CEO of"Alfia"We aim to increase managed assets to $25 billion next year
Dubai, May 8 / WAM / Roger Rouhana, CEO of Alvia, which is strategically and financially supported by the Lunet Alternative Investment Management Fund and Bank of New York Mellon, expects the company’s assets under management to reach about $25 billion by the beginning of the year. 2025, with the pace of growth accelerating and the current momentum continuing.
Rouhana said in an interview with the Emirates News Agency, WAM, on the sidelines of the Dubai FinTech Summit, which concluded its activities yesterday, that the increase in the volume of assets managed to these numbers means that we will, through our banking clients, empower about 4 million investors in the Emirates and Saudi Arabia.
He added, “The UAE is the ideal place to manage our business, especially as the country continues to work at an accelerated pace towards consolidating its position as a global center for wealth and asset management, in addition to the effects of business networks provided by the ecosystem, and the vast opportunities it provides to communicate with strong partners along the value chain.” “A diverse pool of specialized talent, dynamic regulatory frameworks, as well as overall stability that is difficult to match anywhere else.”
He explained that the local market in the UAE supports our goal of bringing about a radical transformation in wealth management, as it provides unparalleled opportunities to establish partnerships with leading regional entities, including banks, asset managers and family offices, with whom it is easy to communicate directly and research together in reformulating standards. Global and innovative concepts, pointing out that these players have a large asset base and provide enormous potential for growth.
Rouhana said that FIA’s actual goal is to become a fundamental pillar of the wealth and trade ecosystem, and to help our clients grow, while ensuring the prosperity of their activities and businesses, noting that the initial investment that the company collected from its main investors, amounting to $300 million, is sufficient to achieve… Our current goal and provide support for our mission and initiatives.
He stated that the financial technology sector in the UAE is rich in opportunities and flourishes with enormous potential, as it is affected by unique market dynamics, noting that financial technology companies currently represent less than 1% of banking revenues in the Middle East and North Africa region – compared to 3 to 5% in the United States. and the United Kingdom, but this sector is witnessing rapid growth in the region.
He continued, “What inspires optimism about the expectations of the financial technology market and its positive growth prospects in the Emirates is that expectations indicate that market revenues in the Middle East and North Africa region will more than double to 2025, to exceed $4 billion, supported by the local growth of the population and their continued demands.” “By obtaining superior digital services, strengthening economic fundamentals, and expanding investment in innovation in the banking sector.”
Roger Rouhana, CEO of Alvia, said that the UAE has succeeded in establishing its strategic position as a major center for wealth technology and financial technology in the region, through a series of integrated initiatives, as it has achieved remarkable success in taking advantage of its financial strength to attract the attention of world leaders through its ecosystem. It includes a rich group of asset managers, hedge funds, family offices, banks and financial institutions that have established a solid base in the country.
He pointed out that this ecosystem, with its major players and multiple talents, serves as fertile ground for financial technology and wealth technology companies.
Rouhana stated that the UAE attracts many strong specialized ecosystems in which financial technology is an essential core. Examples of this include the “Hub71” system in the Abu Dhabi Global Market and the Innovation Center in the Dubai International Financial Centre, as both play an essential role in enhancing the sector’s growth and maturity.
He pointed out that the UAE’s environment provides safety and stability for the assets of individuals and institutions alike, in addition to other factors such as geopolitical stability, a large asset base, business flexibility, strong regulatory frameworks, and an unparalleled quality of life, all of which contribute to strengthening the country’s position. And prepare it to benefit from its momentum and continue developing its wealth management ecosystem, to serve regional and global needs.
Regarding his outlook on the wealth management sector in the UAE, Rouhana said, “We are very optimistic about the future of this sector in the country, and we will witness annual growth of more than 6% from 2021 to 2025 in personal financial assets with high net worth, surpassing traditional wealth centers such as the United States and Europe.” Western”.
Rouhana attributed this accelerated growth to a large influx of high-net-worth individuals, including 4,500 millionaires who moved to the Emirates in 2023, and the noticeable increase in family offices established locally.
He pointed out that technological developments such as artificial intelligence and cloud computing are essential to support this growth and accelerate its pace, allowing the provision of more personalized, scalable and secure services in the field of wealth management.
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