Conor Ogle

Spent some time with the Dubai Financial Services Authority (DFSA)’s latest thematic review on fund management self-custody. It makes for fascinating reading, especially if you’re the sort who reads regulatory reports the way others read thrillers. Yeah well, so I am a sad git like so. Someone has to do this adult stuff, you know? What stood out is just how much of the domestic fund AUM in DIFC sits under self-custody, and how much responsibility that places on managers. The Dubai Financial Services Authority (DFSA)’s findings were clear. Some firms have adopted Public Fund-level controls even for QIFs and Exempt Funds. Others, however, showed worrying gaps in policies, liquidity risk management, and conflict disclosures. I reviewed it from different Dubai hats that I wear. From my/a family office perspective, the big question is whether asset safety, transparency, and liquidity are being properly addressed. For a fund services firm like Apex Group Ltd, it highlights the importance of providing policy frameworks, oversight and independent monitoring. For a fund manager like Truleum Venture Partners, it is a reminder that cost-savings from self-custody come with heavier governance responsibilities. For a digital custodian like Liminal Custody , this is a playbook for how to embed compliance, audit trails and access control into digital-native custody solutions. For a family office advisory like DR Partners L.L.C, it is another proof point that our job is to help families build operational resilience that goes beyond minimum regulatory standards. And from the perspective of simple nosiness, it shows regulators are rightly probing where risks really lie. Self-custody is clearly growing, but the DFSA has shown that best practice means adopting strong governance, clear disclosure and Public Fund-level controls, even where the rules do not formally demand it. This is a benchmark report that others will follow, particularly as digital assets and private funds expand. The full report is here: DFSA Fund Management Self-Custody Thematic Review https://lnkd.in/er2T6zpj #DFSA #FundManagement #WealthManagement #FamilyOffice #AssetManagement #CorporateGovernance #Compliance #DIFC #FundManagement #SelfCustody #DFSA #WealthManagement #DigitalAssets #FamilyOfficeAdvisory #ApexGroup #Governance

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My contribution to the Aletihad English article by Batool G.: "We are not observing any disruption in demand or business activity at this stage. If anything, periods of uncertainty tend to reinforce the relevance of disciplined asset allocation and well-structured investment solutions." https://lnkd.in/dWatmRjF

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"A sweeping generational shift is transforming how #familybusinesses across the UAE are owned, governed and prepared for the future, as the region undergoes what experts describe as a historic “great wealth transfer.” According to senior leaders at #DeloittePrivate, this transition is not only transferring assets from founders to heirs — it is fundamentally reshaping the structures that underpin some of the region’s most influential companies. Dr. Rebecca Gooch, Deloitte Private Global Head of Insights, describes the UAE and wider Middle East as “one of the fastest‑growing family business arenas in the world,” citing data showing more than 500 families run companies generating over $100 million in revenue, a figure expected to rise by 10 per cent by 2030. She attributes this dramatic rise to “unprecedented wealth creation, pro‑business reform, and a new wave of next‑generation leaders who are professionalizing their organizations at speed...” Somshankar Bandyopadhyay thanks for your great article and interest in our family business research! https://lnkd.in/eiYmhD6g

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UAE Cabinet led by Sheikh Mohammed approves new economic clusters policy to add $8.2bn to GDP, plus initiatives in health, AI and sustainability

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Wealth is Relocating Over the past two years, the Gulf has moved from being a source of liquidity to a destination for global capital. Sovereign wealth funds from the region accounted for 40% of global SWF activity in 2025, deploying more than US$ 56 billion across 97 international deals. Venture investment in the GCC surpassed US$ 3.5 billion, while IPOs raised another US$ 2.3 billion in Q2 2025 alone. This momentum is not speculative — it’s structural. Legal frameworks, regulatory autonomy, and digital transformation are aligning to turn Gulf markets into long-term investment environments rather than temporary opportunities. Within this broader transition, Qatar Financial Centre (QFC) Authority illustrates the region’s evolution. In H1 2025 alone, 828 new firms joined QFC — a 64% increase year-on-year — supported by a 90% reduction in setup fees and the launch of the Digital Assets Framework 2024, which allows tokenization and digital finance innovation under clear regulation. What’s emerging is a new type of financial infrastructure: one that blends onshore access, international governance, and digital readiness. As capital continues to flow into the GCC, these structures are becoming less about incentive — and more about designing trust for the next economy. Article: https://lnkd.in/ePHjCB4K

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In the UAE, where millions rely on Person-to-Person (P2P) remittances to support families back home, we’re seeing a shift. Licensing regimes are evolving, with the Central Bank of the UAE (CBUAE) tightening oversight and redefining what it means to move money across borders. (We’re in the process of applying for one of these licenses ourselves, more on that later.) But here’s what’s been bothering me lately: In the race toward APIs, apps, wallets, and automation we’re losing the PERSON in P2P. We’ve stopped listening. We’ve stopped sitting across from the customer, hearing their stories, their fears, their expectations. We’ve started designing products for them instead of with them. Every ethnic community, whether it’s a Filipino housekeeper, a Bangladeshi construction worker, or a Kenyan small business owner or a Pakistani driver or a Nepali guard all have a different remittance rhythm. One-size-fits-all tech is convenient, but it’s not always what they need. Digital is the future, no doubt. But I believe empathy is the foundation. If you're in payments or fintech, I urge you: Go visit your users. Talk to them in the language they speak. Watch how they send money. Feel the weight behind a $200 transfer. I wonder how many of digital marketeers have visited the labor camps in UAE to understand what their customers actually want. #remittances #digitalpayments #financialinclusion #paymentsolutions #paymentsystems #paymentindustry #payments #mobilemoney #paymentgateway #innovation #management #socialmedia #personaldevelopment #networking #health #storytelling #partnershiphashtag #inspiration #success #cashless #contactless

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Some reflections from the ground here in the UAE. You learn a lot by being in the room. Listening more than talking. Asking the second question, not always the first. Over the last few months, I’ve spent time with senior leaders across government, financial services, and infrastructure And while the challenges vary, The patterns are clear. There’s pressure to move fast, But not at the expense of control. There’s demand for transformation, But fatigue from being oversold and underdelivered. And there’s talent in the region, But not always the right mix at the right time. No single model fits all. And honestly, that’s the point. Everything we’re building here - advisory and delivery. Team structures are shaped around what we’re learning in real time. Not what looks good on a slide deck. #SmartChoiceUAE #ConsultingInContext #MiddleEastBusiness #LeadershipOnTheGround #DigitalAdvisory

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Most family businesses are built on trust. Few are built to last. DIFC and Emirates NBD have launched a strategic partnership to help change that by supporting family enterprises with the tools they need to grow across generations. Through the DIFC Family Wealth Centre, families will now have access to: ↳ Tailored governance and succession planning frameworks ↳ Wealth preservation and tax structuring tools ↳ Family office education and legacy-building support ↳ Access to cross-border investment services and asset protection With over $1.2 trillion in assets managed by top families in DIFC alone, this isn’t a niche service it’s a national economic backbone. And yet, without clear governance or transition plans, even the strongest businesses can lose their way after one generation. This move is a reminder: Sustainable wealth needs more than good returns it needs clarity, structure, and shared vision. What’s the biggest challenge you’ve seen in multi-generational business planning? Emirates NBD Dubai International Financial Centre (DIFC) Properties

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UAE private banking AUM is growing at 12% annually—talent supply? Only 6%. The gap is widening, and it’s changing how teams think about hiring and retention. 3 trends I’m noticing across the market: Repatriation Is Gaining Ground: There’s renewed interest in bringing experienced Gulf nationals back from roles in Zurich, London, or Singapore. Some are returning through targeted government incentives—others by choice, as leadership roles open up in the region. Talent Partnerships on the Rise: Firms across the GCC are exploring faster ways to develop and deploy talent internally, particularly at the intersection of private banking and tech. Structured upskilling and internal mobility are starting to replace costly lateral hires in certain functions. Although this might not be enough from my perspective. Upskilling Is No Longer Optional: With digital tools becoming embedded in portfolio and compliance workflows, bankers who lack AI fluency or cross-border tax knowledge are at growing risk of being left behind. Quiet attrition to fintech platforms is already underway in a few key markets, but historically, this has been quite a slow process. It would be good to hear if anyone else is noticing this or something different.

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AI governance is a whole-of-board responsibility. Over the past few weeks, I’ve shared a 5-part series on AI governance, written for boards, by a board director. From Risk → Capability → People & Culture → Strategy, my perspective is simple: AI will impact every organisation and must therefore be governed as a whole-of-board responsibility. - Risk Committees protect the organisation from harm, and from the risk of being left behind. - Technology Committees steward capability, resilience, innovation, and safe, fast adoption. - People & Culture Committees govern workforce change, skills uplift and augmented organisational design. - The Board, guided by the Chair, integrates these lenses into strategy, capital allocation and value creation. This holistic approach ensures AI is harnessed for maximum organisational benefit. #BoardLeadership #AIGovernance #Strategy #DigitalOversight #Innovation #NonExecutiveDirector #Chair #NED #AI #Governance #Boards #innovation #technology #growth #opportunity #Strategy #RiskCommittee #TechnologyCommittee #Board 📖 Read the full series linked on my profile

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Amaiz 💡 Just back from Digital Transformation EXPO (DTX) 2025 at ExCeL London - and it delivered exactly what it promised: innovation at the intersection of technology, people, and process. Over two packed days, I connected with thought leaders, explored cutting-edge tech, and picked up ideas we can actually use on how organisations are reimagining infrastructure, security, and service delivery in real-time. A few key themes that stood out: 🔄 Digital transformation isn’t a project - it’s a mindset 🛡️ Cyber resilience is now a board-level priority, not just an IT concern 🤖 AI is only as powerful as the processes it enhances Thanks to the organisers and speakers for creating such a focused, forward-thinking environment. #DTX2025 #Amaiz #Businessfinances #Paymentcards #Moneytransfers #Internationalpayments #DigitalTransformation #B2BTech #ITLeaders 

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It was very good to hear from Mark Steward of the Dubai Financial Services Authority (DFSA). Given the very challenging circumstances, his timely, on-the-ground insights into the situation facing the funds industry in Dubai were an especially valuable contribution to AIMA - The Alternative Investment Management Association's Global Policy and Regulatory Forum held in Dublin today. My thoughts are with everyone affected in the United Arab Emirates and across the Middle East. Jack Inglis Jiri Krol Adam Jacobs-Dean Dawn A. Drew Nicol

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Anyone who knows Norhan Ezzat, CFA, knows how articulate she is and how genuinely passionate she is about transaction banking. So it was a real pleasure to sit down with her in Dubai recently to talk through the thinking behind her latest move: joining Bank of Sharjah to build its transaction banking franchise from the ground up. If you’re interested in where transaction banking in the region may be heading – and how leaders are approaching the next phase of digital and product development – it’s well worth a read.

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