BlackRock, the world’s largest asset manager with over $11 trillion in assets, has taken a major step in expanding its regional presence by obtaining a commercial license in Abu Dhabi. The firm plans to operate from the Abu Dhabi Global Market (ADGM) pending regulatory approvals.
This move underscores BlackRock’s commitment to the UAE and its enduring partnerships across the region, cultivated over the past two decades. The company’s new office will bolster its ability to engage with key clients and sectors, including sovereign wealth funds, infrastructure, renewable energy, and technology.
Leadership Updates
Earlier this year, BlackRock appointed Mohammad AlFahim as its Head of UAE operations. In addition, Ben Powell, formerly based elsewhere, has now relocated to the region to serve as BlackRock Investment Institute’s Chief Middle East & APAC Investment Strategist.
Charles Hatami, BlackRock’s Head of the Middle East and Global Head of the Financial & Strategic Investors Group, emphasized the significance of their new base in Abu Dhabi:
“Our presence in ADGM will enable us to better serve our clients around the world on whose behalf we engage with sovereigns, wealth managers, and specialist investment vehicles based in Abu Dhabi, operating in sectors such as infrastructure, renewable energy, and technology.”
This expansion aligns with BlackRock’s strategy of leveraging its global expertise to enhance partnerships with UAE-based entities and contribute to the country’s economic diversification goals.
Broader Implications
BlackRock’s entry into ADGM strengthens Abu Dhabi’s standing as a key financial hub, attracting major global firms to its regulated environment. The firm’s emphasis on sustainable investments and innovation could further enhance the UAE’s focus on renewable energy and technology-driven growth.
