Gemcorp Capital (Gemcorp), a global asset management firm specialising in emerging markets, has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) to operate in the Abu Dhabi Global Market (ADGM) and has opened a new office in Abu Dhabi.
Gemcorp said in a statement on 11 October that this licence enabled it to operate alongside a diverse range of local, regional and global businesses at the crossroads of the MENA region and the East-West corridor, further expanding Gemcorp’s presence and reinforcing its commitment to the region.
Gemcorp has appointed Lord Edward Udny-Lister as chairman of the board of the newly established local entity and Gaj Wallooppillai as its head of Middle East.
Atanas Bostandjiev, CEO of Gemcorp, said: “Receiving the licence to operate in ADGM is a significant milestone for Gemcorp. We have exciting plans in the UAE, and our new office in Abu Dhabi will enable us to continue growing and better serve our clients and investors globally. We look forward to the opportunities that being situated in one of the key financial centres for global trade and emerging markets investment will present for Gemcorp.”
Arvind Ramamurthy, chief market development officer, ADGM, said: "We welcome Gemcorp Capital to ADGM, the fastest growing asset management ecosystem in the region and one of the world’s most dynamic financial hubs, as they expand their global footprint and presence in the Middle East. Gemcorp’s focus on emerging markets aligns perfectly with ADGM’s strategic position as a gateway to the MEASA region. Their decision to operate in Abu Dhabi underscores our commitment to fostering a thriving ecosystem that connects international businesses to high-growth markets."
Lord Edward Udny-Lister, chairman of the newly established local entity, said: “With our presence established in ADGM, I am delighted to be continuing my long-standing connection with Abu Dhabi. 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. 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, and I look forward to contributing to this dynamic financial ecosystem.”
Gaj Wallooppillai, head of strategy and head of Middle East at Gemcorp, said: “Receiving this licence and opening an office in Abu Dhabi enables us to enhance our ability to support both regional and international clients, capitalise on new investment opportunities, and further expand our presence in one of the world’s most dynamic financial hubs. Abu Dhabi's unique position as a gateway to emerging markets will unlock new opportunities and aligns perfectly with our long-term growth objectives.”
