Singapore-based multi-family office WRISE has announced the establishment of a new office in the Middle East.
WRISE has opened a Dubai office under the subsidiary, WRISE Middle East, which is dedicated to serving the ultra-rich and family offices in the United Arab Emirates (UAE) as well as the broader region, according to a statement.
«The UAE is set to see an increase of 24.6 percent in the number of high net worth individuals (HNWI) by 2025,» said WRISE Group chairman Derrick Tan. «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.»
Hot Spot For Superrich
Dhruba Jyoti Sengupta will lead the business as CEO of WRISE Middle East. Sengupta has over 25 years of experience across the Middle East and North Africa (MENA) region. Previously, he held senior wealth management positions at financial institutions like Citibank and was most recently the CEO of a family office.
«Dubai has traditionally been a hot spot for ultra-HNWI 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 customizable wealth tech platform, will be key to meeting their modern wealth management demands in this digital age,» Sengupta said.
