GSB Capital is the first ever international advice firm to receive CISI status.
Based in Dubai, the advice firm was founded in 2021 by Ross and Alison Whatnall and provides a range of wealth management services.
To achieve CISI Chartered Firm status a firm needs to have regulatory recognition, 50 per cent of staff in the core area of the business must be CISI chartered and the firm must have CISI qualifications and CPD programmes in place.
The firm’s purpose and values must also align with the CISI Code of Conduct.
Matt Cowan, CISI regional director of MENA, said: “This indicates how the UAE financial services sector is developing and the importance of professionalism as a core component to any serious business.
“I expect many other firms across the region will follow the example set by GSB and seek CISI Chartered Firm status.”
Speaking to FT Adviser, Ross Whatnall said the firm has plans to expand internationally as well as grow its UK side of the business.
He said: “Alison and I are excited to focus on GSB Arabia, which we expect to receive CMA approval for later this quarter to support the fast growing ultra high net worth market of Saudi Arabia and GSB UK, which we intend to grow to the same size as the UAE within two years.”
The firm has had a string of recent senior hires including Nigel Gregory as global head of GSB Capital and Christopher Wright as head of UAE.
Whatnall also said the firm was recruiting for its newly formed Capital Markets division in a bid to cover the full spectrum of financial services.
alina.khan@ft.com
