What does it mean to offer an international platform for wealth planning and management with personal service and one point of contact? Our recent expansion to Abu Dhabi provides a perfect opportunity to answer that question. Michael Künzi, who heads up the new location, shares the story – and why it benefits both our clients and relationship managers.

Marcuard Heritage recently received its 3C Asset Manager license from the Financial Services Regulatory Authority of the Abu Dhabi Global Market (ADGM), a relatively young yet thriving financial center. Our new office in Abu Dhabi is part of a deliberate, long-term strategy. With access to ADGM’s innovative financial ecosystem, we can offer a broader range of solutions for wealth planning and management.

No one is more excited about the opportunities in this rapidly evolving financial hub than Michael Künzi, who has driven the project from day one. But like most new ventures, the journey wasn’t without challenges. Here, Michael shares how we arrived at this point, his role, and what our presence in the region means for both clients and relationship managers.

A seasoned starter steps into new territory

It’s safe to say that Michael Künzi has seen it all. After almost three decades in the financial industry, his biography is as diverse as the geography of his job locations. From managing all kinds of projects at the world’s largest private bank to building wealth management offices from the ground up, Michael has lived and worked in Switzerland, the UK, Russia, and now Abu Dhabi.

When asked what prepared him most for his current role, his answer is simply: “All of it.”

“I’m not a natural-born project manager, but I have real-life experience,” says Michael. “I’ve been in private banking since 1998 – and working around the world has exposed me to a number of regulatory environments and cultures. Through it all, I’ve gained a broad perspective.”

Experience and perspective become invaluable assets when sailing into uncharted waters. You have a good sense of what’s coming and are prepared for the unexpected: the new requirements, bureaucratic hurdles, and inevitable complexities. It also helps if you love languages and learning about new cultures.

“I’m a linguist at heart. I’m learning Arabic, and I really like it,” says Michael. “This new challenge, integrating into a new culture – learning the language and as much as I can about local customs and history. It’s something that really excites me.

“This, along with my experience, helps a lot,” he adds. “I’ve started from scratch a few times, which probably makes things easier for me.”

Michael has also served as a relationship manager (RM) for clients for years. This blend of hands-on operational experience in multiple environments and personal service across cultures made him the perfect choice to lead us into a region where many financial companies are still finding their footing.

 “The geopolitical landscape is shifting at a speed it hasn’t for decades.”

Why Abu Dhabi, why now?

Our move into Abu Dhabi reflects both our global view and pragmatic response to a new reality.

“The geopolitical landscape is shifting at a speed it hasn’t for decades,” Michael explains. “What we used to call emerging markets can no longer be treated as developing countries. A range of countries are building cutting-edge financial centers. I’d say the United Arab Emirates (UAE) is right at the forefront of this new wave.”

The ADGM is a rapidly growing and strategically positioned international financial center. It’s a dynamic hub for global finance, known for its innovative legal framework, robust regulations, and focus on key growth areas like FinTech, sustainable finance, and private banking. The ADGM has earned international recognition for its forward-looking approach and commitment to attracting leading financial institutions. It’s become a key player in the UAE’s economic diversification.

Michael points to Marcuard Heritage’s earlier expansion to Singapore as part of the same strategic logic: identify where wealth is moving and build a presence there, without trying to be everywhere.

“We make moves when we are ready and the case is clear,” says Michael. “This has now happened. But our goal isn’t to grow into a huge firm. We’ve had the UAE on our radar for some time now and determined that it is a place we want to be in terms of infrastructure, growth potential, and favorable geographic positioning.”

“I think you’d be hard-pressed to find a firm of our size with the same range of services and expertise.”

Enhancing our unique value proposition

At Marcuard Heritage, we operate a network of licensed offices across key financial centers. This allows clients to diversify their assets internationally while continuing to work with their trusted RM, who coordinates services with our local teams in each jurisdiction. Our new office in Abu Dhabi allows us to expand our offerings further, meeting the evolving needs of our clients.

“We’re a relatively small company – a team of around 70 people,” says Michael. “But we have an extensive network, with four fully licensed wealth management offices in Zurich, Cyprus, Singapore, and now Abu Dhabi – not to mention our licensed trust company in Singapore (Marcuard Heritage Trust) and FINMA licensed manager of collective assets (Alpinum Investment Management) in Switzerland. I think you’d be hard-pressed to find a firm of our size with the same range of services and expertise.

“It’s an international platform,” he adds. “That may sound a bit pretentious for a small firm like ours, but it’s true.”

What’s in it for clients and RMs?

Why does this matter to both clients and relationship managers? The answer is threefold: access, diversity, and proximity.

“It sounds like a cliché, but we really are globally local,” Michael explains. “It’s important to understand this part. When you work with our office in Abu Dhabi, you gain access to our international platform – meaning our team can coordinate with specialists and licensed entities in Zurich, Singapore, or Cyprus to ensure your needs are met in line with local regulations.”

That is key, he says. While Marcuard Heritage operates as a boutique independent firm, our multi-jurisdictional presence means clients have one point of contact who coordinates their needs across our network. Each of our offices operates under the local regulatory framework, with our RMs collaborating closely to ensure that clients receive services and advice appropriate to each jurisdiction.

“This has great value for individuals and families who want to work with one company and have one point of contact,” says Michael. “Clients who want to diversify their assets globally but maintain the personal relationship they have with their RM can do so with us. They can capitalize on our multiple-jurisdictional presence.”

Proximity also plays a role. Our approach is personal, which means we want to be close to our clients.

“Personal contact is important to us,” says Michael. “That’s also part of what’s happening here. Many of our clients are relocating or looking to relocate here, so it’s essential for us to be present here, too.”

For RMs, this model is equally appealing – and it’s unusually flexible and supportive for a firm of our size. RMs retain full ownership of their client relationships, regardless of where the client’s assets are invested.

“Our RMs can work with any of our licensed offices with no conflicts of interest,” says Michael. “This means they can offer a broader range of options and always do what’s best for their clients. We honor the relationship and don’t redistribute client ownership based on some geographic principle, as is done at big banks. This is truly a unique value proposition.”

“We don’t redistribute client ownership based on some geographic principle, as is done at big banks. This is truly a unique value proposition.”

From a one-man startup to a new firm feeling

The Abu Dhabi office received its asset management license in November 2024 and has since been regulated by the ADGM’s Financial Services Regulatory Authority. Michael managed the setup and licensing process solo in the early months. It was a real startup experience, he reflects, in a financial center that is itself relatively new.

“I worked with partners to manage compliance, but otherwise it was just me in the beginning, at least here in Abu Dhabi,” he says. “But I had a lot of support – it was a dedicated team effort together with colleagues across Marcuard Heritage’s locations and external partners. Earlier this year, I hired two new colleagues – a business manager and a senior relationship manager – and they have made a real difference, too.

“The first audit was, as always, a challenge because it’s new territory,” he adds. “It is, of course, very difficult to start a licensed company from scratch in a new region with a new regulatory environment. That’s just a fact. It’s also fair to say that the whole ADGM is still relatively new, so there’s a learning process. Things are developing – it’s still very dynamic.”

Despite the challenges, Michael credits their success to Marcuard Heritage’s past experiences opening offices in Cyprus and Singapore. He also praises the ADGM’s rapid development, noting that although some infrastructure is still evolving, the overall progress has been impressive.

“Our experience in various locations, environments, and regulatory frameworks has definitely made a difference – and my own personal experience has kept me sane,” he says with a smile. “The UAE has built something from nothing in record time – it’s really fantastic. This free zone was only established seven years ago. Now it is one of the most important financial centers. This is truly amazing. The pessimists point out what could be better. I see how far the region has come.”

With two new team members on board and the first audit behind him, Michael and his team have turned their attention to building the business.

“Now that things are coming together, it feels different. We’re no longer a startup – we’re a real Marcuard Heritage office, collaborating with RMs across our group who have clients interested in the region. It’s early validation of our strategy here.”

A new region requires a new team

Michael says his top priority is to expand the capabilities of the Abu Dhabi office – that means new hires who bring local knowledge and add real value to what Marcuard Heritage can offer.

“We’re actively building the team,” he says. “The next step is hiring people who not only know the market, but also bring the regional insight and trust needed to service clients locally.”

It’s not just about headcount. Market-specific knowledge, cultural fluency, and regulatory insight are the attributes he’s looking for in new RMs.

“We need to develop the local expertise – and new RMs will help us do that,” says Michael. “We’re looking for experts who understand the region’s market, its customs, and its regulatory requirements.”

An exciting adventure with so much potential

He may be getting down to business now, but Michael still beams with entrepreneurial enthusiasm as he talks about next steps and the future.

“I honestly love the challenge of something new,” he says. “Working with so many smart people to create something from scratch, building a business that was only an idea before – that’s something really special. I’m focused on making it work and being successful, meeting new people, and learning about the culture here.”

How will he measure success?

“I’d say we’ve already achieved a certain degree of success – the client interest is there, so the move is already bearing fruit,” says Michael. “What I’d like to see is our reputation grow within the local community, even though we’re a small firm. That would be fantastic. Ultimately, we want the name Marcuard Heritage to be associated with trust and quality here in the Middle East, just as it is in other regions. If we can do that, it will be something to be really proud of.”

Our international platform matters – now more than ever

Michael’s message is clear: The ADGM is the place to be – a rising star in the financial world with enormous potential. Being here is a natural next step designed to meet evolving needs as global wealth shifts toward the region.

Now part of our network, our new office in Abu Dhabi benefits both clients and relationship managers. Clients gain access to the ADGM’s dynamic marketplace alongside other financial centers around the world while retaining their single, trusted point of contact. RMs can leverage Marcuard Heritage’s entire international platform while maintaining ownership of their client relationships.

“What makes our model distinctive is the ability for clients to maintain their primary relationship manager while diversifying their assets internationally – all coordinated in compliance with local regulations.”

As the industry evolves, an international presence is more important than ever. With our unique combination of global reach, local expertise, and personal relationships, Marcuard Heritage is well-positioned to support clients and relationship managers in the Middle East – and beyond – today and for the long term.

For clients and RMs alike, our network means more possibilities. Want to learn more? Let’s start the conversation. Contact us today!

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