DWS, a subsidiary of Germany's Deutsche Bank AG and a specialist in integrated investment solutions, has received a license from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) to operate as a Category 4 regulated firm. A Category 4 license allows authorized companies to arrange deals, provide investment advice, and manage collective investment funds — without holding client money or assets.

Just last week, Switzerland’s largest bank, UBS, opened its second base in the UAE at ADGM. Like DWS’s parent company, Deutsche Bank, UBS also operates within the region’s financial free zone DIFC in Dubai.

Growth Prospects On the Agenda

With this latest milestone, DWS — managing more than EUR 1 trillion in assets (as of June 30, 2025) — is establishing a regional presence under ADGM’s regulatory framework. Stefan Hoops, CEO of DWS, said: «The Middle East is a strategic growth region for DWS. We aim to leverage our position as the gateway to Europe to connect clients, markets and opportunities across borders in a future-oriented and highly sophisticated region.»

According to the latest IMF report, economic growth in the Middle East and North Africa is projected to rise to 3.3 percent in 2025 (up from 2.1 percent in 2024) and even reach 3.7 percent in 2026. The reasons include a faster rollback of oil production cuts, fewer disruptions in oil output and maritime transport — partly due to the partial easing of regional conflicts — as well as a strong uptick in the Gulf states’ non-oil sectors.

Strategic Role

According to the DWS press release, the investment firm views Abu Dhabi as a «key hub» in the region. Joe Kiwan will relocate from Paris to Abu Dhabi to serve as Senior Executive Officer of the DWS branch at ADGM. He will also continue in his current role as Head of Coverage for the Middle East and Africa, overseeing the implementation of the regional strategy, client relations, and the development of strategic partnerships.

Arvind Ramamurthy, Chief Market Development Officer at ADGM, said: «We congratulate DWS, one of the world’s leading asset managers, on receiving its FSP from the FSRA of ADGM. This milestone reflects both the firm’s ambition and the strength of ADGM’s robust, progressive, and internationally recognized regulatory framework.»