Carne Global Financial Services, an independent business adviser to the hedge fund, traditional fund and wealth management industries, has announced the opening of an office in Dubai.Carne Global Financial Services, an independent business adviser to the hedge fund, traditional fund and wealth management industries, has announced the opening of an office in Dubai.

Carne says the new office will allow it to capitalise on Dubai's position as a leading domicile for wealth management and will provide it with an important local presence to serve the needs of the growing investment community in the Gulf Cooperation Council countries.

The Dubai office will offer the full range of fund lifecycle services and expertise already available from Carne's other offices in Dublin, London, Geneva, Luxembourg and the Cayman Islands.

Carne Dubai will initially focus on asset management set-up, regulatory compliance (including outsourcing), IT and operations and assisting family offices. The Dubai office will also be responding to the growing demand from regional asset managers for Ucits funds, including ETFs.

Robert Law has been appointed managing director of Dubai, joining from ICM Asset Management, an investment advisory firm, which he joined in 1995. At ICM he held the positions of chief compliance officer, general counsel, director and executive vice president. Earlier he was in private practice with US law firms Alexander and Baucus, Alley Burdett and Larson, and Larson, Law & Herr.

Law is joined by Gary Shelley who has worked in the asset management and servicing business for the last ten years. Shelley has extensive investment IT systems and operations expertise and is an experienced project manager. He has spent the later part of his career working as an independent IT consultant and was most recently engaged at ABN Amro Asset management working on various outsource projects and the integration to Fortis Investments.
 
John Donohoe, chief executive officer of Carne Global, says: 'Carne has had a presence in the Gulf region for some years, advising key investment industry clients, private banks and family offices. Due to increasing demand for advice on all aspects of establishing fund structures, now is the right time to establish ourselves here on a permanent basis.'