One of the oldest asset management companies in India has established an office in the Dubai International Financial Centre (DIFC).
Part of the India-headquartered Tata Group, Tata Asset Management reported revenue of $113bn (£88bn, €100bn) in 2018/19, according to a statement on the DIFC website.
The investment management firm offers mutual funds, portfolio management services, alternate investment funds and offshore funds.
It will be led by Rohan Joshi, who has been appointed principal representative – Middle East.
He has over a decade of financial services’ experience across various geographies in roles with the Tata Group and externally.
Pivotal role
Tata AM formally joined the DIFC community in April 2020 after receiving a Dubai Financial Services Authorioty (DFSA) licence; creating a regional base for the Middle East and broader MEA region, to strengthen its stakeholder engagement and facilitate business growth.
The opening of the office in the DIFC is “an acknowledgement of Dubai’s pivotal role at the heart of the region”, said Prathit Bhobe, chief executive and managing director of Tata AM.
“Strong UAE-India trade relations, favourable demographics and diversified ME investor landscape make the UAE the right fit.”
Hormuz Bulsara, chief operating officer at Tata AM, described the DIFC office “is a significant development” for the firm.
