Week (ADFW), reaffirm the emirate\u2019s rapidly increasing appeal to global finance and ADGM\u2019s strategic role and contributions towards the significant growth of the \u201ccapital of capital\u201d and its emergence as a global financial powerhouse.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In a resounding signal of confidence in the financial centre\u2019s pivotal role across the global and regional financial landscapes, the world\u2019s largest bank, JP Morgan, reiterated its commitment to the capital in an upgraded licence, to operate its payment and banking business.\u00a0<\/span><\/p>\n<p><b>Jamie Dimon, Chairman and Chief Executive Officer, JP Morgan, <\/b><span style=\"font-weight: 400\">said: \u201cThe determination of the emirate that is forging ahead with its reform agendas is extremely impressive, be it their economic, financial, and social agendas. These are not easy changes but there is clear progress on all fronts towards the goal to create a safe and secure society and a dynamic Falcon Economy. We have continued to add to the team this year and have submitted an application to upgrade our operating licence to a full category one banking entity, signalling our intent and commitment to the size of the opportunity here.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is in addition to the world\u2019s largest independent financial services group, Rothschild &amp; Co, who have expanded their strong two-decade presence across the Emirates via a newly granted ADGM licence as part of the firm\u2019s broader expansion strategy and commitment to the region, and the World Bank renewing their long-term presence in the financial centre.<\/span><\/p>\n<p><b>Saeed Al Awar, Partner and Head of Middle East, Rothschild &amp; Co, <\/b><span style=\"font-weight: 400\">said: \u201cWe are delighted to have received our licensing approvals from ADGM. This is an expansion of our existing presence in the UAE where we have been operating for nearly two decades which reaffirms our commitment to our clients in Abu Dhabi and the UAE and is part of our broader expansion strategy and commitment to the region.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">The attractiveness of ADGM as a holistic financial hub, which stands as the sole jurisdiction in the region to adopt the direct application of English common law, has resulted in renowned global firms establishing themselves in the nation\u2019s capital, including BNY Mellon venture Alpheya, GQG Partners, Joy Capital, Apeiron Group Investments, The Children\u2019s Investment Fund (TCI), Copper, Vibrant Capital, Centricus, and Eiffel Investment. The UAE\u2019s capital international financial centre also recorded six further announcements made by emerging growth firms, bringing the total to 23.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Commenting on the \u201cFalcon Economy\u2019s\u201d impressive flight, <\/span><b>Ray Dalio, Founder, Co-Chairman and Co-Chief Investment Officer, Bridgewater Associates<\/b><span style=\"font-weight: 400\"> said: \u201cWe\u2019re talking today about how the world order is changing, and how Abu Dhabi and the whole GCC region are becoming a renaissance state.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Echoing his fellow fund manager\u2019s sentiment, <\/span><b>Alan Howard, Co-founder, Brevan Howard Asset Management,<\/b><span style=\"font-weight: 400\"> said: \u201cAbu Dhabi\u2019s robust regulation, rule of law and favourable taxation, represent a lure for financial firms moving to the capital of the United Arab Emirates. Out of this place, you can see the Bank of Japan at the beginning of the day and at the end of the day, you can see the Fed. As soon as you get more top hedge funds coming here, that can lead to the banks having to send their best people.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Commenting on Abu Dhabi and ADGM\u2019s positive developments, <\/span><b>H.E. Ahmed Jasim Al Zaabi, Member of Abu Dhabi\u2019s Executive Council &amp; Chairman of the Abu Dhabi Department of Economic Development (ADDED) and ADGM,<\/b><span style=\"font-weight: 400\"> said: \u201cWhat we are witnessing in Abu Dhabi today, with major global players choosing the capital city to base their business operations is proof of a unique global opportunity being seized by future thinking institutions. We warmly welcome their presence and support in the growth and diversification of the \u2018Falcon Economy\u2019. This is the most successful week in ADGM\u2019s history.\u201d\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The market announcements were released during the second edition of Abu Dhabi Finance Week (ADFW) held under the theme \u201cInvesting in the Transition Era\u201d, this edition of ADFW welcomed over 17,000 attendees from over 100 countries.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The flurry of positive announcements surrounding ADFW amplifies ADGM\u2019s effective role as a major contributor to the economic diversification plans of Abu Dhabi.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Abu Dhabi Global Market (ADGM), the leading international financial centre of the UAE\u2019s Capital, today announced 14 major financial institutions representing a total AUM of USD 452bn have committed to establishing new operations in ADGM. A year into Abu Dhabi\u2019s \u201cFalcon Economy\u201d, these announcements, coinciding with the second edition of Abu Dhabi Finance Week (ADFW), [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[91,39,168,19,130,43,87,15],"tags":[2958,2304,1000,367,365],"class_list":["post-2036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arab-countries-en","category-business-economy-en","category-country","category-events-en","category-featured-en","category-finance-investment-en","category-gcc-en","category-press-releases","tag-abu-dhabi-global-market","tag-event","tag-investment","tag-middle-east","tag-uae"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>14 Leading Financial Institutions, Representing Over $450billion, Confirm Setup in Abu Dhabi in One Week - sahfy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sahfy.net\/news\/?p=2036&lang=en\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"14 Leading Financial Institutions, Representing Over $450billion, Confirm Setup in Abu Dhabi in One Week - sahfy\" \/>\n<meta property=\"og:description\" content=\"Abu Dhabi Global Market (ADGM), the leading international financial centre of the UAE\u2019s Capital, today announced 14 major financial institutions representing a total AUM of USD 452bn have committed to establishing new operations in ADGM. A year into Abu Dhabi\u2019s \u201cFalcon Economy\u201d, these announcements, coinciding with the second edition of Abu Dhabi Finance Week (ADFW), [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sahfy.net\/news\/?p=2036&amp;lang=en\" \/>\n<meta property=\"og:site_name\" content=\"sahfy\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-02T10:36:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sahfy.net\/news\/wp-content\/uploads\/2023\/12\/\u0623\u0628\u0648-\u0638\u0628\u064a-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"430\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sahfy Sahfy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u0643\u064f\u062a\u0628 \u0628\u0648\u0627\u0633\u0637\u0629\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sahfy Sahfy\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u0648\u0642\u062a \u0627\u0644\u0642\u0631\u0627\u0621\u0629 \u0627\u0644\u0645\u064f\u0642\u062f\u0651\u0631\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 \u062f\u0642\u0627\u0626\u0642\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sahfy.net\/news\/?p=2036&lang=en#article\",\"isPartOf\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=2036&lang=en\"},\"author\":{\"name\":\"Sahfy Sahfy\",\"@id\":\"https:\/\/sahfy.net\/news\/#\/schema\/person\/e010cfaee71765ed4f2af1e54f173967\"},\"headline\":\"14 Leading Financial Institutions, Representing Over $450billion, Confirm Setup in Abu Dhabi in One Week\",\"datePublished\":\"2023-12-02T10:36:14+00:00\",\"dateModified\":\"2023-12-02T10:36:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sahfy.net\/news\/?p=2036&lang=en\"},\"wordCount\":754,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sahfy.net\/news\/#organization\"},\"keywords\":[\"Abu Dhabi Global Market\",\"event\",\"investment\",\"Middle East\",\"UAE\"],\"articleSection\":[\"Arab countries\",\"Business &amp; 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