Verition Fund Management LLC (Verition), a multi-strategy, multi-manager investor adviser headquartered in Greenwich, Connecticut, is expanding its global presence with its latest office opening in Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia region.
The firm has been licensed by the Dubai Financial Services Authority to manage assets and conduct certain other financial services activities. Saad Mahmood has been appointed as Senior Executive Officer of Verition (DIFC) and will lead the growth of the local office.
The establishment of Verition in Dubai confirms the firm’s strong commitment to the region. The UAE and the wider MENA region are important markets for Verition, and the new presence will further enhance the firm’s ability to attract global investment talent as well as capture important regional market opportunities. Verition’s strategic positioning of its Dubai headquarters gives it access to DIFC’s financial and innovation ecosystem of over 36,000 professionals working across over 4,300 active registered companies. Verition has a broad international footprint with offices in Greenwich, New York, London, Singapore, and Hong Kong.
Josh Goldstein, Verition’s Co-Founder and President commented: “We are excited to continue our international expansion with the addition of a Dubai office. The opportunity to live and work in Dubai is especially appealing to our current and prospective portfolio managers. The region offers a friendly time zone for traders with a global investment mandate, lower taxes, and excellent infrastructure. We look forward to being an important part of a growing global investment hub in the EMEA region.”
Salmaan Jaffery, Chief Business Development Officer, DIFC Authority said: “DIFC is delighted to welcome Verition to Dubai. As the number and scope of hedge funds established in DIFC grows, the ecosystem is developing around these world-class firms, as well as prime brokers and trading technology start-ups. DIFC’s remarkable growth, which in part is being fuelled by hedge funds like Verition, enables us to significantly contribute to Dubai’s ambition to be one of the world’s top three cities for business and drives DIFC’s strategic position as a global hub for hedge funds.”
DIFC plays a critical role in leading and shaping the future of finance through innovation, talent attraction, and inclusivity by creating an environment that fosters growth and development. With its strategic location and business-friendly policies, DIFC provides an ideal platform for Verition to expand its operations and cater to a wide range of clients.
The 33rd edition of the Global Financial Centre Index classifies Dubai as one of 10 financial centres in the world ranked as a global leader with a broad and deep offering.