New office to serve as regional hub, with plans to double broker team within a year
SPF Private Clients has opened a new office in Dubai as part of its ongoing expansion strategy, appointing a London-based director to lead the team.
The financial services intermediary, which specialises in mortgage and protection advice, aims to use the Dubai office as a hub for growth across the United Arab Emirates (UAE) and the wider Gulf region.
Marcus Hodges, who has been with SPF’s London office for 20 years, has been named managing director of SPF UAE. He will be joined by Connor Humble, who will serve as head of mortgages, and Scott McHugh, who will take on the role of sales director.
The office currently employs eight brokers, with plans to double that number over the next year, primarily through local recruitment efforts.
SPF became part of Howden Group in 2022, and the company plans to leverage Howden’s established presence in Dubai to further its growth in the region.
Mark Harris, chief executive of SPF, said the move into Dubai was a natural step for the business.
“Our team will offer the best-in-class mortgage advice and protection advice we are known for to those buying in the UAE, mainly in Dubai but also in Ras Al-Khaimah and Abu Dhabi,” Harris said. “We are pleased that Marcus has agreed to head up the team and move to Dubai with his young family, bringing his many years of experience in the mortgage market to the UAE.”
Hodges, meanwhile, highlighted the opportunities in Dubai’s growing real estate market.
“The continued growth in the real estate sector in Dubai presents many opportunities,” he said. “The city is a popular destination, with people from all over the world choosing to move here to live and work.”
He noted that while the majority of clients are UAE residents purchasing homes or investment properties, there is rising demand from non-residents seeking to enter the Dubai property market.
SPF also expects to grow its business assisting Gulf-based clients with UK property investments. Hodges sees further opportunities for UK banks to lend in Dubai, given the significant number of affluent British clients in the region.
“There is a compelling argument for UK banks to lend in Dubai,” he said. “There is a big opportunity here as many clients are British and relatively affluent, providing them with a level of comfort.”
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