Abu dhabi: ADGM, the prominent international financial centre of Abu Dhabi, is marking a significant milestone as it enters its second decade, announcing the addition of 11 major global financial institutions that collectively manage over US$9 trillion in assets.
According to Emirates News Agency, this substantial increase from $635 billion last year and $450 billion in 2023, highlights one of the most notable expansions by any international financial centre globally this year. It underscores ADGM's position as the region's fastest-growing and one of the most dynamic jurisdictions for asset management.
The announcements were made during the fourth and largest edition of Abu Dhabi Finance Week (ADFW), showcasing the city's influence as the 'Capital of Capital.' ADFW has become a global platform highlighting Abu Dhabi's role as a financial hub where capital flows are driven by leading institutions and a robust regulatory environment at ADGM.
With assets under management at ADGM rising sharply, the centre is solidifying its status as the fastest-growing international financial centre in the region and one of the most dynamic globally. This growth marks a pivotal shift in Abu Dhabi's role within the global financial system.
Throughout the week, leading global financial institutions, including Cantor Fitzgerald, BBVA, Arab Bank Switzerland Gulf Ltd, and others, announced plans to establish a presence in ADGM, spanning various sectors such as asset management, banking, infrastructure investment, and global legal services.
These new commitments build on a strong pipeline of commitments from firms like UBS Group, KKR, and Julius Baer, highlighting the depth and resilience of ADGM's growth trajectory. This positions the centre among the world's top five international financial centres.
ADGM aims to continue setting international benchmarks across key growth areas beyond asset management, extending to digital assets, sustainable finance, and advanced private wealth services, supported by a progressive regulatory framework aligned with global standards.
Guided by visionary leadership, this growth phase positions ADGM to not only respond to global financial transformations but to redefine what an international financial centre can be, serving as a global gateway for capital and a platform for innovation.
Ahmed Jasim Al Zaabi, Chairman of ADGM, emphasized the long-term confidence international institutions place in Abu Dhabi's vision, noting that the addition of firms managing more than $9 trillion in assets is a testament to ADGM's ability to support sophisticated financial activity.
In a historic development, ADFW marked the announcement of Binance becoming the first crypto exchange to secure a formal global licence from the Financial Services Regulatory Authority of ADGM, further establishing ADGM's position in the digital asset space.
Richard Teng, Co-CEO of Binance, highlighted the significance of this milestone, reflecting Binance's focus on transparency, security, and user protection. The partnership with ADGM reinforces a strong belief in the long-term growth of the crypto ecosystem.
Additionally, other entities in the fintech and digital asset sectors announced their expansion into ADGM, further establishing Abu Dhabi as a global centre for financial innovation and reinsurance solutions.
JPMorgan also announced the expansion of its payments and treasury services from ADGM, enhancing liquidity and transaction-banking capabilities in the region.
Local platforms are also contributing to Abu Dhabi's market infrastructure, with numerous Memorandums of Understanding signed during ADFW, including the notable Majarra-Halo partnership.
These developments illustrate Abu Dhabi's deliberate efforts to engineer its capital network, aligning technology, regulation, and market architecture to drive financial innovation.
All announcements during ADFW, held under the theme 'Engineering the Capital Network,' reflect Abu Dhabi's growing stature as a global financial powerhouse and ADGM's role in shaping a connected, competitive, and diversified 'Capital of Capital' for the coming decade.