UK-based investment consultant Bfinance is the latest overseas firm to spread its global presence to the Middle East.
The UK-based firm is opening an office in Dubai.
The new business will be headed up by managing director Alex Denby who will relocate from London to the UAE. He will be supported by Amir Saleem, director of client consulting.
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The office opening comes on the back of a management buy-out that will bring the firm back into employee ownership with current CEO David Vafai remaining in place.
The Dubai office is the firm’s eleventh location and is designed to capitalise on growth area for Bfinance. Mena-based clients made up roughly 20% of the firm’s revenue in 2023, up from 10% a decade ago.
Another driver has been the growth and development of the shariah investment industry which now includes asset classes such as private credit.
“We believe that investors in [the Mena region] will continue to pursue portfolio diversification and innovation over the coming years,” said Denby.