DWS Group, the investment arm of Deutsche Bank AG, has received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The approval allows DWS to operate as a Category 4 regulated firm, marking a significant step in its global expansion strategy.
Expanding Through Abu Dhabi’s Financial Ecosystem
With over €1.01 trillion (approximately US$1.18 trillion) in assets under management and around 4,800 employees worldwide, DWS delivers tailored investment solutions across various disciplines. The firm’s new office will serve as its regional base, operating under ADGM’s progressive regulatory framework and supported by the Abu Dhabi Investment Office (ADIO).
DWS CEO Stefan Hoops stated, “The Middle East is a strategic growth area for DWS as we look to capitalise on our position as the gateway to Europe, linking clients, markets and opportunities across borders in a region that is future-focused and highly sophisticated.”
Emphasising ADGM’s role, Arvind Ramamurthy, Chief Market Development Officer at ADGM, said, “We congratulate DWS, one of the world’s leading asset managers, on receiving their FSP. This milestone reflects both the firm’s ambition and the strength of ADGM’s robust, progressive, and internationally recognised regulatory framework.”
Strengthening Regional Ties and Leadership
Joe Kiwan, DWS’s Head of Middle East & Africa coverage, will relocate from Paris to lead the firm’s first office in the region. His focus will include regional strategy, client partnerships, and business development.
The move also builds on Deutsche Bank’s 25-year presence in the UAE. Since opening its first Abu Dhabi office in 1999, the bank has expanded to four legal entities across the country, including the newly licensed ADGM entity.
Khalifa Al Mahmoud, Acting Director of Investor Attraction at ADIO, noted, “The establishment of DWS’s first presence in the MENA region in Abu Dhabi underscores the emirate’s enduring role as a predominant centre of capital and connectivity. We are proud to have supported DWS in marking its entry into the region.”
Earlier this year, Deutsche Bank also received its own financial services permission from the FSRA, enabling it to conduct regulated activities such as arranging investments, credit facilities, and advisory services.
Through this expansion, DWS reinforces Abu Dhabi’s growing status as a hub for global asset management and highlights the emirate’s ability to attract world-class financial institutions seeking to connect with investors across the Middle East and beyond.
