Global banking giant Goldman Sachs is set to open an office in Abu Dhabi as part of plans to expand in the Middle East and North Africa, according to local media reports.
The office, which will be located in the Abu Dhabi Global Market (ADGM), is awaiting final regulatory approval.
The Abu Dhabi office will be Goldman Sachs’ first in the capital and the second in UAE after the Dubai International Financial Centre (DIFC).
Newspaper The National reported on an internal memo, which said: “The new office will complement the firm’s growing regional presence alongside our offices in Dubai, Doha and Riyadh, allowing us to deepen relationships with clients and meet them where they are.
“We continue to see tremendous opportunities in the Middle East and remain committed to enhancing our presence and capabilities to serve the increasingly sophisticated and diverse client base in the region.”
The report comes after the ADGM announced plans to increase its jurisdiction as a financial free zone to Al Reem Island, adjacent to its current home of Al Maryah Island, following increased demand from companies.
