Bringing you live news and features since 2006 

Dubai_0

SMP Partners opens representative office in Dubai

RELATED TOPICS​

The SMP Partners Group has expanded its global network with the opening of a representative office in Dubai.

The long-established trust and corporate service provider officially opened the doors of its new representative office in the United Arab Emirates on 24 April.
 
Alongside its presence in Dubai’s Emirates Tower, the group has offices in Zurich and Hong Kong, as well as its headquarters in the Isle of Man.
 
The SMP Partners Group of companies comprises the provision of trust and company services, a large accounting and tax practice, fund administration services and ancillary administrative services. Employing more than 180 people around the world, including 160 on the island, SMP is the largest trust and corporate service providers in the Isle of Man.
 
The Dubai presence will be a representative office for one of these group companies, SMP Trustees, which provides trustee and related administration services to private and corporate clients around the world.
 
Group chairman Steve McGowan says: “SMP Trustees is delighted to be starting a new adventure in Dubai with a new representative office. Dubai has positioned itself to be world-class and a world-leader in many industries. Our industry relates to professional services within the wealth management sectors, and Dubai is a very attractive location for a group like SMP.
 
“The Dubai office has been established for relationship purposes only at this stage. It will not undertake any financial services or regulated activity onshore in the UAE or the Dubai International Financial Centre.
 
“At SMP we have a number of relationships with Dubai-based financial and professional firms and to enable us to develop these relationships further, the Dubai representative office, importantly, will allow us to assess the long-term viability and nature of a formal presence in Dubai.”
 
The opening of the new representative office follows a partnership agreement signed between the Dubai Department of Economic Development and the Isle of Man Government in 2012 and a recent visit by a Dubai Investment Development Agency delegation to the Island.
 
Fahad Al Gergawi, chief executive officer of Dubai FDI, says: “Services have emerged into a strong component of Dubai economy and the trend is here to stay with the ongoing diversification strategy. The key sectors promoted by Dubai as drivers of sustainable economic development and the arrival of Expo 2020 will create stronger demand for globally trusted financial services.
 
“We consider it a major milestone that SMP Partners Group chose Dubai to grow further. It goes a long way in bringing world-class resources to Dubai and offers SMP Partners with the best links to a consumer market of over 2.2 billion spread across the Middle East, North and East Africa and South Asia.”

Latest News

Amundi’s ETF Market Flows Analysis for May finds that global ETF inflows were EUR105.1 billion with US-domiciled equity funds accounting..
MerQube has announced the appointment of Dave Mueller as Chief Financial Officer. Mueller brings 17 years experience operating in corporate..
Northern Trust Asset Management (NTAM), has announced that David Abner is joining as Head of Global ETFs and Funds...
Nvidia’s market cap surge to more than USD3 trillion making it the second most valuable company in the world almost..

Related Articles

CN Tower, Toronto
The winners were announced in the second ETF Express Canadian awards at the event held at The Quay in Toronto,...
Darren Johnson, Komainu
Custody specialist, Komainu, was launched in 2018 as a joint venture between Nomura, digital-asset investment manager, CoinShares and blockchain business,...
Stuart Chaussee
In January this year, global data and business intelligence platform, Statista reported that there are now more than 8000 ETFs...
Ethereum coin
Last week saw Australia launch spot bitcoin ETFs, with Matteo Greco, Research Analyst at Fineqia International, writing that Monochrome Asset...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by