The Abu Dhabi-based international holding company announced on Friday that it plans to launch Judan Financial Holding, a new AI-enabled international financial services holding company that will manage more than 870 billion dirhams ($236.88 billion) in assets.
Judan Financial will combine the financial services assets of IHC, Alpha Dhabi, 2PointZero Group and Sirius International Holding across banking, insurance, asset management, wealth management, capital markets, non-bank financial services and financial technology based on their respective shareholdings and subject to regulatory approvals as required.
The company is expected to be valued at approximately AED 100 billion and operates more than 20 financial services companies in more than 13 countries, serving more than 11 million customers.
Sheikh Tahnoun bin Zayed Al Nahyan will serve as Chairman of Judan Financial, with Mohamed Hassan Al-Suwaidi serving as Vice Chairman, Managing Director and Chief Operating Officer, and will be tasked with expanding the platform and raising third-party capital over the next five years. ($1 = 3.6728 UAE Dirham)
(Reporting by Federico Maccioni; Writing by Tala Ramadan; Editing by Louise Heavens)
