This follows authorisation from the Dubai Financial Services Authority (DFSA) to conduct regulated activities from the entre. The firm has also appointed Christophe Younes (pictured) as senior executive officer of Carmignac Middle East Ltd and head of Middle East.

The move marks a milestone in Carmignac’s international expansion strategy and reinforces its commitment to the region. DIFC offers a robust regulatory framework, internationally-recognised legal standards and an efficient business environment, making it an attractive location for asset managers with a long-term strategic outlook, Carmignac said in a statement. Dubai’s increasing influence as a financial city, supported by the Dubai Economic Agenda (D33), is reinforcing its appeal as a global hub.

Based in Dubai, Younes will support the development of Carmignac's distribution across the UAE and the wider region, with a focus on strengthening relationships with institutional and wealth investors. He will be supported by a board of directors including Habib Achkar, who joined Carmignac's board of directors in 2024..

Younes rejoined Carmignac earlier this year from PIMCO, where he was responsible for raising capital across the firm's public and private investment strategies in France and Monaco, working primarily with private banks and family offices. He previously spent 10 years at Carmignac, joining as a fixed income product specialist before moving into a sales role covering banking and institutional clients throughout France and Monaco.

Achkar spent more than 30 years at Morgan Stanley, where he held a number of senior positions, including head of the trading room in Paris, CEO of Morgan Stanley Saudi Arabia, CEO of Morgan Stanley MENA and, ultimately, vice chairman. He is also the founder of Marcory Advisors.

Like a number of investment managers, the decision to establish a new office in the UAE reflects Carmignac's confidence in the country’s growth prospects. KKR, a New York-headquartered investment firm, and Zurich-headquartered private bank UBS also have recently bolstered their presence in the Middle East, exploiting the rising level of demand for wealth management.

“With deep experience serving private banks and institutional clients across Europe, we look forward to bringing our expertise to the UAE while learning from local and regional institutions,” Rose Ouahba, group deputy CEO, board member of Carmignac Gestion Luxembourg and Carmignac Middle East, said.

“I am pleased to welcome Christophe back to the team,” she added. “His experience advising private wealth clients internationally makes him ideally suited to lead our expansion into this strategically important and rapidly evolving market.”

“Dubai is home to the Middle East’s highest concentration of wealth, creating significant opportunities for DIFC-based asset managers such as Carmignac to build new relationships, develop innovative investment solutions and participate in the continued growth of one of the world’s most dynamic wealth markets,” Salmaan Jaffery, chief business development officer of DIFC Authority, added. “As the region’s leading global financial centre and largest wealth and asset management ecosystem, DIFC provides Carmignac with a platform to access sophisticated investors and build lasting partnerships across Dubai, UAE and wider region.”