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Beverly Chandler

Quilter Cheviot opens in Dubai

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Discretionary investment management company Quilter Cheviot, part of Old Mutual Wealth, with GBP17.8 billion under management, is opening a representative office in the Dubai International Financial Centre (DIFC) under the business name Quilter Cheviot Limited (DIFC Representative Office).

 The Dubai representative office will be overseen by the company’s Head of International, Tim Childe, who is also Head of the Jersey office. The move to Dubai will enable the firm to capitalise on this growing international business, with Dubai acting as a hub for profile-raising opportunities in the region, the firm says.
 
Tim Childe says: “We believe there is a significant opportunity for us to raise awareness in the Middle East of our discretionary management services offered in Jersey. The new representative office will enable us to expand our reach and take full advantage of these opportunities.
 
“The United Arab Emirates is home to some world-leading intermediaries and we believe our bespoke approach to investment management, combined with our record for performance, will provide an attractive alternative to the services offered by private banks.
 
Mark Leale has taken on the newly appointed role of Head of Dubai Office and Principal Representative, supported by Senior Regional Representative Keith Owen. Between them they have more than 26 years combined experience in wealth management in the Middle East.
 
Mark Leale says: “Consent to open our representative office in the DIFC places us at the very heart of financial services in the Middle East, providing unrivalled access to a network of very high quality intermediaries whom we know we can work with to deliver leading edge investment services to private clients through our Jersey office.”
 
Old Mutual International, part of Old Mutual Wealth, is an established provider in the region, with an office in the DIFC. Brendan Dolan, Regional Director, Middle East and Africa, Old Mutual International, comments: “In Dubai there is strong demand for tailored investment solutions for high net worth investors, and the launch of the Quilter Cheviot representative office has generated significant interest from advisers. High net worth investors will be reassured by Quilter Cheviot’s heritage and award winning research capability and performance.  This fits well with the trend we are seeing in the region for advisers to outsource investment solutions, shifting their business model away from investment selection to the financial planning needs of their clients.”
 
The firm writes that the DIFC is the Middle East’s hub for financial services, providing a robust regulatory framework and a platform for businesses to connect to international marketplaces.All investment management services for international clients will continue to be delivered out of Quilter Cheviot’s Jersey base and will be subject to UK and Channel Island regulations.
 

 

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