The firm is aiming to set standards that exceed those required by regulators. It is looking to develop local regulation in line with that of UK-style financial controls, the firm said in a statement.

“There is a widespread perception that the Middle East, and Dubai in particular, is some way behind the European market in terms of Treating Customers Fairly (TCF), training and competency, systems and controls and underlying business model,” said chief executive of AES International Sam Instone.

Instone said the team was committed to “changing this perception and introducing change by importing higher technical competency, technology, compliance and business conduct into the Emirates.”

The new office, based in Emaar Square, is the first direct branch in the Middle East for the firm.

The group is headquartered in London and has other branches in Germany, Ireland, Italy, Netherlands, Poland, Spain, Belgium and Sweden.