- Expansion
- 2029
Programme Latitude · Phase 4 of 7
2029: Gulf presence
Dubai becomes a full-service office in the fourth phase. The Gulf hub has arranged and advised since 2023 without holding client assets in the region, which is a long route for a family whose principals sit in the Gulf. From 2029 the hub holds those assets through a regional custody and settlement link covering six currencies.
The phase
Doha extends institutional coverage to two further counterparties. Manama adds a funding desk that supports the Dubai book and books facilities in the same six currencies. Two further Gulf registrations take the group to 34 jurisdictions, two further locations take it to 42, and the regional headcount rises from 19 to 30.
Milestones
- Custody and settlement link live in Dubai under a regional custodian agreement signed in 2029.
- Dubai licensed for a wider set of permitted activities and staffed with 18 people.
- Manama funding desk operating in six currencies for the Gulf commercial finance book.
- Two further Gulf registrations completed, taking the group to 34 jurisdictions.
- Middle East client portfolio raised from US$58 million to US$95 million by the end of 2029.
Initiatives in this phase
- Gulf custody and settlement link (Planned)