American institutional asset manager GoldenTree Asset Management has announced the opening of a new office in Dubai, United Arab Emirates (UAE).

Situated at Dubai International Financial Centre, the representative office is the company’s first location in the Middle East.

The office will be the firm’s ninth branch across the globe after New York, West Palm Beach, Charlotte, London, Dublin, Singapore, Sydney and Tokyo.

GoldenTree has hired Han Gurer to look after its Middle East business through the new Dubai office.

Gurer, who joined GoldenTree from Ares Management, will report to GoldenTree CEO Kathy Sutherland.

Sutherland said: “For more than 15 years the Middle East has been an important, growing region for GoldenTree.

“We deeply value being close to our investors and are delighted to establish a local presence with Han Gurer’s leadership to continue to strengthen and grow our relationship with partners in the region.

“Han brings over a decade of expert business development experience to GoldenTree, and we are pleased to welcome him to the team.”

Appointment of Sutherland as the firm’s first CEO was announced in October last year.

Gurer said: “Credit is top of mind for investors and will only increase in importance in the coming years.

“The opportunity to join a firm that has had demonstrable investment success over numerous credit cycles in the last 23 years and across a broad array of products is quite exciting and I am greatly looking forward to helping lead GoldenTree’s growth in the Middle East.”