Octogone Expansion: Navigating opportunities in the UAE
12.12.2023 – Interview of Philipp Strasky, Senior Executive Officer of Octogone Middle East (Dubai)
What is the strategic advantage of having an office in Dubai?
Dubai and the Middle East have experienced a significant economic upswing for several years, particularly in the finance industry. Dubai stands out as an attractive destination boasting a combination of a favorable tax regime, good security, a high standard of living, and excellent educational institutions. The region’s remarkable growth has enticed individuals and wealthy families from diverse corners of the globe.
On a wider scale in the Middle East, countries like Saudi Arabia, Oman, Bahrain, Kuwait and Qatar are showing substantial potential, contributing to the overall economic dynamism in the region.
How do you differentiate your wealth management services in Dubai’s competitive financial landscape?
We are capitalizing on the expertise of our partners, particularly in Hedge Funds and alternative investment opportunities. Moreover, Octogone’s robust offer of banking solutions enhances our competitive edge. Clients value the unique combination of our Swiss foundation and our status as an international External Asset Manager. Finally, the diversity within our team further sets us apart, distinguishing us from competitors who often focus on narrower target markets.
How does the cultural and economic diversity in Dubai influence your approach to wealth management and client relationships?
The key to our success is and will be our ability to not merely provide a service but to serve our clients with the utmost standards and act as their true partners. The diversity in Dubai brings several types of clients and social structures, demanding from us flexibility and resilience to evolve into trusted partners for our clients. Our goal is to mirror this diversity within our team, fostering an environment that understands and caters to the diverse needs of our clients.
Can you share any specific achievements you are aiming over the next few years?
Over the next three years, we aim to manage assets exceeding 1 billion CHF from this office, leveraging the strengths of the existing team and any potential new additions.
Indeed, our objective for 2024 is to expand the team by adding 1 to 2 Relationship Managers (RMs) who align with Octogone’s ethos and the team dynamics here. Fostering a strong working spirit is integral to our success, and we recognize the significance of having the right individuals on board to sustain the continuous growth trajectory of our office.
The initiation of this process has already taken place with Faraz Sultan, an Octogone partner and a member of the group board, who joined the OME office in December, after previously being based in Geneva. His contributions and wealth of experience are anticipated to greatly benefit the entire team.
