Independent Wealth Mangers – Defining and Refining the Proposition in the UAE

Damian Hitchen of Saxo

Mar 19, 2023

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  • How is the independent wealth management market developing in the UAE? How did the pandemic effect the opportunity?
  • Why did it make sense to set up an office here? – perhaps in addition to Singapore, Hong Kong or Switzerland?
  • Other more mature EAM markets such as Singapore & Hong Kong have an industry “Association” – do we think an industry association would be useful in Dubai / UAE?
  • Who are the target clients, and what specific requirements do they have?
  • What are the regulators and authorities doing to encourage the growth of the independent wealth management community in the UAE?
  • How do traditional wealth managers, such as international or local Private Banks, view this development? Will they collaborate or compete?
  • What is the UAE doing to increase the quality of local private banking platforms? Are we likely to see more custody here in the future rather than local PBs in Switzerland – Singapore etc?
  • Will foreign private banks do more here? Are EAMs forming a larger part of the business for private banks?
  • What services can independent wealth managers offer clients in UAE which are unique? For example local markets and IPO access, gold storage, art ect.
  • Should there be higher hurdles to setting up an EAM/MFO?

 

Chair

Damian Hitchen
Chief Executive Officer, MENA
Saxo Bank

Panel Members

David Doerig
Chief Operating Officer
Corecam

Salman Haider
Chief Executive Officer - Group Wealth Management
Habib Bank AG Zurich

Dean Kemble
Chief Commercial Officer
GSB Capital

Daniel Williams
Managing Partner
Sigma Private Office

 

 

 

For institutional, professional investors and financial intermediaries only and not for retail or public use.

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