Introduction
AllianceBernstein L.P. (AB), a global investment firm managing nearly USD 700 billion in assets, has obtained a Category 4 License from the Dubai Financial Services Authority (DFSA). This milestone allows AB to conduct financial services within or from the Dubai International Financial Centre (DIFC), solidifying its position in the region’s financial market and demonstrating its commitment to expanding operations in the Middle East.
Joining the Prominent Financial Hub
AllianceBernstein Joins Global Asset Management Firms in DIFC DIFC, recognized as the leading financial center in the Middle East, Africa, and South Asia (MEASA) region, attracts a growing number of global asset management firms. The Category 4 License granted by DFSA ensures regulatory compliance and authorizes AB to conduct financial activities.
Strengthening the Middle East Presence Appointment of Jean-Paul Hobeika as Senior Executive Officer
To enhance its regional presence, AB has appointed Jean-Paul Hobeika, Managing Director – Middle East Institutions, as the Senior Executive Officer. Hobeika, who joined AB in August 2022, will collaborate closely with Eduard van Nes, Head of Intermediary Sales Middle East & Africa, to meet the evolving needs of clients in the Middle East.
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Enhanced Access to Asset Management Services New Office in DIFC Benefits Investors
AB’s new office in DIFC provides improved access to its asset management services for institutional clients, distribution partners, and family offices. AB’s experienced professionals work closely with clients to deliver tailored investment solutions aligned with their unique financial goals.
Embracing Growth Opportunities Willem van Gijzen’s Enthusiasm for Market Potential
Willem van Gijzen, Head of CEMEA Institutions at AllianceBernstein, expresses enthusiasm for the growth opportunities the license brings. The Middle East represents a significant market for AB, and the DIFC office enables better client service and the ability to seize market opportunities.
Delivering Exceptional Value Jean-Paul Hobeika’s Commitment to Investors
Jean-Paul Hobeika, Senior Executive Officer and Managing Director Middle East Institutions at AllianceBernstein, is excited to bring AB’s expertise and investment solutions to the region. AB’s commitment to delivering exceptional value sets it apart in the highly competitive market, positioning the company as a leading player in the region’s financial industry.
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Dubai’s Strategic Position Arif Amiri Welcomes AB to DIFC
Arif Amiri, Chief Executive Officer at DIFC Authority, welcomes AB to DIFC and highlights Dubai’s strategic position as a global financial hub. AB gains access to the vast private wealth in the Middle East, Africa, and South Asia, estimated at around USD 8 trillion, leveraging significant growth opportunities. DIFC’s ecosystem of over 300 Wealth and Asset Management firms and a talented pool of professionals further support AB’s operations.
Conclusion
AB’s acquisition of the Category 4 License and establishment of its DIFC office mark a significant expansion of the firm’s operations in the Middle East. With a strong commitment to innovation, expertise, and client-centricity, AB is poised to become a leading player in the region’s financial industry. The strategic positioning of DIFC, combined with a robust regulatory framework, provides an ideal platform for AB to cater to a diverse range of clients and capitalize on exponential growth opportunities
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