Dubai: ASB Capital, an asset management firm licensed by the Dubai Financial Services Authority (DFSA), has officially commenced its operations in the Dubai International Financial Centre (DIFC) with an initial asset under management (AUM) of $4.5 billion. The firm aims to provide a range of wealth and asset management solutions, including services in public markets, private markets, and investment banking.
According to Emirates News Agency, the launch represents a significant milestone for ASB Capital, as expressed by Rafik Nayed, the Group CEO of Al Salam Bank and Managing Director of ASB Capital. Nayed highlighted the firm’s strategic aim to establish a new standard in the wealth and asset management sector. He noted that the firm is uniquely positioned to meet the needs of high-net-worth individuals, family offices, and institutional investors in the region who are seeking diverse and tailored investment strategies. These strategies are intended to facilitate access to high-growth markets within the GCC and provide exposure to international opportunities.
Nayed emphasized ASB Capital’s commitment to offering bespoke solutions that drive sustainable growth and long-term value by connecting regional opportunities with global investors and vice versa. He stated that ASB Capital is designed to serve a sophisticated client base with multi-asset strategies aligned with evolving financial goals. This initiative reflects the firm’s dedication to establishing an independent, trusted wealth management platform, leveraging the legacy of Al Salam Bank to deliver value to both regional and global investors.
Hichem Djouhri, Senior Executive Officer of ASB Capital, remarked on the significance of launching in the DIFC, reinforcing the firm’s role as a crucial gateway for global capital flows. He stated that ASB Capital aims to bridge regional investors with international markets through its expertise in combining regional knowledge with a global reach. This, Djouhri noted, will contribute to the creation of transformative investment solutions for local and global investors alike, aligning with the DIFC’s vision of shaping the future of finance.
