French Insurance Giant AXA IM Alts Opens First Middle East Office in UAE
French multinational insurance company AXA IM Alts has made a significant move by opening its first Middle East office in the United Arab Emirates. This marks the company’s 16th office globally and is part of its strategy to expand its presence in key markets around the world.
Heading the regional drive for AXA IM Middle East is Saudi Arabia national, Ammar Bukhamsin, who has been appointed as the senior executive officer. He will also co-head the Middle East North Africa Client Group alongside Francois Boissin based in Paris.
Isabelle Scemama, the global head of AXA IM Alts, expressed the importance of this new office in Abu Dhabi, emphasizing the strategic significance of the Middle East in the company’s international growth plans. With assets totaling $200 billion managed on behalf of 600 clients worldwide, AXA IM Alts specializes in real estate, alternative credit, infrastructure, impact investment, and natural capital projects.
The opening of the new office in Abu Dhabi comes at a time when there is a growing focus on reducing the energy intensity of buildings, presenting opportunities for investment in sustainable real estate development. Scemama highlighted the company’s interest in working closely with local players, institutions, and individuals in the region.
While the primary goal currently is to establish a local presence to better serve clients, AXA IM Alts is considering future investment opportunities in the Middle East. Scemama stressed the importance of understanding local regulations and building a strong team to ensure successful deployment of capital in the region.
The appointment of Ammar Bukhamsin as the regional head is seen as a strategic move to create long-term opportunities for AXA IM Alts. With his extensive experience in the financial industry, including roles at Natixis and leading investment banks like Goldman Sachs, UBS, and Citi, Bukhamsin is well-equipped to drive growth in the Middle East market.
Florence Dard, global head of the client group at AXA IM Alts, highlighted the company’s commitment to expanding its presence in the Middle East and providing attractive alternative investment opportunities to sophisticated investors in the region. The opening of the office in Abu Dhabi aligns with AXA IM Alts’ goal of accelerating business development and strengthening relationships with Middle Eastern investors.
Arvind Ramamurthy, chief of market development at Abu Dhabi Global Market, praised AXA IM Alts for choosing Abu Dhabi as its base in the Middle East. With its sophisticated regulatory environment and abundant investment opportunities, Abu Dhabi is a prime location for asset management firms looking to tap into the region’s vibrant ecosystem.
In conclusion, AXA IM Alts’ decision to establish a presence in the Middle East reflects its commitment to serving clients in key markets and exploring new investment opportunities. With a strong leadership team in place and a focus on sustainable investment practices, the company is well-positioned to drive growth and innovation in the region.