Indian wealth firm targets Middle East with DIFC hub
The move follows Ambit's strategic acquisition of Dubai-based Moonrock Investments Ltd in November 2024, signalling the Indian wealth management powerhouse's ambition to go global.
The new entity, Ambit Global Private Client (Mena) Limited, merges Ambit's institutional-grade expertise with Moonrock's regional clout, aiming to serve ultra-high-net-worth (UHNW) individuals and family offices across the region. Ambit GPC, a subsidiary of Mumbai-based Ambit Private Limited, already manages over $9 billion in assets under management and advice (AUM&A) for more than 1,000 of India's wealthiest families.
Ambit's entry into Dubai taps into the Middle East's financial pulse, leveraging DIFC's status as a global hub. The expansion reflects a broader trend of Indian financial firms eyeing global growth amid India's economic surge. By blending Ambit's sophisticated advisory with Moonrock's local know-how, the firm is poised to attract non-resident Indians, foreign nationals, and regional family offices, the company said.
'Our foray into the Middle East marks a pivotal step in transforming Ambit into an international wealth management brand,' said Ashok Wadhwa, group CEO of Ambit. 'As Indian wealth goes global, we're here to deliver seamless, world-class solutions—wherever our clients are.'
The acquisition of Moonrock, regulated by the Dubai Financial Services Authority (DFSA), brings Ambit's acclaimed research, discretionary portfolio management strategies, and innovative direct deal offerings to a new market. It also caters to a growing appetite among Indian residents for offshore investments and the Indian diaspora's interest in tapping India's booming markets.
'DIFC aligns with our vision of empowering clients to think and act globally,' said Amrita Farmahan, CEO of Ambit GPC. 'Our platform bridges Indian and international markets with unique perspectives, and we're thrilled to build lasting relationships here.'
Leading the Dubai charge are Digvijay Singh, a 20-year veteran of private banking with stints in India and Dubai, and Shanti Kaliappan, a wealth management expert and former senior executive officer at Moonrock. Their team will offer tailored solutions across asset classes, staying true to Ambit's mantra: 'Wisdom is the ultimate wealth.'
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