Capital Group announced its intention to establish its first office in the Middle East located in ADGM, slated to open later this year pending regulatory approvals.
The Abu Dhabi presence will encompass investment, operational, and client-facing capabilities, reinforcing Capital Group’s commitment to serving clients within the UAE and the wider region. This forthcoming office will be the firm’s 35th worldwide, marking a strategic investment in regional infrastructure aligned with its global operations.
A government official noted the significance of Capital Group’s entry into ADGM, highlighting the increasing preference of global financial institutions for Abu Dhabi as a launch point for regional expansion.
Mike Gitlin, President and CEO of Capital Group, emphasised the firm’s deliberate approach to global expansion, describing the establishment of the Abu Dhabi office as a reflection of their commitment to fostering closer ties with business partners in the Middle East.
The firm is relocating Benno Klingenberg-Timm, who previously headed institutional operations in Europe and Asia, to lead the Abu Dhabi office. Klingenberg-Timm commented, “The UAE [has] established itself as a leading global financial centre, reflecting the strong growth dynamics of the Gulf Cooperation Council (GCC) and the broader region.”
The expansion into Abu Dhabi aligns with the Abu Dhabi Investment Office’s ambitions to cultivate a forward-thinking financial ecosystem through its FinTech, Insurance, Digital and Alternative Assets (FIDA) platform.
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