US-based independent asset manager Lord Abbett has selected Dubai as the location for its Middle East operations.
Lord Abbett (Middle East) has secured approval from the Dubai Financial Services Authority to operate what will be its first office in the region.
The office will operate out of the Dubai International Financial Centre which is already home to around 250 wealth and asset managers overseeing more than $450 billion in assets under management.
“We are delighted to launch our MEA business within DIFC,” said James Savastano, senior executive officer and head of MEA at Lord Abbett.
“This strategic hub will allow us to serve our regional client base even better by operating closer to them, while also bringing the full breadth of Lord Abbett’s investment capabilities to the Middle East market,” he added.
©2022 funds global mena