Swiss-based family office GMG, part of G2 Group, has been granted a licence by the Dubai Financial Services Authority to operate an authorised firm from the Dubai International Financial Centre (DIFC).
G2 manages a series of focused fund of hedge fund investments in Switzerland, Russia and Latin America. It also holds a geographically diverse portfolio of real estate investments in the hotelier, agriculture, commercial and leisure sectors.
GMG, as the brokerage arm of G2 Group, will provide both voice and electronic execution services for institutional clients such as banks, funds, sovereign funds, family offices, corporates and supra-nationals from its base at the DIFC. It will not engage in retail business.
Activity from the Dubai office will be specialised on fixed income execution (IRS, IRS options, FX options, FX swaps, Bonds, CDS) and equity derivatives.
Abdulla Mohammed Al Awar, CEO of the DIFC Authority said: "GMG is a highly focused and specialised service provider which will add yet another facet to the regional financial services industry.
“There is already an appetite for specialist services of the company and with its arrival, this demand is only set to grow and deepen further."
