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Eye of Dubai
Business & Money | Tuesday 19 December, 2023 8:38 am |
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Singapore-based multi-family office, Farro, establishes regional headquarters in DIFC

Farro Ventures, parent company of prominent Singapore-headquartered multi-family office Farro Capital and leading international mobility solutions provider Farro & Co, is expanding its footprint into the Middle East. Leveraging Dubai's regional strength as an emerging financial hub, this milestone builds on the firm’s deep commitment to enhancing its cross-border advisory platform capabilities to best serve the unique needs of ultra-high-net-worth (UHNW) families.

 

Farro Capital’s new office, located in Dubai International Financial Centre (DIFC), will offer access to a comprehensive range of wealth management solutions spanning investment management, philanthropy advisory, estate planning, family governance & succession, and more. This launch is also complemented by the establishment of Farro & Co’s presence in the International Freezone Authority (IFZA) under the guidance of Nirbhay Handa, Founder and CEO, and Abhishek Menon, Partner (Middle East), to provide a seamless array of additional immigration and mobility services that together will offer clients flexibility, resilience and peace of mind at a global scale.

 

Rajiv Garg, Co-founder and Managing Director, together with Vincent Valadares, Managing Director, will lead Farro Capital’s Dubai operations, spearheading client engagement, recruitment, and the further build-out of the firm’s footprint in the region. Commenting on the launch, Garg said, “The establishment of our Dubai headquarters is an exciting new chapter of Farro Capital’s growth story. The Middle East, with its rich history of trade, investment, and wealth generation, presents ample opportunities for our business. There is a rising demand for highly sophisticated wealth management solutions from independent firms like ours, who truly understand the intricate needs of wealthy clientele."

 

The UAE has built a strong reputation as a key financial hub for UHNW individuals and families in recent years, with the region’s family office market estimated to reach more than $1.0 trillion (AED 3.67 trillion) by 2026[1]. “Farro Capital will play a leading role in supporting the continued expansion of the UAE’s family office industry, bringing a unique blend of local insights and international expertise to every client relationship.” explained Hemant Tucker, Co-Founder and CEO of Farro Capital based in Singapore. 

 

Commending the launch, Arif Amiri, Chief Executive Officer, DIFC Authority said, "We are delighted that Farro is launching their Middle East headquarters in DIFC to accelerate their next phase of growth. Farro brings a wealth of knowledge and expertise to the region with a strong focus on wealth management and multi-family offices, sectors that make up a huge proportion of DIFC’s clients and the overall contribution to Dubai’s economy. The move further reiterates DIFC’s position as a leading global hub for international expansion, wealth management, and multi-family offices, and marks another important DIFC Strategy 2030 growth milestone.”

 

Established in October 2022, Farro Capital was originally founded by a distinguished team of financial industry leaders, each with their own unique professional expertise: Hemant Tucker (Market Head for Global South Asia and the Middle East, Bank of Singapore), Manish Tibrewal (Chief Executive Officer, Maitri Asset Management), Mahesh Kumar (Tax Partner, Withers Worldwide), Uthpal Rao (Executive Director, Bank of Singapore), and Rajiv Garg (Managing Director, Bank of Singapore). 

 

Farro Capital accumulated more than US$1 billion in assets under management within the first four months of the firm’s launch. Today the firm boasts 18 employees and has plans to continue expanding the team, with a particular focus on building up its Middle East presence to support a rapidly expanding client book.

 

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