Axys Holding acquires innovative fund manager Stonearb Investments, regulated in Dubai's financial center

DIFC-Based Stonearb Investments Becomes Part Of Trailblazing Fintech Group Axys Holding As It Continues Its Growth Through Acquisition

Dubai, UAE, May 28, 2024 Axys is building a multijurisdictional group across traditional financial centers in the Middle East, Asia, Europe, and North America, envisioning a new nexus of stable, well-regulated environments modernized with the latest technologies, innovations, and thought leadership.

Founded in 2017 by former executives of Credit Suisse, Credit Agricole, and Societe Generale in Hong Kong, New York, Paris, and Dubai, Stonearb is established in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA) as an international fund manager and financial advisor.

Stonearb became the first DIFC-based entity to acquire mainland Dubai property registered with the Dubai Land Department in a first-of-its-kind structure. This pioneering move has brought significant attention to Stonearb. This deal is seen as a strategic opportunity for both Axys and Stonearb.

The current CEO of Stonearb, Edwin Lee, will remain in the same role and join the Axys group as CFO. Lee, a chartered accountant with 30 years’ experience as a senior executive and board member of both private and publicly-traded companies, will now lead Stonearb as a division of Axys.

Speaking of the transaction, Lee said: “Bringing Stonearb into the expanding Axys group adds a DIFC-regulated company with a veteran team, alongside the SCA-licensed Mondial and other international licensed entities within the group. This gives us a well-rounded financial platform to service clients, including the Emirates Group.”

Yuya Takemura, group CEO, commented: “We’re delighted to welcome Edwin and the Stonearb team into the Axys group, and we’re eager to introduce their clients to a broader spectrum of modern financial product, including our ground-breaking Axys Card and our newly launched X Potential series of funds.”

Axys and Stonearb will announce further details of the integration of the two businesses in the coming weeks and look forward to working with each other’s teams and clients.

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