Carmignac has inaugurated a new office in the Dubai International Financial Centre (DIFC) after obtaining authorization from the Dubai Financial Services Authority (DFSA) to conduct regulated activities. The firm has also appointed Christophe Younes as Executive Director of Carmignac Middle East Ltd and Head of Middle East.
This initiative marks an important milestone in Carmignac’s international expansion strategy and reinforces its long-term commitment to the region. The DIFC offers a robust regulatory framework, internationally recognized legal standards, and an efficient business environment, making it an attractive location for asset managers with a long-term strategic outlook, such as Carmignac. Dubai’s growing influence as a financial hub, supported by the Dubai Economic Agenda (D33), further strengthens its position as a regional center.
Based in Dubai, Christophe Younes will contribute to the development of Carmignac’s distribution in the United Arab Emirates and across the broader region, focusing on strengthening relationships with institutional and wealth investors. He will be supported by an experienced board of directors, which includes Habib Achkar.
Younes rejoined Carmignac earlier this year from PIMCO, where he was responsible for capital raising for the firm’s public and private investment strategies in France and Monaco, working primarily with private banks and family offices. Previously, he worked at Carmignac for 10 years, starting as a fixed income product specialist before moving to a sales role managing banking and institutional clients across France and Monaco. He is fluent in English, French, and Arabic. He holds a degree in Finance from Paris-Dauphine University and is a CFA charterholder.
Habib Achkar worked for over 30 years at Morgan Stanley, where he held various senior management roles, including Head of the Paris Trading Floor, Managing Director of Morgan Stanley Saudi Arabia, CEO of Morgan Stanley MENA, and ultimately Vice Chairman. He is the founder of Marcory Advisors Limited and joined Carmignac’s board of directors in 2024.
Carmignac’s investment capabilities encompass a broad spectrum of strategies: equities, fixed income, multi-asset, alternatives, and private markets. Its conviction-driven approach positions it well to protect the long-term interests of clients in the United Arab Emirates and across the GCC seeking diversified portfolios amid changing market conditions.
The decision to open a new office in the United Arab Emirates reflects Carmignac’s confidence in the country’s long-term growth prospects and its ambition to build lasting partnerships with local and regional investors in one of the world’s most dynamic and rapidly growing wealth management markets.
Rose Ouahba, Managing Director and Board Member of Carmignac Gestion Luxembourg and Carmignac Middle East, commented: “The opening of a dedicated office in Dubai marks a major milestone in Carmignac’s international ambitions. Building on our extensive experience serving private banks and institutional clients across Europe, we look forward to bringing our expertise to the United Arab Emirates, while learning from local and regional institutions.
I am delighted to welcome Christophe back to the team. His experience advising private wealth clients internationally makes him the ideal person to lead our expansion in this strategically vital and rapidly evolving market. His humility, technical expertise, and passion for this project have been a true source of inspiration as we embark on this new chapter.”
Christophe Younes added: “I am honored to lead the opening of Carmignac’s Dubai office, our first physical presence in the Middle East and the foundation for long-term growth in the region. As one of the world’s most dynamic and advanced financial hubs, backed by an ambitious economic agenda, Dubai offers active, agile, high-conviction asset managers like Carmignac unprecedented access to some of the most sophisticated and demanding investors globally. We look forward to making a meaningful contribution to the local investment ecosystem through our knowledge, expertise, and commitment to building long-term relationships.”
