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Nomura Asset Management Opens Up Shop in Dubai

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Dubai

Japan-based Nomura Asset Management, the asset management arm of Nomura Group, has opened its doors in the Dubai International Financial Centre (DIFC), making a commitment to multiply its client base in the Middle East by having boots on the ground. Nomura, Japan’s largest securities brokerage, has been in Dubai for more than 5 years; however, opening up asset management operations to serve their sovereign wealth clients has been a strategy in the making. Asset managers and service providers have made a big push to operate subsidiaries from the Gulf, seeing the region as a center of sovereign wealth. For example, in 2010, RBC Investor Services, then RBC Dexia Investor Services, opened an office in the DIFC.

Sovereign Wealth Centers in the Gulf

Nomura Asset Management is keen on promoting international products to sovereign wealth funds, public pensions and other institutional investors. To lead the Dubai office with regard to asset management, Nomura has hired Tarek Fadlallah as CEO of Nomura Asset Management Middle East.

When asked about more institutional houses opening up offices in the region, Tarek Fadlallah responded, “Perhaps but this time it’s likely to be based on a more sober assessment of the business opportunity rather than the hope which characterised the initial operational expansions between 2004-2008.”

According to Fadlallah, they decided to open an office in Dubai since, “The DIFC has become a respected financial hub with excellent regulatory oversight and physical infrastructure. It was a logical location for our first office.

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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