Barrenjoey expands to Abu Dhabi
Make us a preferred source
Make us a preferred source on Google
The news: Investment bank Barrenjoey will open its first overseas office in Abu Dhabi, a company spokesperson told Bloomberg.
The context: The Sydney-based investment bank’s first overseas expansion will offer fixed-income sales and trading services to the Middle East while also allowing Barrenjoey to increase its time zone coverage across Europe and the US.
First launched in September 2020 under investment from Magellan Financial Group and Barclays, the bank now has more than 350 employees and operates in Sydney, Melbourne and Perth.
According to Abu Dhabi Global Market, total assets under management rose 211% within Abu Dhabi during the first quarter of the year, compared to a year prior, due to money managers rushing to the emirate.
There are now 107 asset and fund managers operating in Abu Dhabi, managing 137 funds.
Barrenjoey's move follows investment banks Rothschild & Co. and Morgan Stanley’s expansion into Abu Dhabi last year.
The sources: Bloomberg, Abu Dhabi Global Markets
