In his new role, DJ Sengupta will build a team at WRISE’s Dubai workplace that will be responsible for meeting the wealth control demands of ultra-high-net-worth investors flocking to the region.
DUBAI – WRISE Group, a Singapore-based wealth control specialist, has appointed Dhruba Jyoti Sengupta as managing director of its Middle East operations and will lead its own in the region, the company announced on Tuesday.
In his new role, DJ Sengupta will build a team at WRISE’s Dubai workplace that will be tasked with meeting the wealth control demands of ultra-high-net-worth (UNHW) investors flocking to the region.
A post-COVID economic rebound, neutral political stance, ease of doing business, convenient time zones, and tax free status have all contributed to the United Arab Emirates (UAE), luring wealthy individuals in recent years.
A growing number of wealth managers in Asia are setting up offices in Dubai, capitalising on warming diplomatic ties between China and the Middle East and betting on a surge in demand from clients for geographical diversification.
DJ Sengupta brings over 25 years of experience working in the financial industry across the Middle East and North Africa (MENA) region, Singapore-based WRISE said in statement.
Prior to joining WRISE Wealth Management Middle East, he held senior wealth control positions at foreign financial institutions such as Citibank and most recently served as CEO of a family office.
The UAE saw the net influx of millionaires from the world in 2022, with the personal wealth hub reportedly garnering a net influx of another 4,500 last year, according to information from Dubai-based wealth and immigration adviser Henley.
According to the UBS Billionaire Ambitions report, the United Arab Emirates was home to 17 billionaires last year, up from 10 in 2022.
(Reporting via Leslie Adler)
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