Abu Dhabi - MENA Herald: The upgrade of the UAE and Qatar’s classification on the MSCI Global Equities Index from Frontier to Emerging Market status has meant greater stability and more investment, and prompted an increased focus on corporate governance, according to Abu Dhabi-based international financial services company ADS Securities.
Dr Ryan Lemand, Head of Managed Solutions & Business Development at ADS Securities, spoke at the MENA Capital Markets & Summit Awards, held in Dubai, on the panel discussing MSCI upgrades and financial centres in the UAE, Qatar and GCC region.
“The impact of the MSCI upgrade of UAE & Qatar stock markets may not have been immediately obvious, but it has most certainly served as a catalyst for the ongoing diversification of the financial ecosystem in the GCC and MENA region,” explained Dr Lemand.
“Financial centres across the region have focussed on both strengthening their regulatory regimes and drawing in recognized expertise, attracting key players and a highly skilled labour force. This has not only contributed to the development of a robust competition environment locally and regionally, but has served to enhance the region’s influence as a global financial player.”
“The launch of Abu Dhabi Global Market (ADGM) is the perfect example and as the UAE continues to develop its global marketplace, the true advantage of being classed as an emerging market will become even clearer,” Dr Lemand added.
Dr Lemand was previously the Senior Advisor and Head of Risk Management at the Emirates Securities & Commodities Authority. He has also held roles as a Senior Portfolio Manager at Fortis Investments in London and Paris, as well as teaching financial econometrics courses at the Paris II-Assas University and Paris IX-Dauphine University.
Dr Lemand holds a PhD (summa cum laude) in Financial Econometrics from the École Normale Supérieure, France, and is the author of two books on financial contagion, as well as a number of research articles on financial correlation.