ADSI granted financial services permission by ADGM
On the 7 December 2017, ADS Securities incorporated a new subsidiary, ADS Investment Solutions Limited (ADSI), in the Abu Dhabi Global Market (ADGM).
ADSI then applied for and was granted a Financial Services Permission (FSP) by the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM) on the 28 December 2017. This authorises ADSI to pursue a range of investment activities outlined in section 35 of the ADGM’s Financial Services and Markets Regulations (2015).
ADSI is a subsidiary of ADS Securities LLC, the global investment firm based in Abu Dhabi with offices in London, Singapore and Hong Kong, which has been established to provide investment management activities and investment product creation.
ADS Securities was established in 2011 and has grown from a specialist currency and commodities brokerage into an international finance house with global reach.
ADS Securities Chairman, Mahmood Ebraheem Al Mahmood, was pleased that the new ADS Securities entity is now operating out of the ADGM, saying, “The global market in Abu Dhabi is opening up new opportunities for the Emirate’s financial services sector. We are seeing strong demand across all investment areas off the back of robust global growth, and by moving into the ADGM we can provide investors with the same high-quality services we deliver to our clients in other jurisdictions.”
Under the new licence ADSI can manage assets; arrange custody; arrange investment deals; arrange credit; and manage collective investment funds.
“As a firm we are on a journey, a mission, to provide more investors with access to our services so it is essential we are regulated and licenced in the important markets. The setting up of ADSI will be of benefit to a range of institutional investors and family offices as it dramatically increases our ability to manufacture and offer the products they are looking for,” said Philippe Ghanem, CEO and Vice Chairman of ADS Securities.
Dr Ryan Lemand, appointed as the Senior Executive Officer in charge of ADS Investment Solutions, that the firm is already in discussions around a number of high profile projects which can be taken forward and implement through the new entity.