Taurus Wealth Advisors recently hit $1 billion in assets under management and has applied for a licence to operate in the Middle East with a view to winning more clients there.
Tarek Fadlallah says the Japanese fund house's new Dubai office will focus on institutional clients. A retail business is not on the agenda, but investment staff could be.
The UK fund house is said to have engaged a recruitment firm to help it set up its first branch in the Middle East, joining a list of firms making or planning similar moves.
The UK fund house has agreed to buy 80% of Jakarta-based NISP Asset Management. It is also understood to be planning a branch in the Middle East, as rivals make similar moves.
Gulfmena Investments, which is shifting from asset manager to service provider, is helping a US-Malaysian firm to launch a product in Saudi. It says European AMs are eyeing Dubai.
MAC Capital’s Bob McMillen explains how Dubai’s labyrinthine stock market set-up and twin regulators do not help a country still struggling to emerge from crisis.