US-based independent investment firm Wellington Management has expanded its presence in the Middle East with the opening of an office in Dubai.
The new premises are located in the Dubai International Financial Centre (DIFC). Wellington has also been a granted a prudential category 4 regulatory licence by the Dubai Financial Services Authority.
According to Wellington, the move is part of a strategy to strengthen its international presence by opening offices abroad.
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The firm’s EMEA presence already includes London, Frankfurt, Luxembourg, Madrid, Milan and Zurich.
“Establishing a local presence in the Middle East will help us expand our international reach and accessibility to our clients,” said Stefan Haselwandter, vice chair and head of client platform for Wellington Management.
“As markets evolve and become more complex, we believe staying close to clients and being available to them in their home markets is of critical importance.”