For ADS Securities, the quest to capitalize on emerging financial markets in the middle east has resulted in an expansion into the provision of new services which include investment banking and asset management.
The firm, based in Abu Dhabi, UAE, recently completed the acquisition of London-based Pioneer Trader Ltd, giving the Emerati firm a presence in Britain and positioning it in a favorable position to build on financial services which are synonymous with established Western companies.
Privately owned ADS, which started operations with capital of $400 million in March 2011 as a dealer in foreign exchange and bullion, plans to develop from a brokerage into a full-service financial firm. Indeed, precious metal commodities have proven a successful venture for the electronic trading industry in the UAE, with the Dubai Gold and Commodities Exchange (DGCX) having reported substantial trading volume figures over the last year, supported by the popularity of its Indian rupee contract. Under the leadership of CEO Gary Anderson, the DGCX has benefited from Dubai’s position within the middle east as a gold trading hub.
With regard to ADS Securities’ provision of new services, the company’s CEO Philippe Ghanem explained to Reuters “We want to consolidate on what we have initiated in the new era of finance post-financial crisis.”
Although the company originates from Abu Dhabi and has its head office in the Emerati region, ADS also has a regional office in Hong Kong and a support office in Singapore, and a total of approximately 180 staff.
James Watson, former head of foreign exchange for Europe and the Middle East at Thomson Reuters, has been hired as the new managing director for ADS London.
According to Reuters, Mr. Ghanem had stated that ADS Securities, which currently has over 10,000 clients, experienced 60% growth in revenues compared to a year earlier in the first half of 2014.