Today's Edition
ABU DHABI (ALETIHAD)
Capital Group has announced plans to establish its first office in the Middle East in Abu Dhabi, marking a key step in its global expansion strategy, according to a statement.
The firm said in a statement that the new office, to be located at ADGM, is expected to open later this year, subject to regulatory approvals. It will include investment, operational and client-facing capabilities, reinforcing the company’s long-term commitment to the region.
The Abu Dhabi location will be Capital Group’s 35th office worldwide, reflecting its approach of building local capabilities aligned with client needs and its long-term investment culture.
Ahmed Jasim Al Zaabi, Chairman of ADGM, said: “We are pleased to welcome Capital Group to ADGM as more leading global financial institutions choose Abu Dhabi as the base for their long-term regional expansion. With a robust legal framework and access to deep, long-term capital, ADGM is built to support global firms operating at scale.
"Capital Group’s presence further strengthens Abu Dhabi’s role as a bridge between international capital and regional opportunity, and as a place where enduring partnerships are formed with confidence.”
Mike Gitlin, President and CEO of Capital Group, said: “We take a long-term and deliberate approach to building our global footprint, and we move only when we have high conviction. This is one of those moments. Establishing a presence in Abu Dhabi demonstrates our commitment to being closer to our business partners across the Middle East as well as our intent to explore further investments in this dynamic region.”
Capital Group is relocating Benno Klingenberg-Timm, Head of Institutional for Europe and Asia, to take on the additional responsibility of head of its Abu Dhabi office.
He said: “The UAE has established itself as a leading global financial centre, reflecting the strong growth dynamics of the Gulf Cooperation Council and the broader region. The Middle East is important both as a market in its own right and as a natural gateway connecting Europe, Asia and Africa.”
The expansion is supported by the Abu Dhabi Investment Office, which continues to promote the development of the emirate’s financial services ecosystem.
Fatima Al Hamadi, Head of the FIDA Cluster, said: “Through the FIDA cluster, ADIO is building an integrated financial ecosystem that brings together innovative solutions, digital capabilities and advanced regulatory frameworks, reinforcing Abu Dhabi’s position as a leading global financial centre.
"Capital Group’s expansion in Abu Dhabi reflects the strength and attractiveness of the emirate’s ecosystem for global institutions with long-term ambitions. It also underscores our commitment to enabling strategic investments and enhancing integration across global markets.”
Capital Group manages about $3.3 trillion in assets and operates across 34 offices globally, serving wealth management and institutional clients.
