US-headquartered asset manager Lord Abbett has received approval from the Dubai Financial Services Authority (DFSA) to open an office in the Dubai International Financial Centre (DIFC).
It will be Lord Abbett’s first and only Middle East office.
The firm offers a range of investment products including model portfolios and mutual funds.
James Savastano, senior executive officer and head of Middle East and Africa (MEA) at Lord Abbett, said: “We are delighted to launch our MEA business within DIFC.
“This strategic hub will allow us to serve our regional client base even better by operating closer to them, while also bringing the full breadth of Lord Abbett’s investment capabilities to the Middle East market.”
Lord Abbett has offices in Jersey City, Dublin, London, Paris, Zurich, Dubai, Montevideo and Tokyo.