Quilter Cheviot’s Dubai office has successfully secured a Category 4 licence, having previously operated within the DIFC (Dubai International Financial Centre) as a representative office.
The new licence will allow the team to advise and on board new clients and service relationships on the ground, giving the team increased interaction with those interested in the firm’s investment management services.
The Dubai Financial Services Authority has also granted Quilter Cheviot’s Dubai office a retail endorsement to its licence, allowing the local team to assist a cross-section of both professional and retail clients. The license upgrade will also allow the team to work more closely with IFA partners.
“After three successful years in the region I am delighted that we have obtained a Category 4 licence. Investors in the Middle East are now far more knowledgeable about their investments, and pleasingly many are opting for the services of a discretionary fund manager to help them meet their financial goals. To now be able to advise clients on their investments and work more closely with the financial adviser community will undoubtedly help us to build stronger relationships with them,” said Head of Quilter Cheviot’s Dubai Office, Mark Leale.
The firm’s Dubai representative office opened in April 2016, with Mark Leale and Regional Development Manager, Keith Owen, based there full time. Both Mark and Keith have a combined 34 years’ experience in the region.
Whilst investors in the DIFC will now be able to speak directly to the Dubai office, the portfolios will continue to be looked after by highly experienced investment managers in Quilter Cheviot’s Jersey office.
“We have seen great success in the region, and will look to continue building relationships with financial advisers, private clients, family offices and professional service providers. All our clients benefit from the service of having a fully qualified investment manager as their relationship manager, and each portfolio is tailored to meet their own unique circumstances,” Mark added.
Quilter Cheviot is headquartered in London, with 12 offices across the UK, Ireland and Jersey. Parent company Quilter plc is a leading global wealth management business listed in the UK.