New Chief Executive Officer (CEO) and team to serve UHNW clients in the UAE and grow opportunities in the region
SINGAPORE, HONG KONG SAR and DUBAI, UAE 30 January 2024 – WRISE Group today announced the official establishment of WRISE Middle East, its Dubai subsidiary office dedicated to serving the operational needs of the ultra-rich and their family offices in the United Arab Emirates (UAE) and across the greater Middle Eastern region, following the award of the Category 3C licence in 2022.
The UAE’s economy has been a beacon of light in today’s volatile financial climate, with the World Bank estimating its expansion to hit 3.7% in 2024, up from its previous estimate of 3.4% respectively. Dubai, as UAE’s most populous city and the capital of the Emirate of Dubai, is the country’s financial gateway to the Middle East, Europe and the world, thus presenting numerous opportunities for WRISE Group to grow its business.
“The UAE is set to see an increase of 24.6% in the number of high net worth individuals (HNWIs) by 2025,” said Derrick Tan, Chairman, WRISE Group. “With an increasing congregation of the wealthy in this part of the world, we are excited to offer our services, expertise and technology to the ultra-wealthy community to meet their myriad wealth management and estate planning needs.”
The Group has appointed Mr Dhruba Jyoti (DJ) Sengupta as Chief Executive Officer (CEO), WRISE Middle East. Mr Sengupta brings over 25 years of experience working in the financial industry across the Middle East and North Africa (Mena) region. Having held senior wealth management positions at international financial institutions like Citibank N.A. and most recently the CEO of a family office, he is primed to grow the Dubai team of client servicing experts and expand WRISE’s range of offerings in these dedicated markets.
“Dubai has traditionally been a hot spot for UHNWIs in the European and the Mena regions to live and work, so with more of the world’s wealthy expected to migrate here, I strongly believe that our depth of investment and wealth management expertise, together with TREX, our highly customisable wealthtech platform, will be key to meeting their modern wealth management demands in this digital age,” said DJ Sengupta.
With the establishment of WRISE Middle East, WRISE Group has direct representation in some of the key financial regions of the world, including the Middle East, Southeast Asia and Greater China. To these markets, WRISE Group is primed to deliver a comprehensive mix of wealth management, wealth planning and technology innovation offerings over a holistic approach that begins with a deep understanding of clients’ needs, before creating highly customised wealth solutions for their desired outcomes.
