This move marks the first major milestone in a strategic expansion of the firm’s footprint and service offering in the Middle East, building upon our long-established support for clients in the region.
The new office, located in the Dubai International Financial Centre (DIFC), also raises IQ-EQ’s location count to 25 jurisdictions worldwide.
Group Chief Executive Officer of IQ-EQ, Mark Pesco, commented:
“The extension of IQ-EQ’s global reach to the DIFC, a leading financial hub in the Middle East, aligns with our ambition to have a local presence in all of the world’s leading IFCs and will enhance the Group’s already-strong global positioning.
It is significant that the DIFC is evolving as a connecting IFC jurisdiction between Africa, India and the Middle East economies, and given IQ-EQ’s extensive network and client base in the region, we are confident this venture will be a great success.”
Today’s announcement follows receipt of requisite approvals from the DIFC and the Dubai Financial Services Authority (DFSA) for IQ-EQ UAE to offer a comprehensive suite of investor services to clients ranging from corporate businesses to ultra-high-net-worth individuals and family offices.
Heading up IQ-EQ UAE in Dubai is Tariq Nakhooda, Senior Executive Officer, who joined IQ-EQ in 2022 to establish, build and lead the new operation. He elaborated:
“Our initial Dubai operations will assist clients with their local and international structuring requirements, including company and foundation formation and management, compliance services, corporate secretarial and accounting services. We plan to extend our offering to full-fledged domestic fund administration in due course, following procurement of the necessary regulatory approvals.
Having worked in Dubai for over a decade, I have witnessed first-hand its remarkable connectivity with the rest of the world, its strategic positioning and robust growth – making it imperative for a top global player like IQ-EQ to be part of this growing community.”
In building IQ-EQ’s UAE business, Tariq is working closely with Sridhar Nagarajan, IQ-EQ’s Regional Managing Director for Africa, India and the Middle East, and Rehma Imrith, Chief Commercial Officer for Africa, India and the Middle East.