DeVere Group, the financial advisory and services company, has announced it is to develop a "major digital finance operation" from Dubai.
Nigel Green, the deVere Group CEO said: "We're developing and building a major digital financial organisation from Dubai." International Investment understands the new teams within the new digital finance division will focus on enhancing the company's existing suite of fintech solutions and developing new ones.
There are, said Green, three main drivers why Dubai has been chosen for this by the organisation that does business in 100 countries worldwide.
Dubai is helped in this regard by having an independent regulator, an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals [and] a dynamic business community."
"First, we already have had for more than 15 years a considerable footprint in Dubai and across the UAE, with many teams of highly talented individuals.
"Second, Dubai, which is already recognised as one of the most important financial centres in the world, can be expected to become one of the world's top ten international financial hubs to rival and more aggressively compete with the likes of London, New York and Hong Kong."
He added: "Dubai is helped in this regard by having an independent regulator, an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals, a dynamic business community, world-class infrastructure, superior digital and telecommunications networks, English as its de-facto business language, and its enviable geographical location and time zone.
"And third is Dubai's passion for and expertise in innovation. We've seen this in real-time as the emirate diversified from oil to become a truly global leader in trade, transportation, finance, tourism, retail and real estate."
The deVere CEO says that the Dubai-based digital financial organisation will consolidate and "significantly further develop and expand" the organisation's pioneering global Contactless Finance service.