Dubai – MENA Herald: Praemium, a leading provider of varied financial solutions to the wealth management industry worldwide, has moved to Dubai with the support of Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development and business services provider, Capital International Group (CIG).
Through its representative office in Dubai, Praemium aims to expand its client base in the region and promote its product suite comprising three core products – Portfolio administration software, Financial planning & CRM software, and Investment platform – across the region.
Listed on the Australian Stock Exchange (ASX) in 2006, Melbourne-headquartered Praemium moves to Dubai after establishing its presence in London, Jersey, Hong Kong, China and Armenia. The group supports over 700 firms, from small businesses to large institutional clients, and manages or administers over 30,000 investor accounts covering more than US$80 billion in funds globally.
Hamad Al Abdooli, Senior Manager of Investment Support at Dubai FDI, commented: “Dubai being the leading business and services hub for the Middle East, Africa, Indian Subcontinent and CIS countries is a major attraction for enterprises looking at new market opportunities. The increasing demand for innovative financial solutions locally, especially in the years leading to Expo 2020, is also an opportunity for globally acknowledged players like Praemium.”
Praemium’s chief value proposition is the provision of cutting-edge technology to automate many routine, time-consuming activities performed by regulated wealth management firms, which in turn would help wealth managers improve productivity.
“We are very excited to establish a presence in the UAE, to service our existing clients here and expand our client base throughout the region. The company is rapidly growing and its presence in Dubai will facilitate the expansion of our activity. We look forward to building on our long standing relationships in the UAE,” said Michael Ohanessian, CEO of Praemium.
“We are very glad with our association with Dubai FDI, which is assisting us to market the Brand Dubai and instilling in us the confidence to attract international businesses. Our vision is to provide the best platform for investors and entrepreneurs to start their businesses in the investor-friendly environment in Dubai,” said Ayub Ahmed, Director & CEO of CIG.
A well-established conglomerate providing business services and state-of-the-art serviced business centres, CIG fulfills the diverse needs of client businesses, including hassle free incorporation. The company has a professional team of consultants to assist clients with luxurious serviced office solutions at a prime location in Dubai.