COMMERCIAL NEWS

Capital Group, one of the world’s largest and leading active investment managers, has announced plans to establish its first office in the Middle East, in the UAE’s Abu Dhabi Global Market (ADGM). 

The firm expects the Abu Dhabi office to formally open later this year, subject to regulatory approvals.  

This is a landmark step in Capital Group’s long-term strategy to accelerate growth globally. It reflects the firm’s conviction in the Middle East Region, the UAE and Abu Dhabi as a rapidly evolving and strong financial ecosystem, supported by Abu Dhabi Investment Office (ADIO), the firm said. 

The planned Abu Dhabi location will be Capital Group’s 35th office worldwide, reflecting the firm’s consistent approach to establishing local capabilities that are closely connected to its global platform. As in other markets, the intent is to build steadily over time, aligned with client needs and Capital Group’s long-term investment culture. 

Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Global Market (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. Their decision underscores the value investors place on regulatory certainty, strong institutions and a stable environment for sustainable growth. 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.

Klingenberg-Timm commented: “The UAE has established itself as a leading global financial centre, reflecting the strong growth dynamics of the Gulf Cooperation Council (GCC) 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.” 

Capital Group’s expansion into Abu Dhabi reflects ADIO’s commitment to create a future-facing financial services ecosystem led by ADIO’s FinTech, Insurance, Digital and Alternative Assets (FIDA) platform. 

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, contributing to sustainable growth and a future-ready economy.” - TradeArabia News Service

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