A new Middle Eastern industry association for the investment management industry has been launched which is open not just to investment management firms but professional companies such as lawyers, advisers to the investment sector and wealth managers.
The Middle East Investment Management Association (MEIMA) will serve as the representative body and ideas hub for a sector that is a cornerstone of the Middle East economy and will be also the first of its kind regional institution in the Middle East region.
MEIMA will be a membership-based association with the mission to support, champion and advance the growth and development of the asset management industry in the region.
The association's broad objectives are:
• To be the voice of the industry for all stakeholders who have a stake in improving the MENA Investment Management from ADGM, DIFC, onshore UAE, GCC/MENA and non-UAE regulated asset managers.
• To engage with regulators to drive a competitive and compliant regional asset management operating environment
• To assist international members to establish their firms in the region
• To create an inclusive environment where the wider ecosystem of asset owners, asset managers, service firms and others can be brought together to network, collaborate, and learn from each other
• To ensure the highest levels of stewardship and governance
• To creating an encouraging environment for developing and incorporating innovation into our business models.
• To assist and support members to achieve the best results for their customers, and to grow their business.
• To drive a progressive people agenda in the industry to ensure the highest levels of professionalism and talent
Founding members of MEIMA include senior executives from AD Global Investors Limited, Apex Group, Azimut (ME) Ltd, Digital Spring Ventures LLP, AD Investment Management Limited, Freedom Asset Management Limited, Northern Trust Corporation and Aarna Capital Limited.
MEIMA is registered with and established at Abu Dhabi Global Market (ADGM), the international financial center in Abu Dhabi, capital of the UAE.
David Rothon, chairman of MEIMA and CEO at AD Global Investors Limited, said: "MEIMA has been founded with a vision to create a bigger investment marketplace across the MENA region, to improve liquidity, to make it easier to invest region wide and to bring industry professionals together.
"This association will become a focus point for the investment industry, driving best practice, raising levels of service and execution, and working together to improve the regional environment for asset management."
Maroun Jalkh, chair of the membership, events and communications sub-committee of MEIMA and CEO at Azimut (ME) said: "Having spoken to so many investment management companies in the Middle East it's clear there is a need for an organization like MEIMA. Membership is open not just to investment management firms but professional companies like lawyers, advisers to the investment sector and wealth managers, and the like. Networking and better engagement with regulators are the two main reasons why firms we have spoken to wish to join MEIMA"
On the incorporation of MEIMA, Dhaher Bin Dhaher, CEO of the Registration Authority of ADGM added, "We welcome MEIMA into the Abu Dhabi ecosystem and extend our congratulations to the association on its inception. ADGM is pleased to be the destination of choice and home jurisdiction for MEIMA, the first of its kind in the region.
"Over the years, Abu Dhabi's pioneering leadership, strong physical connectivity, robust trade, and financial linkages, and progressive regulations have successfully drew in numerous global investment firms, allowed companies and capital to meet, and enabled investors to prosper.
"As the International Financial Centre in Abu Dhabi, ADGM is home to dynamic companies with varying fundraising needs, and as and a premier hub for solutions in investment risk management, ADGM provides a strategic vantage point for asset and fund managers seeking innovative solutions and business vehicles to manage investments in the UAE and the wider region.
"We will continue to support MEIMA and its members in fulfilling their mission, and together, foster a more vibrant ecosystem for asset management, private equity, and venture capital in the region."
