Swiss banking behemoth UBS is opening a new Abu Dhabi office, its latest step in strategic expansion throughout the Middle East. As more high-net-worth clients move to or invest in the region, the new office further highlights the bank’s desire to be near its core clientele.
UBS already enjoys a dominant regional presence with offices in Dubai, Riyadh, Qatar, and Bahrain. The new Abu Dhabi branch will allow the bank to deliver more localized wealth management services, investment advisory, and institutional banking solutions in the UAE’s capital city.
The growth occurs amid a regional boom in financial activity, as Middle Eastern markets draw international investors due to diversification of economies, pro-market regulations, and high-growth prospects across sectors such as tech, energy, and infrastructure.
UBS’s move is an indication of increasing faith in Abu Dhabi as a global financial hub, and its increasing popularity as an international base of preference for wealth and asset managers. The move also underlines the UAE’s vision to emerge as a regional leading destination for financial excellence.
