My next guest knows this financial centre very well — he was the Chief Executive for the Dubai Financial Services Authority and is now Chair of Julius Baer in the Middle East. Brian, welcome back to Fintech TV.
Great to be here. Thank you very much.
Robinhood has made Dubai its regional headquarters. How do global players now see this market?
This market continues to expand. Robinhood has made this their regional headquarters and will continue to expand from here. The products Robinhood has fit a young, tech-savvy, eager-to-learn environment here — and we are very excited to be part of the DIFC with a great regulator like the DFSA, who has been very progressive. All of this fits really well with the future of finance — crypto, digital assets, stablecoins in particular.
Retail investing in the region is booming. What does a financial centre need to ensure retail investors can move into this sector with confidence?
There are two tracks. First, bringing more products and more services to retail customers — and I am happy you said retail investing and not retail trading, because that is what we want to encourage. Invest money, not look for something to double it today. The second track is financial literacy — and I am passionate about this. As we introduce new products to retail investors, we must introduce the education necessary for them to invest in those products in a safe way.
Does Robinhood have a responsibility here?
Robinhood not only has a responsibility for this — they have a wing dedicated to financial literacy and financial health. We are going to be with the customer the entire way.
Markets have sold off sharply today. How do financial centres stay steady in times like these?
Markets swing. This is part of capitalism. I found an interesting quote this morning — from an interview with Rebecca Patterson who has written a book on investment wisdom. She is talking about AI investments and saying it is too much of a good thing at the wrong time. There is a huge amount of crowding out taking place — hyperscalers are accessing more debt and equity, governments are accessing more finance. Those two demands on capital markets are taking all the air out of the balloon and pushing on other elements of the economy in various ways.
Family offices make up 60 to 70% of private banking clients here. How is that changing what wealth managers need to deliver?
Wealth management goes well beyond stock picking. This is not about which AI stock to buy and sell today. Wealth management is understanding you, your family, your conditions, what products are suitable for you long term — including succession. Julius Baer works with the government across the UAE, Dubai, and Abu Dhabi on where people want to live, how they want to educate their children, how to set up their offices, what investment portfolio suits them long term. Wealth management goes way beyond asset purchases and sales.
Brian, it was lovely to have you. We look forward to having you back very soon.
My pleasure. Thank you very much.
