‘Unparalleled demand’ from US firms looking to move talent to Dubai, says DIFC Governor

The financial centre says it has generated a new wave of interest in Dubai from US financial services companies keen to access regional opportunities by having a presence in the Centre.

A senior delegation, led by Kazim, met with prospective and existing clients as well as industry bodies in New York and San Francisco.

The group highlighted Dubai’s role as a regional business hub, DIFC’s English common law platform and talent ecosystem.

DIFC, Standard Chartered Bank and the US-UAE Business Council hosted a discussion on Dubai’s role as a global business hub and the efficacy of the centre’s platform in attracting top firms and talent.

The event highlighted the $23 billion (AED84.5 billion) US-UAE bilateral trade relationship, along with the UAE and Dubai’s role as centres for commerce.

The DIFC Governor said: “The unparalleled demand from US firms seeking to move their finest talent to Dubai reinforces the depth of the region’s markets.

“Dubai’s reputation as a global hub for talent and innovation makes the Emirate the top destination for US organisations seeking this regional growth.”

He added that US firms have been choosing DIFC as their preferred location since its establishment in 2004 and it now accounts for 9 percent of its financial services clients.

“Our first official trip to the US since the pandemic has generated particular interest from wealth and asset management and fintech firms, which are relocating talent to Dubai and DIFC.

“We will continue to deepen these strategic partnerships to help our US clients realise their growth aspirations and to contribute to the growth of our economy.”

DIFC banks hold approximately $200 billion of assets from the Centre while the centre’s Asset Managers currently oversee more than $450 billion of AUM.

The financial centre is home to top global banks, asset managers along with advisory, global law and accounting firms.