Booking assets in the UAE need not mean concentrating the entire investment relationship in one market or with one custodian. At the Hubbis Middle East Private Capital Forum 2026, Philippe Crochu, Senior Director Wealth Management at Picard Angst MEA, presented a model that combines a Dubai International Financial Centre (DIFC) account with access to multiple markets and subcustodians across jurisdictions.

His In The Hubbis Hot Seat session focused on how that arrangement works for both direct clients and independent asset managers. The proposition brings onboarding, trading access and consolidated reporting into a single relationship, while allowing the underlying custody arrangements to extend internationally.

Key Takeaways


One Account Can Span Several Custodians: Crochu described access to multiple subcustodians in different jurisdictions through one Picard Angst MEA account.
The Service Follows the Mandate: Clients can choose execution-only, advisory or discretionary portfolio management according to their requirements.
Independent Managers Have a Route In: Regulated asset managers can manage investments for clients whose accounts are opened with Picard Angst MEA through a limited power of attorney.
Swiss Experience Meets DIFC Booking: The offering combines the group’s Swiss origins and structured-product expertise with a UAE booking centre.

 

A UAE Relationship With International Reach

Crochu traced the business to Picard Angst’s establishment in Switzerland in 2003 and its presence in the DIFC since 2014. He positioned the UAE offering around clients who want to book assets locally while diversifying their investments, asset classes, jurisdictions and custodians.

Picard Angst MEA holds a Category 2 licence from the Dubai Financial Services Authority (DFSA). Crochu described an offering that includes asset management and custody, with the account relationship providing access to a network of custodians and subcustodians.

The practical distinction is between the client’s point of access and the arrangements supporting the assets. A single relationship with Picard Angst MEA can accommodate several subcustodians in different jurisdictions, giving clients a way to diversify those arrangements while retaining a consolidated view of the portfolio.

Making the Account Usable

Crochu kept the operational explanation straightforward. Clients open accounts directly with the firm and, once onboarded, receive an account number, a designated International Bank Account Number (IBAN), online portfolio access and consolidated reporting.

He described the onboarding process as efficient and straightforward. Behind that client experience, the firm maintains client money accounts with custodians and subcustodians in different jurisdictions. The reporting brings those relationships together, making the international arrangement accessible through one account.

For wealth professionals considering the platform, these details give substance to the booking proposition: how a client enters the relationship, how the portfolio is accessed and how assets held through different custody arrangements are reported.

Supporting Clients and Independent Asset Managers

The service can be adapted to the level of investment involvement a client wants. Crochu outlined execution-only, advisory and discretionary portfolio management, alongside direct access to the trading desk across a broad range of markets and asset classes. Structured products remain an established strength of the group.

Financial intermediaries are also part of the model. Crochu said Picard Angst MEA works with regulated independent asset managers worldwide, opening accounts for their clients and enabling the managers to direct investments through a limited power of attorney. This gives the independent manager a route to serve the client through the firm’s account and execution infrastructure.

“Swiss heritage, Swiss DNA, Swiss efficiency” was Crochu’s shorthand for the business. He linked those qualities to DIFC booking and international market and custody access, presenting the single account as the organising point for a globally diversified wealth relationship.

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Disclaimer: Picard Angst MEA Limited is regulated by the Dubai Financial Services Authority (DFSA) and provides financial services to eligible Professional Clients and Market Counterparties only, not Retail Clients. This article is for general information only and does not constitute investment advice or an offer or solicitation of financial services.