Bermuda-based Old Mutual (Bermuda) Ltd. ("OMB") has formed a joint venture with Abu Dhabi's First Gulf Bank (FGB) to offer investment plans designed to meet the financial needs of First Wealth clients, FGB's dedicated wealth management Services, who are seeking to invest in US dollar-denominated investments.

First Wealth was set up to target primarily the UAE's and the region's High Net Worth Individuals (HNWI) and mass affluent segments, the bank said. It provides a comprehensive range of investment products and services tailored to the financial planning needs of local and expatriate clientele.

OMB was formed in May 2000 in Bermuda, as a subsidiary of UK based Old Mutual Plc, a leading global financial services company.

OMB is active in life assurance, asset management, banking and property/casualty insurance.

Mark Kaplan, Global Head of Distribution at OMB said the Guld region presented significant opportunities for growth over the next few years.