Switzerland’s largest bank UBS has opened an advisory office in Abu Dhabi's financial centre as it seeks to capitalise on the influx of the wealthy to the UAE.
The office at Abu Dhabi's ADGM is UBS's second in the UAE, after the branch in the Dubai International Finance Centre (DIFC).
The Abu Dhabi office “reflects UBS’s strategic vision to further expand its footprint in one of the world’s most dynamic and fastest-growing finance and wealth hubs”, UBS, one of the world’s largest wealth managers, said in a statement on Wednesday.
Abu Dhabi is “recognised as a leading centre of investable wealth in the region”, it said.
“It has rapidly become a preferred destination for ultra-high-net-worth individuals, corporates, investors such as sovereign wealth funds and family offices, seeking sophisticated financial solutions and trusted advisory services within the region’s growing ecosystem.”
UBS is the latest among a group of global lenders, as well as asset and wealth managers that have either set up a base in the UAE or have invested in solidifying their presence in the country.
Measures introduced by the UAE to attract foreign investment, combined with its position as a gateway to the broader Middle East, Africa and South Asia, has helped it to attract large family offices, as well as institutional wealth, global financial institutions, private banks and asset managers.
HSBC, Europe's biggest bank by total assets, last month said it is launching a dedicated wealth centre in Dubai.
In September, Rothschild & Co, one of the world's biggest financial advisory groups, said its wealth management business, which manages €38 billion ($44.3 billion) in client assets, will take over the UAE operations of Liechtensteinische Landesbank.
Global investment manager Fortress, backed by the UAE’s Mubadala Investment Company, and Kimmeridge, a New York-based alternative asset manager focused on the energy sector, also opened in ADGM in the first half of the year.
Total personal wealth in the Middle East exceeds $5.7 trillion, according to the UBS Global Wealth Report 2025.
In the Middle East, Saudi Arabia leads the ranking with almost 340,000 millionaires, followed by the UAE with 240,000, the data showed.
UBS' Abu Dhabi branch will advise clients directly from ADGM, with assets booked in Switzerland, leveraging its global franchise and product capabilities, it said.
“UBS’s global connectivity and strong capabilities position us to serve complex clients and deliver integrated solutions,” said Beatriz Martin, president of UBS EMEA, said.
“With a strengthened presence in the country, we are well positioned to continue driving growth … to clients in Abu Dhabi and across the region.”
ADGM in September said it is now the region’s largest international financial centre by the market capitalisation of its registered entities. The total value of ADGM-based firms listed on the Abu Dhabi Securities Exchange surpassed Dh500 billion ($136 billion) by the end of the first half of 2025.
“ADGM provides an ideal platform for firms such as UBS to connect with regional and international investors, while contributing to Abu Dhabi’s vision as a leading global financial hub,” Arvind Ramamurthy, chief market development officer at ADGM, said.
