New Office

Singapore-Headquartered Farro Pushes Into Gulf

Editorial Staff 19 December 2023

Singapore-Headquartered Farro Pushes Into Gulf

The firm, interviewed by this news service a few months ago, has secured an office in the Dubai International Financial Centre.

Farro Ventures, parent company of Singapore-headquartered multi-family office Farro Capital, is pushing into Dubai, part of a continuing trend of firms entering this Gulf financial hub.

The firm’s new office is located in the Dubai International Financial Centre. The operation will offer access to solutions spanning investment management, philanthropy advisory, estate planning, family governance and succession, and others, Farro said in a statement yesterday. 

“The Middle East, with its rich history of trade, investment, and wealth generation, presents ample opportunities for our business,” Rajiv Garg, co-founder and managing director, said. 

This launch is also complemented by the establishment of Farro & Co’s presence in the International Freezone Authority (IFZA) under the guidance of Nirbhay Handa, founder and CEO, and Abhishek Menon, partner (Middle East), to provide immigration and mobility services.

Rajiv Garg, co-founder and MD, together with Vincent Valadares, MD, will lead Farro Capital’s Dubai operations, spearheading client engagement, recruitment, and the further build-out of the firm’s footprint in the region. 

Farro Capital – interviewed by this news service earlier in 2023 – was founded in October 2022. It has a total of 18 staff. It is licensed by the Monetary Authority of Singapore.

The Dubai move by Farro is an example of how the DIFC, and rival Abu Dhabi Global Market, compete to attract overseas banks and other financial institutions in the Gulf region. In October last year, for example, Switzerland-based Habib Bank AG Zurich (HBZ), set up a new branch in the DIFC. 

This news service recently spoke to the CEO of the DIFC Authority about its strategy. 

In August last year, DIFC launched a “global family business and private wealth centre,” highlighting how the Middle East jurisdiction is targeting family businesses as a client segment.

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