New Office
Quilter Cheviot Sets Up In Dubai, Appoints Business Development Head
The UK discretionary investment manager has received the regulatory go-ahead to operate from the Gulf city.
Quilter Cheviot, part of the UK's Old Mutual Wealth, has opened an office in Dubai.
The company, which has offices across the UK, as well as in Dublin and Jersey, has been granted regulatory approval to open the new office in the Dubai International Financial Centre.
The new office will be overseen by Quilter's head of international and head of the Jersey office, Tim Childe. The company will continue to manage its international clients out of Jersey, complying with UK and Channel Island regulations.
Mark Leale will serve as head of the Dubai office. He was previously regional manager at Nedbank Private Wealth where he opened the firm's Dubai office in 2011. He has also worked at Lloyds Private Banking in Dubai, the Isle of Man and Guernsey. In his new role, Leale will be supported by senior regional representative, Keith Owen.
“In Dubai there is strong demand for tailored investment solutions for high net worth investors, and the launch of the Quilter Cheviot representative office has generated significant interest from advisers,” said Brendan Dolan, regional director, Middle East and Africa, at Old Mutual International.
“This fits well with the trend we are seeing in the region for advisors to outsource investment solutions, shifting their business model away from investment selection to the financial planning needs of their clients,”
Separately, on Friday, the company announced Scott Stevens as its new head of business development. He will take on the newly-created position on 16th May, joining from BNY Mellon Investment Management, Europe, Middle East and Africa, where he was head of marketing and communications. Stevens previously served as head of distribution at Matterhorn Investment Management, an emerging market hedge fund, and prior to that, head of global wholesale sales and marketing at F&C Investments.
Quilter Cheviot had around £17.8 billion ($25.7 billion) of assets under management as of the end of 2015.
