Abu Dhabi’s financial center ADGM unveiled 19 major announcements from global financial institutions during the third edition of ADFW. These represent almost $635 billion in assets under management (AUM) and follow other Q4 announcements from the world’s largest asset managers — BlackRock, PGIM, and Nuveen — which have also been set up in ADGM.
This remarkable increase, from $450 billion to $635 billion, within a year has reinforced the centre’s reputation as the region’s fastest-growing and one of the world’s most dynamic jurisdictions for asset management. This growth has been further boosted by the establishment of billionaire-led family offices, including those of British businessman Asif Aziz, prominent philanthropist and financial strategist Wafic Said, and Singaporean entrepreneur and real estate leader Kishin RK, underscoring the centre’s growing appeal as a global wealth management hub.
Read | ADFW 2024: World Bank commends UAE efforts in tackling global climate challenges
Commenting on Abu Dhabi and ADGM’s continued momentum, His Excellency Ahmed Jasim Al Zaabi, member of Abu Dhabi’s Executive Council and chairman of the Abu Dhabi Department of Economic Development (ADDED) and ADGM said, “These milestones reflect the heart of what makes Abu Dhabi so special — a shared vision of progress, partnership, and possibility. The growing number of global financial leaders and innovators choosing ADGM is a testament to the trust they place in our infrastructure, robust regulations, commitment to excellence and Abu Dhabi’s reputation as the world’s safest and most dynamic jurisdiction for asset and wealth management.”
“As we welcome these new partnerships, we remain dedicated to driving the growth and diversification of the ‘Falcon Economy’ and creating opportunities that resonate across industries and borders. It’s an exciting moment for ADGM, Abu Dhabi, and all those who are part of this remarkable journey,” he added.
Redefining financial innovation
Building on its role as a leading destination for global investors and asset managers, ADGM is also redefining financial innovation by advancing its digital ecosystem. A cornerstone of this effort was the launch of Finstreet, a first-of-its-kind international securities market and 360-degree, end-to-end ecosystem for private securities. The week also saw a new funding round for Themis and the entry of international digital pioneers Zodia Markets, Polygon Labs, FJ Labs, Aptos Digital, Chainlinks, Astra Tech and Themis.
Meanwhile, Abu Dhabi-based fintech Astra Tech’s Quantix announced a landmark $500 million financing from Citigroup, among the largest provided to a UAE fintech company to date, to expand its CashNow consumer lending platform. Additionally, Themis — renowned for its advanced financial crime prevention technologies — is further reinforcing ADGM’s position as a hub for the next generation of financial technologies by securing over $9.75 million in scale-up funding, building on its success in partnerships with global leaders, including ADGM underscoring its role in advancing financial crime prevention in innovative regulatory environments.
The market announcements were released during the third edition of ADFW held under the theme “Welcome to the Capital of Capital”, which gathered more than 20,000 leaders and executives from across the financial services industry, which collectively represented more than $42 trillion in assets under management.
This wave of newcomers ADFW underscores Abu Dhabi’s position as a global financial powerhouse and ADGM’s role as a catalyst for economic diversification, attracting top-tier talent, cutting-edge technologies, and transformative investments that are shaping the emirate’s future.
