Canaccord Wealth (Canaccord), a top ten UK integrated wealth manager by assets under management, is expanding its international footprint by opening a permanent office in the Middle East.
Canaccord said in a statement today (5 March) it has been granted a Category Four Investment Advisor Licence and will operate from its new office in Dubai’s DIFC.
Senior executive officer Richard Burden (pictured) has 30 years’ experience working across the Middle East and has recently re-located to Dubai.
The decision to enhance its offering in the region represents another step forward in Canaccord’s "ambitious growth plans" and comes just days after the wealth manager formally completed the acquisition of the Brooks MacDonald International business in Guernsey, the Isle of Man, and Jersey.
Canaccord already has a branch in Singapore serving clients in South East Asia, which opened in 2018.
CEO of Canaccord Wealth, David Esfandi said: “I’ve spent quite a lot of time in the Middle East recently and from the early conversations I am having, this move represents a massive opportunity for us, an opportunity that matches our ambitious growth plans.
“We want to increase our presence and footprint in the Middle East, and I am delighted that we now have a permanent base to serve clients who want a wealth manager that goes above and beyond.”
Andy Finch, CEO of Canaccord Wealth’s international business said: “This is a very exciting time as we continue on our growth trajectory.
“With a strong, established presence in the UK, Guernsey, the Isle of Man, and Jersey, our office in Dubai’s DIFC puts us in an even stronger position to support clients across borders. We are very well positioned to work with expats and international clients who want to grow their wealth with confidence.”
“We see many opportunities in the Middle East and now we can discuss, with clients and connections, our centralised investment philosophy from a regulated base. I am looking forward to seeing what we can achieve in the coming months.”
Burden said: “We already have strong relationships with intermediaries and clients in the region. I am looking forward to strengthening those connections.”
