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ADGM Leads as Capital of Capital Closes 2023

Abu Dhabi Global Market (ADGM) has concluded a successful 2023, solidifying its position as the fastest-growing financial center in the region for two consecutive years and establishing Abu Dhabi as a globally recognized financial hub. The growth in ADGM’s asset management sector was particularly impressive, with a 35% increase in assets under management compared to 2022.

ADGM has become a preferred destination for global asset managers, with 102 asset managers managing 141 funds. The financial hub also saw a significant increase in the number of operating units, with 1,825 units compared to 1,378 in 2022. Major industry players such as Goldman Sachs, Blackstone, and JP Morgan have established headquarters in ADGM, contributing to the hub’s rapid growth.

In addition to financial institutions and investment banks, ADGM has also attracted companies in the fintech and sustainable finance sectors. Abu Dhabi Finance Week (ADFW) 2023 showcased the best in the industry, with over 18,000 visitors and 300 international speakers participating in the event.

The “Year of Sustainability” in 2023 saw ADGM leading initiatives to promote sustainable finance, aligning with Abu Dhabi and the UAE’s sustainability goals. The establishment of the Global Climate Finance Center (GCFC) at the COP28 highlighted ADGM’s commitment to advancing climate finance frameworks globally.

Key achievements in 2023 included the expansion of ADGM’s jurisdiction to include Al Reem Island, making it one of the largest international financial districts in the world. ADGM also published its first Money Laundering and Terrorist Financing risk assessment report and announced revisions to its Anti-Money Laundering and Sanctions Rules.

Overall, ADGM’s growth and success in 2023 underscore its position as a key player in the global financial landscape. With continued positive outlook for 2024, ADGM is set to further strengthen Abu Dhabi’s reputation as the ‘Capital of Capital’ and drive economic growth in the region.

For more information on ADGM and its initiatives, visit their website and stay tuned for updates on upcoming events and developments.

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