DWS Group to Open First Middle East Office in Abu Dhabi

DWS Group, a subsidiary of Deutsche Bank, has announced plans to establish its first office in the Middle East at the Abu Dhabi Global Market (ADGM). The office is expected to commence operations later this year, providing services to clients in the region. The move is part of DWS's broader strategy to expand its global footprint and tap into the growing investment opportunities in the Middle East.

The decision to set up an office in Abu Dhabi aligns with the region's increasing attractiveness to global asset management firms. Abu Dhabi has been actively courting international financial institutions, offering a favorable regulatory environment and robust infrastructure. DWS's presence in the region is expected to enhance its ability to serve clients in the Middle East, providing them with access to a wide range of investment solutions and expertise.

DWS's Chief Executive Officer has stated that the company will begin serving clients from the Abu Dhabi office later this year. The company has already received interest from approximately a dozen employees who have expressed a desire to relocate to Abu Dhabi. DWS will dispatch a specialist responsible for Middle East operations to the new office and support other employees who wish to transfer.

In recent years, Abu Dhabi has successfully attracted several major global asset management firms. DWS is the latest in a series of firms to establish a presence in the ADGM. In June, Partners Group, a Swiss asset management firm with 150 billion euros in assets, set up its regional headquarters in ADGM. Harrison Street, a U.S. real estate and infrastructure investment firm with 56 billion euros in assets, also established an office in the region the same month. Earlier, Patrizia, a German asset management company with approximately 55 billion euros in assets, received approval to conduct real estate investment and advisory services in Abu Dhabi. BlackRock, the world's largest asset management firm with over 12 trillion euros in assets, obtained a commercial operating license from ADGM in November of last year.

DWS's expansion into the Middle East is a strategic move that will enhance its presence in the region and provide clients with access to a wide range of investment solutions. The office will be staffed by a team of experienced professionals who will work closely with DWS's global network to deliver tailored investment solutions. This move is part of DWS's broader strategy to expand its global footprint and tap into the growing investment opportunities in the Middle East.