*"The Middle East represents not just a market, but a nexus of generational wealth and innovation. Our expansion to Dubai is a natural evolution of Astera’s commitment to serving ultra-high-net-worth families globally,"* said Claire Montague, CEO of Astera Family Office, announcing the firm’s strategic move into the United Arab Emirates.
Astera Family Office, a boutique advisory firm specializing in wealth preservation, governance, and legacy planning, has officially opened its new Dubai office, marking its first physical presence in the Middle East. The move comes amid a surge in demand from Gulf-based families seeking sophisticated cross-border wealth management solutions. With over $12 billion in assets under advisement globally, Astera’s reputation for discretion and bespoke services has positioned it as a trusted partner for multi-generational families navigating increasingly complex financial landscapes.
The decision to expand into Dubai is rooted in the emirate’s growing appeal as a global financial hub. Over the past decade, Dubai has carved out a niche as a magnet for high-net-worth individuals (HNWIs), bolstered by its favorable tax regime, robust legal framework, and strategic geographic position bridging East and West. The UAE’s recent introduction of family office regulations and long-term residency programs has further cemented its status as a destination for wealth preservation.
Astera’s Dubai office aims to address the unique challenges faced by Middle Eastern families, including wealth succession, cross-border tax compliance, and philanthropic structuring. According to Montague, the firm’s localized presence will enable deeper relationships with clients while leveraging Dubai’s infrastructure to seamlessly coordinate with Astera’s offices in Zurich, Hong Kong, and New York.
This expansion also reflects a broader trend among global family offices, many of which are reevaluating their geographic strategies in the wake of shifting economic and geopolitical realities. The Middle East, with its concentration of oil wealth and emerging diversification initiatives, has emerged as a critical market. Astera’s move underscores a recognition that modern multi-family offices must offer not only global expertise but also a nuanced understanding of regional dynamics.
*"Families in this region are grappling with a dual mandate: preserving their legacy while positioning themselves for an increasingly globalized future,”* noted Omar Al-Hadid, Astera’s newly appointed Managing Director for the Middle East. “Our goal is to provide them with the tools and frameworks to achieve both, underpinned by the highest standards of governance and confidentiality.”
Astera’s foray into Dubai is expected to set a precedent for how family offices approach emerging markets. By establishing a foothold in the UAE, the firm is not only catering to existing clients in the Gulf Cooperation Council but also capitalizing on opportunities to forge new partnerships with institutional stakeholders and sovereign entities.
The opening of the Dubai office serves as a reminder of the evolving nature of wealth management. As regulation tightens globally and the appetite for diversification grows, family offices are stepping into roles traditionally occupied by larger financial institutions—offering agility, personalization, and strategic foresight.
Astera’s move signals a broader realignment in global wealth management, one that acknowledges the Middle East’s pivotal role in shaping the future of ultra-high-net-worth ecosystems.
(Editors: admin)