ADGM grants PGIM Financial Services Permission

ABU DHABI: PGIM, the global investment management business of Prudential Financial, Inc., has received Financial Services Permission (FSP) to operate in Abu Dhabi Global Market (ADGM) and has opened a new office in Abu Dhabi, located in the city's financial district. Establishing its local entity marks PGIM's formal entry into the Middle East market, underscoring its commitment to serving institutional and professional clients in the region. PGIM is dedicated to providing innovative investment strategies and comprehensive client advisory services to regional investors, helping them navigate market complexities and achieve their financial goals. Arvind Ramamurthy, Chief of Market Development at ADGM, said, 'We are proud to welcome PGIM, one of the largest asset management companies in the world, to one of the largest financial districts in the world - ADGM. PGIM's expansion into Abu Dhabi marks an important milestone in leveraging its unparalleled expertise and comprehensive range of services alongside ADGM 's robust ecosystem to unlock a wealth of investment opportunities in the region. Their role in driving growth and innovation in the region will strengthen ADGM's position as a global financial powerhouse.' Mohammed Abdulmalek, Head of the Middle East for PGIM and Chairman of the newly established local entity, commented, 'PGIM is well-equipped to offer bespoke investment solutions that align with the region's economic growth and transformation. Abu Dhabi remains a key market for us, and the establishment of our new legal entity in ADGM emphasises our ongoing dedication to our presence in the UAE and our commitment to the Middle East. I look forward to leading PGIM's efforts in delivering value to our clients and contributing to the financial landscape of the UAE.' Source: Emirates News Agency