Insurance broker WTW announced it has received approval from the Dubai Financial Services Authority (DFSA) for a license to operate as WTW Investments (DIFC) Ltd. within the Dubai International Financial Centre (DIFC).
WTW said the approval marks a significant milestone in the company’s strategic expansion across the Middle East and represents a fundamental shift in how the firm can engage with clients and prospects in the region.
For the first time, WTW will be able to proactively arrange access to its full suite of regulated investment capabilities in and from DIFC – transitioning to a locally anchored, scalable platform with direct access to some of the world’s most dynamic and fast-growing investment markets.
The DFSA license positions WTW to proactively offer investment advisory services and arrange access to fund solutions in and from DIFC, opening access to a diverse and expanding range of market segments. These include wealth management, family offices, end-of-service benefits and auto-enrolment – areas experiencing significant growth as the region’s financial landscape continues to mature and professionalize.
The Middle East has been identified as a strategic growth priority for WTW, with the firm committed to deepening its investment in the region’s talent, infrastructure and client partnerships. The license reinforces that commitment with formal regulatory standing, giving existing and prospective clients greater confidence in WTW’s long-term presence and operational permanence in DIFC.
Even ahead of securing local licensing, WTW Investments has had an established business in the Middle East, delivering strategic advisory work to some of the largest sovereign wealth funds and public pension plans in the region.
It has also supported United Arab Emirates, Qatar and Kingdom of Saudi Arabia headquartered global employers with fully integrated International Pension and Savings Plan (IPP/ISP) capabilities spanning strategic investment asset allocation advice, outsourcing and employee experience.
“This license approval is a landmark moment for WTW. We have long recognized the extraordinary depth of opportunity across the Middle East, and we have been building deliberately towards this point – establishing trusted relationships with some of the region’s most sophisticated asset owners and delivering outcomes that speak for themselves,” commented Diya Luke, global head of Investments at WTW.
“WTW Investments’ decision to establish its regional presence in DIFC reflects Dubai’s position as a preferred destination for global wealth and asset management firms. DIFC is home to the region’s largest and most established ecosystem of wealth and asset management companies, providing firms with direct access to regional growth opportunities, capital and clients,” according to His Excellency Arif Amiri, chief executive officer at the Dubai International Financial Centre Authority.
“With more than US$3.6 trillion in assets under advisory and US$187 billion in assets under management, WTW Investments brings significant global expertise in investment advisory and institutional consulting to the DIFC community,” Amiri added.
With an established regulated presence in the DIFC, WTW can build deeper relationships, expanding the range of services it delivers on the ground, while building long-term relationships “with the region’s most influential investors and institutions,” said Dr. Ahmad Waarie, director of WTW Investments (DIFC) and head of MENA at WTW.
Source: WTW