Investit, the specialist business consultancy to the global investment management industry, has opened its first office in the Middle East and North Africa (MENA) region at the Dubai International Financial Centre (DIFC).
In a move that demonstrates its commitment to the region, the firm also announced three senior appointments to its new MENA office. Catherine Doherty, one of the founders of Investit, will head the office at DIFC, while Richard Phillipson, who has been with Investit since 2001, will move from the London office to take the role of Director of Institutional Consulting. Ehab El Sawy, who has been working in the region since 2004, has joined the firm as Regional Director.
Investit, which already has offices in London and Sydney, has been advising investment management firms and their supporting custodians, administrators and service providers since 1998. Investit employees have typically over 10 years' experience in investment management and have detailed knowledge in their specialist areas.
Omar Bin Sulaiman, Governor of the DIFC, said: "The MENA region has shown resilience in the face of the global crisis, which reaffirms its massive potential. Investit's decision to enter this market with a high-caliber team led by one of its founders recognizes the shift in the center of gravity of global commerce towards the east, and reflects the vast opportunities in the MENA market.”
Catherine Doherty, Regional CEO, explained: “We have been working for well-established investment management organizations in the [Gulf Cooperation Council region] since 2003. We are impressed by the ambitiousness of firms in the region to build profitable businesses founded on sound products and operational practices.”
Ehab El Sawy noted that “as investors and distributors become more careful about what they buy, investment managers need to demonstrate to clients and regulators their solid product and operational foundations. We look forward to offering Investit’s global experience to help regional firms flourish both in local and international markets.”
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