Dubai International Financial Centre
In December 2005, EFG Hermes was granted a license by the Dubai International Financial Centre to conduct asset management and investment banking activities. EFG Hermes UAE is regulated in this capacity by the Dubai Financial Services Authority, an independent regulatory authority that operates to the standards of major financial centers such as London and New York City. Out of Dubai, the firm manages the region's top performing funds and has closed a number of landmark investment banking transactions. In February 2006, EFG Hermes UAE was also granted a license to conduct brokerage activities from within the Dubai International Financial Centre and became the first regional trading, clearing and custody member of the Dubai International Financial Exchange, its wholesale exchange.