DUBAI: GMG Limited, part of G2 Group, which is a family office based in Switzerland and specializing in investments and financial services across asset classes, Sunday announced that it has been granted a license by the Dubai Financial Services Authority to operate as an authorized firm from the Dubai International Financial Centre (DIFC).
G2 manages a series of highly focused fund of hedge fund investments in Switzerland, Russia and Latin America. The Swiss firm has as well a geographical spread portfolio of real estates investments, including hotels, agriculture and commercial and leisure sectors.
GMG as the brokerage arm of G2 Group will provide both traditional voice and electronic execution services for institutional clients from its base at the DIFC.
With offices in London and Paris and a FSA license, GMG is specialized in inter-dealing broker services in the wholesale financial markets facilitating the flow of liquidity in both OTC trades and transactions between commercial/investment banks and other financial and non-financial institutions around the world.
GMG will render its brokerage services to institutional clients such as banks, funds, sovereign funds, family offices, corporates and supra-nationals, and will not engage in retail business. As a broker, GMG will only be facilitating the transactions and will not be accepting or remitting funds for and on behalf of its clients.
Abdulla Mohammed Al-Awar, chief executive officer of the DIFC pointed out that: "GMG is a highly focused and specialized service provider which will add yet another facet to the regional financial services industry. There is already an appetite for specialist services of the company and with its arrival, this demand is only set to grow and deepen further."