Group Head of Pensions & Employer Solutions returns to UAE as Praxis’ Middle East focus gains traction
James Barber-Lomax, Group Head of Pensions & Employer Solutions for global private wealth and corporate services provider Praxis has relocated back to the UAE as the Group seeks to build on its current position in the provision of services to the employee benefit and end of service gratuity (EOSB) market in the region.
James first relocated from London to the UAE in 2016 to assist with the establishment of PraxisIFM Trust Limited in ADGM, which was the first regulated trust company in the international financial centre.
Praxis Group has 10 years of experience in the employer solutions market in the UAE and is the only firm regulated by the ADGM to provide EOSB to retail clients.
With an eye to the estimated nine million* expatriate workers in the UAE, Praxis has developed and recently launched a digital platform in a joint venture with the UAE’s National Health Insurance Company - Daman, a subsidiary of PureHealth - the largest integrated healthcare platform in the Middle East.
The Daman Gratuity and Employee Benefits (GEB) Trust delivers a sophisticated and tailored employee gratuity program that will enable companies in the region to manage their end of service (EOS) liability for expatriate employees along with optional personal savings plans for all employees.
James said: ‘Partnering with Daman on the launch of the Daman GEB Trust marks a significant development for Praxis, and it is a very exciting way for us to be ramping up our presence in the ADGM.
‘Having lived and worked in the UAE extensively over the past decade, I have seen the region develop into a thriving international finance centre that provides significant business and lifestyle benefits. It’s great to be back here on a permanent basis.’
Along with driving the development of the Group’s employer solutions services in the Middle East, James also leads the Group’s cross-border specialist pension and annuity solutions teams in Guernsey and Malta.
*Source: Global Media Insight