Ambit, a leading India-based financial advisory for ultra-high-net-worth individuals (UHNWIs) and Family Offices, announced its expansion into the UAE with the opening of the Ambit Global Private Client (Ambit GPC) office in Dubai.
The newly UAE unit, located in Dubai International Financial Centre (DIFC), is a 100 per cent-owned arm of Ambit GPC, the company said.
Ambit GPC, with over $9 billion of overall assets under management and advice (AUM&A), provides institutional-quality research and discretionary PMS strategies, innovative ‘Direct Deal’ vertical and holistic wealth management services.
The new entity, Ambit Global Private Client (MENA) Limited, is the result of a strategic acquisition of Moonrock Investments Ltd by Ambit.
Moonrock, a Dubai Financial Services Authority (DFSA) regulated and DIFC-registered wealth management firm, was acquired by Ambit in November 2024.
This acquisition combines Ambit’s expertise in wealth management with Moonrock’s strong local presence and proven capabilities, delivering mutual benefits by creating a platform that caters to a diverse clientele, including non-resident Indians (NRIs), foreign nationals and Family Offices, the company said in a media release.
Ashok Wadhwa, Group CEO, Ambit, said the foray into the Middle East is a significant step in Ambit’s transformation into an international wealth management brand.
“India’s economic growth presents a significant opportunity and we are positioning ourselves to offer the necessary expertise and platform to navigate both sides. As Indian wealth becomes increasingly global, we are committed to providing our clients with seamless access to world-class financial solutions, wherever they are,” he said.
Amrita Farmahan, CEO, Ambit Global Private Client, said the company’s UAE expansion move is a recognition of the growing demand from resident Indians to invest offshore, and equally the strong interest from the Indian diaspora and international investors to access the Indian markets.
“At Ambit GPC, our integrated wealth management platform seamlessly bridges Indian and International markets, providing clients with our unique perspectives,” she said.
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