Firms with over $5tn in assets to set up in Abu Dhabi's ADGM

· Politics · United Arab Emirates

Global financial firms with over $5 trillion in assets announced plans to establish a presence in Abu Dhabi Global Market, the UAE capital's international financial centre, in the latest sign of Gulf hubs drawing asset managers away from traditional centres.

Why it matters：The inflows show Gulf financial centres becoming serious competitors for global asset management business.

Key points

  • The firms collectively manage over $5 trillion in assets
  • They plan to establish a presence in ADGM
  • Abu Dhabi is competing with traditional financial centres

Sources (original reporting)

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