21-05-2025
Deutsche Bank secures ADGM license, expanding presence in UAE
Deutsche Bank has secured a license to operate in the Abu Dhabi Global Market (ADGM) the city's financial center, and home to multiple sovereign wealth funds.
Jean-Pierre Habis has been appointed as a senior manager for the new ADGM branch, Deutsche Bank said in a statement.
The license allows the bank to engage in arranging, and advising on investment and credit deals.
Jamal Al Kishi, Chief Executive Officer (CEO) for Middle East and Africa (MEA) said: 'Receiving this license is an important step in our strategy to better meet the evolving needs of our clients in the UAE and across the region.
Banks, along with hedge funds, private equity firms, and asset managers have in recent years been making a beeline to the city which has been dubbed 'the capital of capital.' Global names such as BlackRock, Polen Capital, PGIM, Nuveen, General Atlantic, Lone Star Funds, Investindustrial, Marshall Wace, AXA IM, Eiffel Investment ME, GQG Partners, SS&C Financial Services and Morgan Stanley set up in Abu Dhabi last year.
(Writing by Brinda Darasha; editing by Daniel Luiz)
