Dalma Capital Group Acquires The Global CIO Office: Creates Full Service Integrated Platform for Funds, Investment Banking and Wealth Advisory

Investment industry leader Gary Dugan named Chief Investment Officer of Dalma Capital

Dalma Capital Group, a global alternative investment management platform and advisor, has agreed to acquire The Global CIO Office, an independent, outsourced chief investment officer services business with a global network of investment professionals. The Global CIO Office will become the Dalma Global CIO Office, providing outsourced chief investment officer services to family offices seeking global strategic investment advisory services with true independence.

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The Dalma Global CIO Office will operate as a segregated arm of Dalma Capital and provide professional clients with independent advice and portfolio management expertise. It will initially service clients with a minimum account size of $50 million.

Gary Dugan, Founder and Chief Executive Officer of The Global CIO Office will be joining the Dalma Capital Group in the newly established role of Chief Investment Officer of Dalma Capital and will be responsible for managing the Dalma Global CIO Office. He will be based in Dubai.

Gary Dugan has been a high-profile investment professional in Europe, Middle East and Asia for the past 40 years. He established The Global CIO Office in the UAE in 2017. Previously, for the core of his career Mr. Dugan was a Managing Director at JPMorgan. He is a former Chief Investment Officer of both Emirates NBD and of the National Bank of Abu Dhabi. He was also the Managing Director and CIO for Asia and Middle East at Coutts, and the Managing Director and CIO of Merryll Lynch Wealth Management EMEA.

“I am delighted to be joining the Dalma Capital family,” commented Gary Dugan. “Our combination will enhance our service for Global CIO’s clients, by leveraging Dalma’s strength and market access not only in the EMEA, but globally. Dubai has become an increasingly attractive domicile for family wealth, and we are positioned to be their trusted advisors.”

The Global CIO Office is an independent outsourced CIO services business with a global network of investment professionals who have typically been CIOs at leading wealth management groups. The team offers advisory, discretionary investment management and consultancy services to wealth management companies and single- and multi-family offices around the world.

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The acquisition of The Global CIO Office completes Dalma Capital’s service offering and will create a full-service integrated platform for funds, investment banking and wealth advisory. Importantly, it comes at a time when family offices’ needs for handling the challenging macro-economic landscape is greater than ever.

“Combining Dalma’s institutional platform with The Global CIO Office’s market leading advisory services is a 1+1=11 opportunity for clients,” said Mishal Kanoo, a member of the Board of Directors of Dalma Capital. “Many families in EMEA and Asia Pacific need Chief Investment Officer capabilities and are overly dependent on private banks.”

“Leading families with large portfolios and complex businesses need the best strategic advice for their investments, but a full time, in-house Chief Investment Officer is often impractical,” commented David Gibson-Moore, another member of the Board of Directors of Dalma Capital. “The Dalma Global CIO Office will provide ultra-high-net-worth families with a level of sophisticated in-house investment capability that is otherwise only available to the largest, most complex family offices.”