Since opening operations in Dubai, the group continues to build momentum in the Gulf and wider Middle East, it says.

IQ-EQ, the investor services group that set up in Dubai’s DIFC earlier this year, has announced that it is establishing operations in Abu Dhabi. The move includes having to acquire a licence to offer fund administration services. 

The launch in Dubai was the group’s first physical presence in the Middle East, so this week’s announcement is the second step. The new office is centrally located in Abu Dhabi Global Market (ADGM).

“Abu Dhabi has become a leading financial centre for innovation, attracting multinational corporations, investment banks, private equity firms, venture capitalists, as well as a wide range of professional service providers,” group chief executive of IQ-EQ, Mark Pesco, said. “We’ve been receiving numerous enquiries for ADGM services across our various offices.”

Senior executive officer Tariq Nakhooda (pictured), who heads up IQ-EQ UAE, added: “Abu Dhabi is home to some of the world’s largest sovereign wealth funds with over $1.5 trillion in institutional capital, and last year saw an incredible 56 per cent uplift in assets under management.”