The UAE’s securities watchdog has issued Allied Investment Partners (AIP) with a number of licences allowing it to offer a range of investment services.
Five separate licences were approved by the Emirates Securities and Commodities Authority (ESCA), covering portfolio management, mutual fund management, financial advisory and consulting and the promotion of financial products.
As a consequence of the licence-awarding, AIP has recruited a team of investment professionals and now intends to partner with global and regional banks to offer wealth management services to high net worth individuals.
It also plans to explore a number of equity investment acquisitions and to become an active advisor in corporate finance, M&A and private placements.
“Being regulated by the ESCA provides both shareholders and investors the assurance that AIP is committing to the highest level of transparency, ethics, and governance,” said Shailesh Dash, board member of AIP.
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