Capital Group Plans Abu Dhabi Office in ADGM Expansion Update

Capital Group has announced plans to open its first office in the Middle East, selecting Abu Dhabi Global Market (ADGM) as its regional base. The office is expected to formally open later this year, pending regulatory approvals.

The move marks a new phase in the firm’s global growth strategy, with a clear focus on expanding its presence in high-potential markets. Capital Group pointed to the Middle East, particularly the United Arab Emirates and Abu Dhabi, as a rapidly developing financial hub supported by institutions such as the Abu Dhabi Investment Office.

The Abu Dhabi location will become Capital Group’s 35th office worldwide. The firm stated that, consistent with its broader approach, it intends to build its presence gradually, aligning expansion with client demand and its long-term investment philosophy.

Capital Group Plans Abu Dhabi Office in ADGM Expansion Update

H.E. Ahmed Jasim Al Zaabi, Chairman of ADGM, welcomed the announcement, noting that the decision highlights growing interest from global financial institutions in Abu Dhabi as a base for regional operations. He pointed to the emirate’s regulatory framework, institutional strength, and access to long-term capital as factors supporting sustained growth.

Mike Gitlin, President and CEO of Capital Group, described the expansion as a deliberate step. He said the firm moves forward only when there is strong conviction, adding that the new office reflects its intention to deepen relationships with partners across the Middle East and explore further investment opportunities in the region.

To lead the initiative, Capital Group is relocating Benno Klingenberg-Timm, currently Head of Institutional for Europe and Asia, who will also oversee the Abu Dhabi office.

Klingenberg-Timm highlighted the UAE’s position as a global financial centre and noted the broader growth trajectory of the Gulf Cooperation Council. He described the region as both a key market and a strategic link connecting Europe, Asia, and Africa.

The expansion aligns with ADIO’s efforts to develop a financial services ecosystem through its FIDA platform, focusing on fintech, insurance, digital assets, and alternative investments. Fatima Al Hamadi said the initiative aims to support evolving global capital flows and strengthen market connectivity.

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