UAE - Mubasher: The Abu Dhabi Investment Office (ADIO) has partnered with the financial services companies, Florin Court Capital (Florin Court) and Tribe Infrastructure Group (Tribe), as part of its AED 2 billion ($545 million) Innovation Programme.
The two partnerships aim to foster the companies' expansion from Abu Dhabi and promote the quantitative asset management, trading, and advisory base of the emirate’s financial sector, according to a press release on Thursday.
Florin Court will establish its new trading, research, and operations hub in the Abu Dhabi Global Market (ADGM), while Tribe is seeking broader global expansion from its headquarters in ADGM.
ADIO has granted financial incentives to Florin Court and Tribe and will support the companies through its non-financial incentive offering throughout the partnership.
In addition, the companies will also benefit from Abu Dhabi’s advanced financial services infrastructure, internationally competitive regulatory framework, capital and local talent, and an extensive R&D support network.
The Director-General of ADIO, Tariq bin Hendi, said: "The rapid pace of development in Abu Dhabi’s booming financial services sector gives rise to novel opportunities and creates access for existing and new players in the market. The emirate has emerged as a global financial hub, a position that is set to strengthen with the introduction of Florin Court and Tribe’s global expansion."
Meanwhile, the Chief Strategy and Business Development Officer at ADGM, Juma Al Hameli, commented: "ADIO’s partnerships with Florin Court and Tribe is testament to the strength of ADGM’s holistic business ecosystem which enables business to thrive through a collaborative approach."
