Rothschild & Co has established a wealth management office in Dubai, aiming to enhance its services for local clients and affluent individuals across the region. This move aligns with the
growing trend of financial institutions capitalizing on the expanding market in the United Arab Emirates.
The new office, now fully operational, will cater to ultra-high-net-worth families, entrepreneurs, charities, and foundations. According to a company statement, the Dubai team will complement Rothschild’s Geneva-based Middle East team, adding a local advisory presence to their operations.
Western wealth managers have been increasing their footprint in the UAE, drawn by the region’s business-friendly environment, advantageous time zones, and tax-free benefits.
"Dubai's position as a financial hub with strong demographics and rising GDP per capita makes it a highly attractive market for Rothschild & Co," said Sascha Benz, Head of Wealth Management for the Middle East, who will lead the Dubai office.
Benz highlighted the city’s appeal to wealthy international investors and institutions, citing its role as a gateway to the Middle East. The new office will serve a diverse clientele, including local merchant families navigating succession planning, international family offices, and tech-oriented entrepreneurs.
The Dubai office is supported by a senior client adviser and a compliance officer, with plans to add three more team members within the next 18 months.
This expansion follows similar moves by other major banks. In September, JPMorgan established a private banking team in Dubai, while Banco Santander launched a private banking office in the Dubai International Financial Centre (DIFC). UBS also announced earlier this year an expansion of its Middle East wealth management team, joining institutions like Deutsche Bank in strengthening their regional presence.
Rothschild’s strategic entry underscores Dubai’s rising importance as a financial hub, attracting an increasingly diverse and affluent investor base. Photo by Adrian Welch, Wikimedia commons.
