Gemcorp Capital, a global asset management firm focused on emerging markets, has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in order to operate in the Abu Dhabi Global Market (ADGM) and has opened a business office in Abu Dhabi.
As one of the international financial centres located in the capital city of the United Arab Emirates (UAE), ADGM serves as a gateway to emerging markets across the GCC, Africa and South Asia.
This license reportedly enables Gemcorp to operate alongside a “diverse” range of local, regional and global businesses at the “crossroads” of the MENA region and the East-West corridor, expanding Gemcorp’s presence and reinforcing its commitment to the region.
Gemcorp has appointed Lord Edward Udny-Lister as Chair of the Board of the newly established local entity and Gaj Wallooppillai OBE as its Head of Middle East.
Atanas Bostandjiev, CEO of Gemcorp, said that receiving the license to operate in ADGM is a key milestone for Gemcorp.
They added that they’ve got various plans in the UAE, and their office in Abu Dhabi will enable them to continue growing and better serve clients and investors internationally.
Arvind Ramamurthy, Chief Market Development Officer, ADGM, said that they now welcome Gemcorp Capital to ADGM, the asset management ecosystem in the region and one of the financial hubs, as they expand their global footprint and presence in the Middle East.
Arvind added that Gemcorp’s focus on emerging markets aligns perfectly with ADGM’s strategic position as a gateway to the MEASA region.
Lord Edward Udny-Lister, Chairman of the newly established local entity, said that Gemcorp is “well-placed” to offer new opportunities to investors across the Middle East, harnessing ADGM’s position as a leading emerging markets investment hub.
They added that none of this would be possible without the vision of the UAE’s leadership which has been “pivotal in transforming it into a global hub for innovation and investment.”
Gaj Wallooppillai OBE, Head of Strategy and Head of Middle East at Gemcorp, said that receiving this license and opening an office in Abu Dhabi enables them to enhance our ability to support both regional and international clients, capitalize on new investment opportunities, and expand their overall business presence in one of the world’s major financial hubs.
