UK-based wealth management platform Novia Global is set to expand its presence in the Middle East after securing a licence from the Dubai Financial Services Authority.
The approval means that Novia can set up shop in the Dubai International Financial Centre (DIFC).
The new business will be led by Mark Maplesden who has been appointed as principle representative officer.
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Maplesden was previously co-owner of UAE-based advisory firm Maplesden Griffin & Partners.
“Dubai’s economic and investment landscape are impossible to ignore,” said Novia Global chief executive Steve Andrews. “There are over a thousand financial companies in the DIFC, while Dubai is home to over $950 billion in private wealth and set to attract many more high net worth individuals.
“A growing number of advisers and clients want to be a part of this success story, and we see an on-the-ground presence as essential to our own role in helping make that possible,” added Andrews.