The report said that the family office has won regulatory approval to set up in Monaco.

The family office of Qatar’s former ruler is busy with a recruitment drive to build up a multi-strategy investment team, Bloomberg reported late last week.

Sheikh Hamad bin Khalifa Al Thani’s Dilmon is recruiting portfolio, operations and risk managers in Monaco and London for an “institutional-grade” unit for the multibillion-dollar fortune of the Gulf nation’s former emir, the news service said, citing unnamed sources and job postings.

The report also highlights the importance of the family office model in a region closely associated with dynastic wealth, particularly where NextGen wealth transfer is increasingly important. 

The family office received approval last month to establish itself in Monaco. It has already hired the former co-head of Goldman Sachs Group Inc’s Monaco operations, Arnaud Caussin.

The report said a representative for Dilmon, which also has offices in Qatar and London, declined to comment.