Cayman-based consulting and fiduciary services firm is expanding to the United Arab Emirates to support a growing client base and capitalize on the region's expanding financial sector.
Daymer Group, a consulting and fiduciary services firm headquartered in the Cayman Islands, has opened a new office in the Dubai International Financial Centre (DIFC). The new entity, regulated by the Dubai Financial Services Authority (DFSA), will be led by Director Mike Davis and is positioned to serve the asset management and startup sectors in the Middle East.
The expansion into the UAE follows a trend of financial services firms establishing a presence in the region. According to Daymer Group Founder Richard Scott-Hopkins, the move was a logical step following the establishment of offices in London and the Cayman Islands. "New and established Asset Managers are moving to the UAE to take advantage of the attractive tax regimes, developed regulatory network and to be closer to their current and potential investors," Scott-Hopkins said, noting that several of the firm's existing clients had requested support in the region.
Daymer Group's core services include sourcing independent non-executive board members for funds, family offices, and corporate structures, in addition to providing consulting and fractional CEO, CFO, and COO services. The firm reports its clients manage over $12 billion in assets under management.
The firm has appointed a team of experienced executives for its Middle East operations. The team includes Martin Homberger, former head of regional compliance at Barclays Bank; Mark Emmerson, a veteran with over 40 years in banking; and Simon Calder, who previously served as Deputy CEO and COO for HSBC in the UAE. The group also includes cybersecurity specialist Tom Gamali and health care strategist Yoko Shimada, suggesting a broad scope of advisory capabilities beyond finance.
Mike Davis, who will lead the Dubai office, commented on the market drivers for the expansion. "As the Middle Eastern asset management industry continues to evolve, managers and their investors are putting a higher value on truly independent advice and support," he stated.
SOURCE: Daymer Group
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