Ambit, an India-based financial advisory firm, has launched the Ambit Global Private Client (Ambit GPC) office at the Dubai International Financial Centre (DIFC) in Dubai, UAE.
The opening of Ambit Global Private Client (MENA) Limited follows Ambit Private Limited’s acquisition of Moonrock Investments, a wealth management firm regulated by the Dubai Financial Services Authority (DFSA), in November 2024.
Ambit GPC offers tailored financial solutions to ultra-high-net-worth individuals (UHNW) and family offices.
It manages more than $9bn in assets under management and advice (AUM&A) and serves over 1,000 UHNW clients, primarily from affluent families in India.
Ambit GPC CEO Amrita Farmahan said: “We are excited to expand our presence to DIFC, a global financial hub that aligns with our vision of empowering clients to think and act globally.
“We recognise 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.”
The new office in Dubai is expected to cater to a diverse clientele, including non-resident Indians, foreign nationals, and family offices, aligning with Ambit GPC’s philosophy that “Wisdom is the Ultimate Wealth.”
The Dubai leadership team will include Digvijay Singh, who has over 20 years of experience in private banking and wealth management, and Shanti Kaliappan, who has expertise in the field, having previously served as senior executive officer at Moonrock Investments.
Ambit Group CEO Ashok Wadhwa said: “Our 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.”
In March 2024, Ambit announced that Daiwa Securities Group will acquire a minority stake in Ambit Finvest Private Limited, the systemically “important NBFC” of the Ambit Group.
Ambit Investment Banking was the exclusive advisor for the transaction.
