The Dubai office of investment management company Quilter Cheviot has secured a Category 4 licence.
Earlier, the company carried out its operations within the Dubai International Financial Centre (DIFC) as a representative office.
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The new licence will enable the company to advise and on-board clients and service relationships on the ground.
It will allow investors in the DIFC to speak directly to the Dubai office. Investment managers in company’s Jersey office will continue to see the portfolios.
The licence also has a retail endorsement from the Dubai Financial Services Authority (DFSA). It also allows the local team to support a cross-section of both professional and retail clients.
The license upgrade will enable the team to work closely with adviser partners.
Quilter Cheviot’s Dubai Office head Mark Leale said: “Investors in the Middle East are now far more knowledgeable about their investments, and pleasingly many are opting for the services of a discretionary fund manager to help them meet their financial goals.
“To now be able to advise clients on their investments and work more closely with the financial adviser community will undoubtedly help us to build stronger relationships with them.
“We have seen great success in the region and will look to continue building relationships with financial advisers, private clients, family offices and professional service providers.”
The company’s Dubai office was opened in early 2016 to enhance its local presence in the Middle East.
Quilter Cheviot has offices in London and across the UK, as well as Jersey, Dublin.
