Data provider eVestment has opened an office in Dubai Internet City, its first base in the Middle East.
Wissem Souissi will lead the office for the US-based firm, which provides reporting and analysis, especially for providers of alternative products such as hedge funds.
“While Dubai and the Middle East are not yet major centres for hedge funds and other alternative investments, Dubai recently eased restrictions on asset managers operating in the Dubai International Financial Centre,” says the firm in a statement.
“This is seen by some experts as a bid to attract more hedge, private equity and other alternative funds to the area.”
Souissi says the upgrades of Qatar and UAE to emerging market status, the planned opening of the Saudi Tadawul and the “flourishing” South African financial market encouraged eVestment to open the Middle East office. It is common for firms to cover South Africa from Dubai because of good transport links.
Before he became vice president of the Middle East and Africa region for eVestment, Souissi worked for both eFront and Moody’s Analytics.
“We have been covering this region from our London office, but the time is right to establish a local presence that will allow us to be closer to clients and to this growing investment market,” says Souissi.
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