WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company, today announced that it has received approval from the Dubai Financial Services Authority (DFSA) for a licence to operate as WTW Investments (DIFC) Limited within Dubai International Financial Centre (DIFC).<\/p>\n
The approval marks a significant milestone in WTW\u2019s 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 \u2013 transitioning to a locally anchored, scalable platform with direct access to some of the world\u2019s most dynamic and fast-growing investment markets.<\/p>\n
The DFSA licence 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 \u2013 areas experiencing significant growth as the region\u2019s financial landscape continues to mature and professionalise.<\/p>\n
The announcement builds on a strong foundation for WTW in the region. 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.<\/p>\n
Diya Luke, Global Head of Investments at WTW, said:<\/strong><\/p>\n \u201cThis Licence approval is a landmark moment for WTW. We have long recognised the extraordinary depth of opportunity across the Middle East, and we have been building deliberately towards this point \u2013 establishing trusted relationships with some of the region\u2019s most sophisticated asset owners and delivering outcomes that speak for themselves. With the DFSA licence now in place we can fully engage the market with wealth managers, family offices and institutional clients who increasingly require the calibre of thinking and innovation that WTW is known for.\u201d<\/p>\n His Excellency Arif Amiri, Chief Executive Officer at the Dubai International Financial Centre Authority<\/strong>\u00a0said:<\/strong><\/p>\n \u201cWTW Investments\u2019 decision to establish its regional presence in DIFC reflects Dubai\u2019s position as a preferred destination for global wealth and asset management firms. DIFC is home to the region\u2019s largest and most established ecosystem of wealth and asset management companies, providing firms with direct access to regional growth opportunities, capital and clients.<\/p>\n