Reliance Asset Management (UK), a wholly owned subsidiary of India-based Reliance Capital Asset Management (RCAM), has commenced operations from the Dubai International Financial Centre (DIFC) after receiving a license from the Dubai Financial Services Authority (DFSA).
Reliance will provide full range of wealth and investment advisory services to professional investors and institutional clients in the region.
Abdulla Mohammed Al Awar, CEO of the DIFC Authority, said: “The establishment of Reliance office in DIFC will serve to further cement the strong linkages between the financial sectors of India and the UAE. DIFC’s world-class regulatory framework, high-quality support services, zero-tax environment and strong links with international financial markets make it the ideal platform for leading Indian companies like Reliance to tap opportunities in the region.”
Kevin Birkett, executive director of asset management at DIFC Authority, said: “We are very happy to welcome Reliance wealth management, a part of India’s leading and fastest growing private sector financial services companies to the DIFC community. With its vast experience in providing financial services, it will add to the diversity of the DIFC business cluster and the pool of expertise available within the financial district.”
Vikrant Gugnani, CEO of international businesses at Reliance Capital, said: “Our decision to open office in DIFC will help us accelerate and tap the vast business potential present in the region.”
RM Sriram, business head of Dubai at Reliance, said: “As the largest asset management company in India, Reliance has been delivering consistent value to clients over the years and we seek to harness the financial advisory expertise of our parent Reliance Capital to offer bespoke fair priced wealth advisory solutions to professional investors in the region.”
RCAM is a part of Reliance Capital, an India-based financial services company.