Barings joins the migration to Dubai

Barings has become the latest global asset manager to expand into the Mena market.

The US-based firm with more than US$400 billion in assets under management has opened an office in Dubai.

It will be led by Waleed Zamel who will be in charge of distribution for the Dubai business. He has previously worked for a combination of banks, asset managers and sovereign wealth funds in the region.

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These include Amundi, Abi Dhabi Investment Authority and Standard Chartered Bank.

“The opening of our Dubai office affirms our commitment to the region, ambitions for future growth, and underscores our belief in the importance of a local, on the ground presence to best serve our clients, and provide long term asset management across a variety of privately originated and public market investment opportunities,” said Mike Freno, Barings chairman and CEO.

Barings joins a host of global asset managers and hedge funds that have set up shop in the region in the last 12 months.

The list includes the likes of Franklin Templeton, Rotchschild & Co, Morgan Stanley and Fiera Capital. And last week PGIM, the asset management arm of US life insurer Prudential Financial, announced plans to establish its first office in the Middle East

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