GMG Limited, part of G2 Group, which is a family office based in Switzerland and specializing in investments and financial services across asset classes, today announced that it has been granted a licence by the Dubai Financial Services Authority to operate as an authorized firm from the Dubai International Financial Centre (DIFC).
G2 manages a series of highly focused fund of hedge fund investments in Switzerland, Russia and Latin America. The Swiss firm has as well a geographical spread portfolio of real estates investments, including hotels, agriculture and commercial and leisure sectors.
GMG as the brokerage arm of G2 Group will provide both traditional voice and electronic execution services for institutional clients from its base at the DIFC.
With offices in London and Paris and a FSA licence, GMG is specialized in Inter-dealing Broker services in the wholesale financial markets facilitating the flow of liquidity in both OTC trades and transactions between commercial/investment banks and other financial and non-financial institutions around the world.
GMG will render its brokerage services to institutional clients such as banks, funds, sovereign funds, family offices, corporates and supra-nationals, and will not engage in retail business. As a broker, GMG will only be facilitating the transactions and will not be accepting or remitting funds for and on behalf of its clients.
Abdulla Mohammed Al Awar, Chief Executive Officer of the DIFC Authority pointed out that: "GMG is a highly focused and specialised service provider which will add yet another facet to the regional financial services industry. There is already an appetite for specialist services of the company and with its arrival, this demand is only set to grow and deepen further."
The activity from the Dubai office will be specialised on fixed income execution (IRS, IRS options, FX options, FX swaps, Bonds, CDS) and equity derivatives.
The two founding partners of the firms have a combined expertise in the financial brokerage business of over 30 years. Marco Saviozzi, CEO of GMG Ltd was previously managing director and co -head of trading at Newedge Dubai. He was managing director for 14 years at ICAP London and New York on fixed income and equity derivatives.
Guillain Carpentier, Managing Director of GMG was as well the managing director and co-head of trading at Newedge Dubai, and previously Co-Head at HPC Paris and managing director and Shareholder of Paresco Paris and ODB/AXA New York.
Marco Saviozzi said: "We are delighted to receive a licence from the DFSA, one of the most prestigious and recognized regulator in the global financial market. Our expansion after opening in London and Paris was logically Dubai. As a visionary country and a perfect geographical location, our DIFC office will allow GMG to cover local clients and provide them with prices from emerging markets to European, Asian and US products. Our strong team of senior brokers will assure a professional and dedicated service to our institutional clients."
Supported by its headquarter in London. GMG will also provide access to its international client network to the local fixed income market.
"GMG intends to fill the niche as the market leader in local fixed income execution for institutional clients. Already we have seen tremendous appetite from the GCC clients to have a 100 per cent focused broker on those products," Marco Saviozzi added.
