Press release: Wellington Management opens new office in Dubai

Dubai, UAE; 10 January 2024: Wellington Management (“Wellington”), one of the world’s largest independent investment management firms, with more than USD1.1 trillion assets under management globally, has established a new office in Dubai International Financial Centre (DIFC) in the Gate building. In addition, Wellington Management (DIFC) Limited have been granted a Prudential Category 4 Regulatory Licence by the Dubai Financial Services Authority (DFSA).

Wellington has managed assets on behalf of Middle East clients for 29 years from its London office, including for clients and prospects in DIFC and UAE. The new Dubai office is the first step in the firm’s strategy to support clients in their local markets, expand its global footprint in EMEA, and continue its active investment in the region across both public and private markets. Following formal approval and licencing from the DFSA, the Dubai office will form part of its Wellington’s EMEA office footprint, which now includes London, Frankfurt, Luxembourg, Madrid, Milan and Zurich.

Stefan Haselwandter, Vice Chair and Head of Client Platform for Wellington Management said, “Establishing a local presence in the Middle East will help us expand our international reach and accessibility to our clients. 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.  We look forward to working with the DFSA and DIFC Authority as we grow our operations and expand our presence in the region.”

Arif Amiri, Chief Executive Officer of DIFC Authority, commented: “DIFC is delighted to welcome Wellington Management to Dubai and DIFC, from where it will serve existing clients as well as access new clients by tapping into the region’s vast amount of public and private capital.  Wellington is a top 10 Global Asset Manager and will bring nearly a century of investment excellence and talent to DIFC, further enhancing our market leading position as home to 10 of the top 20 Asset Managers in the world.”

The DIFC office will be led by Waleed Al-Rezooqi, who joined Wellington earlier this year as Senior Executive Officer & Director, Middle East, within Wellington’s EMEA Client Group. He is responsible for leading Wellington’s business development and relationship management activities in the Middle East.  Waleed has more than 14 years of experience and was most recently Executive Director for Morgan Stanley Investment Management where he was responsible for originating transactions across public and private markets and managing key relationships with institutional clients in the Middle East.

About Wellington Management

Wellington Management is one of the world’s largest independent investment management firms, serving as a trusted adviser to over 2,500 clients in more than 60 countries. The firm manages more than US$1.1 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients. Wellington aspires to provide excellent service to clients through a unique combination of independence enabled by its distinctive private partnership model, diverse perspectives through its unified, multi-asset investment platform, and relentless curiosity and intellectual rigor fostered by its enduring collaborative culture.

Please note that Wellington Management (DIFC) Limited offers financial services only to Professional Clients and Market Counterparties as defined by the DFSA Rulebook. The information regarding the financial services offered by Wellington Management (DIFC) Limited is not intended for, should not be relied upon by, nor distributed to Retail Clients.

https://www.dfsa.ae/public-register/firms/wellington-management-difc-limited [dfsa.ae]

About Dubai International Financial Centre

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of over 39,000 professionals working across over 4,900 active registered companies – making up the largest and most diverse pool of industry talent in the region. 

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.   

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations. For further information, please visit our website: difc.ae, or follow us on LinkedIn and Twitter @DIFC

For press queries, please contact:

Stacey Willoughby | Wellington EMEA PR

swilloughby@wellington.com  / +44 7504 986 242

Rasha Mezher | Dubai International Financial Centre Authority  
Consultant, Marketing & Corporate Communications
t-rasha.mezher@difc.ae / +9714 3622451

ASDA’A BCW | +9714 4507600  
difc@bcw-global.com