Aberdeen’s founder and chief executive, Martin Gilbert, told The National: “We went to Singapore in 1992 when everybody else was going to Hong Kong, and that’s how I see ADGM now.
“It’s a significant wealth-generating region and can only get bigger, whatever the current economy climate,” Gilbert said.
Australian investment bank Macquarie Capital is also setting up shop in the finance centre, with the firm’s Middle East chief executive, Wissam Moukahal, saying: “We’ve been in Abu Dhabi since 2005 when we were first mandated to help develop industrial infrastructure in Abu Dhabi. I believe in Abu Dhabi’s ability to deliver on this transformational project.”
Closer ties
The ADGM also further established its presence in the global finance world last week with the signing of a memorandum of understanding (MoU) with Luxembourg for Finance (LFF).
Philippe Richard, international affairs director of the Financial Services Regulatory Authority, ADGM, said: “The MoU signed with Luxembourg for Finance, the agency for the development of the financial centre, strengthens the cooperation between the two international financial centres, and will facilitate mutually beneficial developments of the financial services industry in both countries.”
Nicolas Mackel, chief executive of LFF, said: “This MoU marks an important step forward in our on-going collaboration with Abu Dhabi Global Market. We look forward to working more closely with them to share expertise in international financial services activities and products, and facilitate contacts for market operators, university institutions, and financial delegations.”
