Abu dhabi: Capital Group, one of the world's largest active investment managers, has announced plans to establish its first office in the Middle East, located in the Abu Dhabi Global Market (ADGM). The firm anticipates the Abu Dhabi office to formally open later this year, pending regulatory approvals.
According to Emirates News Agency, this move represents a landmark step in Capital Group's long-term strategy to accelerate global growth. It underscores the firm's conviction in the Middle East Region and Abu Dhabi's evolving financial ecosystem, bolstered by the Abu Dhabi Investment Office (ADIO). The new Abu Dhabi location will become Capital Group's 35th office worldwide, showcasing its strategy of building local capabilities connected to its global platform.
Ahmed Jasim Al Zaabi, Chairman of ADGM, welcomed Capital Group's decision, highlighting Abu Dhabi's appeal as a base for long-term regional expansion. He emphasized the value investors place on Abu Dhabi's regulatory certainty, strong institutions, and a stable environment for sustainable growth. Al Zaabi noted that ADGM provides a robust legal framework and access to deep, long-term capital, making it an ideal location for global firms.
Mike Gitlin, President and CEO of Capital Group, expressed the firm's commitment to establishing a presence in Abu Dhabi, emphasizing the importance of being closer to business partners across the Middle East. He also mentioned Capital Group's intent to explore further investments in the region. Benno Klingenberg-Timm, Head of Institutional for Europe and Asia, will be relocating to lead the Abu Dhabi office, acknowledging the UAE's status as a leading global financial center.
Capital Group's expansion aligns with ADIO's goal to create a forward-looking financial services ecosystem through its FinTech, Insurance, Digital, and Alternative Assets (FIDA) platform. Fatima Al Hamadi, Head of the FIDA Cluster, emphasized the importance of building a financial ecosystem in Abu Dhabi to develop high-value financial capabilities and support sustainable growth across the region.
