Dubai, United Arab Emirates, 19 September 2023 – Eton Solutions, developer of the cloud-based AtlasFive® enterprise resource platform (ERP) for the family office of the future, announced today the opening of its new office in Dubai, United Arab Emirates (UAE), a significant step in the company’s ongoing global expansion. This strategic move is designed to better serve clients in the Middle East and underscores Eton Solutions’ commitment to providing unparalleled, localised service in this rapidly growing market.
Over the past decade, Eton Solutions has developed a highly sophisticated ERP platform, AtlasFive®, originally built by the company founder for his own family office to meet the challenges of creating process efficiencies and operational leverage by incorporating all the operating needs of a family office into one platform in a fully integrated manner. The platform is sold to larger global family offices, generally with USD1 billion of AUM and above. Eton Solutions now has over 650 families on the platform managing over USD737 billion.
Satyen Patel, Executive Chairman of Eton Solutions, said, “Our expansion into the UAE is a testament to our commitment to the Middle East region. This new office will allow us to better serve our existing clients and forge new partnerships in this dynamic market. The UAE office is equidistant between Asia and Europe and serves as a connection to key wealth centres. It will act as a hub to serve Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates (GCC), Indian sub-continent, Africa, Turkey and parts of Central Asia. We are excited about the opportunities this expansion presents.”
“I wish to express our appreciation to DIFC (Dubai International Finance Centre) for their instrumental role and unwavering support in ushering Eton Solutions into the UAE landscape,” he added.
As part of the firm’s new international thrust, Eton Solutions launched their brand new global Administrative Family Office (AFO)TM solution earlier this year. This solution, which packages the company’s AtlasFive® software with its world classes services offering, is designed to help open access to institutional levels of family office capability to ultra-high-net-worth families starting from $50 million in assets, helping them to launch their own virtual family office while achieving cost-effective reporting and a fully outsourced middle and back office.
The AFOTM enables clients to streamline their family office, to experience family office-level governance, get full control at their fingertips, achieve total visibility and risk management. As a guideline, the AFOTM module helps family offices cut some 30% to 40% of their operating costs. By way of perspective, a billion dollar plus office typically would cost anywhere between 150 to 200 basis points to run, as the bare minimum. AFOTM can help smaller offices run at a cost of 15bp or even less. As to speed of implementation, Eton Solutions can get AFOTM up and running within 30 days.
Bryan Henning, Senior Vice President of International at Eton Solutions, added, “The UAE is a strategic region for our global growth strategy going forward, our solutions cater for a broad range of needs for emerging and existing Family Offices. The launch of our Administrative Family Office (AFO)TM solution is a game-changer for the industry, enabling family offices to streamline their operations and achieve unprecedented levels of efficiency and control. We are dedicated to providing our clients with the best possible service, and this expansion will enable us to deliver our innovative solutions more effectively to clients in the Middle East.”
In line with this expansion, Eton Solutions is also pleased to announce the appointment of Chetan Chaudhari as Vice President of Sales for the Middle East & India. Based in the new UAE office in Dubai, Chetan will play a pivotal role in strengthening the company’s presence in the region and driving its growth strategy.
Eton Solutions’ commitment to innovation, client service, and global growth continues to drive its success. The company is excited about this new chapter in its history and looks forward to making a positive impact in the Middle East wealth management industry.
