Guggenheim Capital Markets, the New York-based registered broker-dealer, has been granted a licence by the Dubai Financial Service Authority to operate as an authorised firm in the Dubai International Financial Centre. Expanding its current capacity to serve institutional and high net worth clients beyond North America, Guggenheim said the office in Dubai will enable it to focus on raising capital in the Middle East and North African regions. GCM, a subsidiary of Guggenheim Partners, focuses on the sales and trading of a wide range of structured fixed-income products, raising debt and private equity for middle market companies and raising capital for private equity funds and hedge funds. Dominic Curcio, managing partner of Guggenheim Partners said: With its focus on growth and embracing of innovation, we believe Dubai is well-suited for Guggenheim's approach to financial products and services." Guggenheim Partners is a global diversified financial services firm with wealth management, capital markets, investment management and proprietary investing businesses. It manages assets totalling $125 billion on behalf of individuals, family offices, endowments, foundations, insurers, pension plans and other institutions. Office locations include New York, Chicago, Los Angeles, Miami, Boston, Philadelphia, Houston, St Louis, London, Dublin, Hong Kong and Geneva.