ASB Capital, an asset management firm licensed by the Dubai Financial Services Authority, has commenced operations in the Dubai International Financial Centre with an initial $4.5 billion in assets under management. The firm offers wealth and asset management services across public and private markets, as well as investment banking.
Group CEO of Al Salam Bank and Managing Director of ASB Capital, Rafik Nayed, stated that the launch aims to meet the increasing demand from high-net-worth individuals, family offices, and institutional investors for diversified investment strategies in both GCC and international markets. Senior Executive Officer Hichem Djouhri highlighted that establishing ASB Capital in the DIFC positions the firm as a conduit for global capital flows, connecting regional investors with international markets.
ASB Capital plans to expand its assets under management, aspiring to rank among the top 10 asset managers in the region. The firm has secured two active sell-side investment banking mandates in the Middle East and Africa, indicating its commitment to providing specialized advisory services in these dynamic markets.
This development aligns with Al Salam Bank’s broader strategy to diversify operations and revenue streams, aiming to establish a sustainable asset management business within the region’s evolving financial landscape.
