American investment management firm Northern Trust has opened its branch office in Abu Dhabi, UAE.
The new facility, located in the Abu Dhabi Global Market (ADGM), will allow the firm to offer asset servicing and asset management solutions directly to the region’s institutional investors and wealthy individuals.
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Northern Trust first entered Abu Dhabi in 2008 with a representative office.
The firm also has an office in Riyadh, Saudi Arabia, and has boosted its assets in the Middle East by over $100bn in 2016. It has been offering services for Middle East clients for 30 years.
Northern Trust head of Middle East Robert Frazer said: “Northern Trust has a long history of servicing clients across the region, and we look forward to our continued collaboration with ADGM at the Abu Dhabi’s financial free zone.
“We see significant opportunity to bring our institutional level offering to asset managers, sovereign wealth funds and wealthy families across the region.”
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By GlobalDataOverall, Northern Trust has offices across 19 US states and Washington, DC, as well as 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific. The company had $1 trillion in assets under management at the end of March 2017.
