Aberdeen Asset Management has established its presence in the Middle East region by opening a new office in Abu Dhabi, the capital of the UAE.

Aberdeen has now become the first international asset manager to open an office in Abu Dhabi Global Market (ADGM), the international finance centre of Abu Dhabi.

Aberdeen offers a range of products, covering strategies across bonds, equities, property, alternatives and quantitative investments. The company has been active in the Middle East and North Africa (MENA) region for over 20 years.

Additionally, the company has appointed Andrew Paul as senior executive officer of Aberdeen Asset Management Middle East, while Lucy Draper has been hired as senior business development manager.

Paul, who joined Aberdeen in 2002, most recently served as head of group strategy in the company’s distribution division.

Draper has been at Aberdeen since 2007 and has covered the international markets for seven years.

Both Andrew and Lucy, who have relocated from Aberdeen’s London office, will continue to report to Aberdeen head of Middle East and Africa Nigel Norman, who is based in London.

Aberdeen CEO Martin Gilbert said: “The Middle East has been an important market for Aberdeen for many years and the establishment of a local office is the natural next step for us.

“We already enjoy a good relationship with a number of clients in the region and we believe the economic fundamentals of the region will create opportunities for asset managers over the coming years. Having Andrew and Lucy in Abu Dhabi will allow us to build on the good work we have already done.”