Wealth management is often seen as a numbers game — returns, risk mitigation, asset allocation. But ask any experienced advisor, and they’ll tell you the real driver of success is something far less tangible: corporate culture.

In boutique firms, where relationships and trust define success, culture is not just an internal philosophy — it’s the foundation that shapes client relationships, business decisions, and long-term sustainability.

Unlike large institutions that rely on standardised processes and mass-market strategies, boutique firms thrive by offering highly personalised financial solutions. Their success hinges on a culture that prioritises collaboration, adaptability, and deep client relationships in order to allow them to tailor strategies that align with each client’s unique goals and values.

I have seen firsthand at Klay over the last decade how prioritising culture as the foundation of our operations shapes every interaction and decision. So, instead of rigid hierarchies, firms should encourage inclusivity and strategic thinking to ensure every team member has a voice.

When firms operate like that, like a high-performing team — where adaptability and collaboration drive results — they can place long-term client goals as the core of their decision making.

When corporate culture is key

Corporate culture is particularly vital when managing multi-family offices for example. Beyond financial expertise, you wouldn’t imagine that firms need to navigate complex family dynamics, succession planning, and governance structures.

A boutique firm’s culture determines whether they can build the trust and discretion required to handle these unique challenges, and the firms that prioritize long-term relationships over transactional gains are the ones who create enduring partnerships that can span generations.

But strong cultures don’t just happen; they are built deliberately. Leadership must be the one to set the tone by embedding corporate values such as transparency, accountability, and a client-first mindset into daily operations. It can be challenging, but pushing for open communication and structured mentorship will guarantee stronger teams, and cross-functional collaboration is going to create an environment where employees can thrive on a personal and professional level.

Cultural alignment starts with recruitment

So where does one start you might ask? I believe cultural alignment starts with recruitment. Many boutique firms invest in hiring individuals who not only bring technical expertise but also align with the firm’s values. It is during recruitment that the need to share core values like collaboration, adaptability, and integrity must be stated. A firm’s ability to maintain a strong culture depends on continuous reinforcement of these values in both leadership and day-to-day operations, so leadership must repeat again and again – it is not a campaign that can be implemented once and then never mentioned again.

Boutique firms must look at corporate culture as something that extends beyond a mission statement and more of a driving force that informs decisions, strengthens client relationships, and shapes long-term strategic direction.

On the flip side, a toxic culture can have devastating effects, leading to high employee turnover, misaligned client relationships, and a breakdown in trust. This in turn leads to instability and long-term reputational damage, making it harder to attract both talent and clients. Firms that foster a resilient and trust-driven culture won’t just attract top-tier talent—they will redefine industry standards and set themselves apart in an increasingly competitive market. They will be the firms that not only retain clients, but will be able to build legacies, earning the kind of loyalty that spans generations and solidifies their place as industry leaders.

A mentor of mine once told me something that stuck with me: “Culture isn’t what you say in meetings; it’s what people do when no one is watching.”

That nugget of advice has shaped my perspective on leadership and my journey as an entrepreneur when the business was being built. It’s easy to put values on a website or talk about culture in an offsite, but the real test is in the everyday actions—the tough decisions, the quiet moments, the way people treat each other under pressure. A strong culture isn’t about grand statements; it’s about the small, consistent behaviors that define who you are as a firm, even when no one is looking.

The writer is the chairman of Klay Group.

Read: Corporate culture in the modern age

Dubai has issued a new law aimed at strengthening public health, disease prevention, and environmental safety across the emirate, according to a decree by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Law No (5) of 2025 establishes a comprehensive framework to safeguard the community by enhancing health standards, improving food and product safety, and promoting sustainable practices to boost quality of life.

The legislation also aims to position the UAE as a global leader in public health competitiveness.

The law mandates a range of precautionary and evidence-based practices in line with local and international health regulations.

It promotes coordinated efforts to prepare for and respond to public health challenges across government bodies and healthcare providers.

New health law covers these Dubai authorities and agencies

Authorities covered under the law include the Dubai Health Authority, Dubai Municipality, Dubai Environment and Climate Change Authority, Dubai Academic Health Corporation, and the Dubai Corporation for Ambulance Services.

It defines the responsibilities of healthcare providers — both public and private — licensed by the Dubai Health Authority, and outlines the duties of individuals in preventing the spread of communicable diseases.

Infected or suspected individuals are required to avoid contact with others and seek approval from the Dubai Health Authority before travelling or moving, except when visiting healthcare facilities.

The law prohibits the concealment or intentional spread of infections and mandates compliance with health measures set by relevant authorities.

Travellers must adhere to official protocols, provide required information at Dubai entry points, and follow hygiene guidelines such as mask-wearing and physical distancing.

Food safety covered under the public health law

Further, the law details public health responsibilities in areas such as food safety, consumer product regulation, environmental health, labour accommodation standards, tobacco control, and pest control. It underscores the Dubai Health Authority’s role in managing health risks and emergencies.

Public and private sector entities are required to cooperate fully with authorities and share data relevant to public health under the law.

The new legislation overrides any previous laws that conflict with its provisions and will come into effect 90 days after its publication in the Official Gazette.

Read: Abu Dhabi: Sheikh Khaled approves launch of HELM cluster

ADNOC Distribution and digital platform noon have entered a strategic partnership aimed at enhancing last-mile delivery services and redefining quick-commerce in the UAE, the companies announced on Tuesday.

The partnership will see the establishment of new noon Minutes fulfilment hubs within ADNOC service stations across the UAE—home to the country’s largest network of retail locations. The collaboration aims to bring ADNOC Oasis convenience store products to customers via noon’s advanced, AI-powered logistics network, with deliveries promised in as little as 15 minutes.

“This partnership marks a new chapter in ADNOC Distribution’s transformation,” said Engineer Bader Saeed Al Lamki, CEO of ADNOC Distribution. “By combining our nationwide retail network with noon’s advanced digital and logistics capabilities, we are accelerating our journey to turn service stations into smart convenience hubs — powered by technology and focused on delivering real value.”

ADNOC Oasis products now available for doorstep delivery

The initiative will integrate ADNOC’s retail infrastructure with noon’s AI-driven systems that offer dynamic inventory management, personalised recommendations, and real-time delivery route optimisation.

ADNOC Oasis products will now be available for doorstep delivery through the ADNOC Distribution mobile app, fulfilled by noon riders.

“This collaboration is a major step forward in how we redefine convenience for customers in the UAE,” said noon CEO Faraz Khalid. “With ADNOC Distribution as a key strategic partner, noon is stronger and even better positioned to serve our customers.”

The move also supports ADNOC Distribution’s strategy to expand its non-fuel retail footprint, deepen digital integration, and adopt emerging technologies such as AI to streamline operations and improve customer experience.

noon minutes focused on ultra fast delivery

noon Minutes, the express delivery arm of noon, already operates ultra-fast fulfilment across the UAE and Saudi Arabia, delivering groceries, electronics, and essentials in under 15 minutes.

With 551 service stations and 373 Oasis convenience stores across all seven emirates, ADNOC Distribution operates the most extensive retail mobility network in the country.

The company also provides services such as EV charging, car washes, and lube changes.

The partnership is expected to create new revenue streams and offer customers faster, more seamless access to retail products.

Global banking and financial markets are showing signs of stability with low volatility as central banks begin easing interest rates after taming inflation, the International Monetary Fund said on Monday.

However, the IMF warned of rising financial stability risks stemming from economic policy uncertainty and tightening global financial conditions.

“Our assessment is that the global financial stability risk has increased significantly due to heightened economic policy uncertainty and rising market volatility,” said Tobias Adrian, financial counselor at the IMF. “The decline in investor confidence that we have seen has triggered recent sell-offs in equity markets. The tightening of global financial conditions is putting downside pressure on economic activity.”

The IMF’s remarks were part of the release of its Global Financial Stability Report, issued during the Spring Meetings of the IMF and World Bank in Washington.

Asset valuations and leverage pose vulnerabilities

Adrian flagged three forward-looking vulnerabilities that could affect markets. “Despite recent market turmoil, some asset valuations remain elevated. If the economic outlook continues to deteriorate, these valuations could decline further, leading to tighter global financial conditions. Such tightening may adversely impact currencies, asset prices and capital flows to emerging markets,” he said.

Financial conditions have shifted from being accommodative to neutral, with a risk of further tightening, Adrian said. “In conditions of prolonged volatility, financial institutions with high leverage may experience significant stress.

“Non-bank financial institutions could struggle during market turbulence, potentially impacting the broader financial system. In weaker and poorly managed banks, vulnerabilities could reemerge.”

Sovereign debt risks and emerging markets in focus

The IMF also pointed to the risk of further turbulence in sovereign bond markets, especially in economies burdened by high levels of government debt.

“If market functioning were to become strained in major advanced economies, and with the unwinding of leveraged trades in key sovereign bond markets, volatility could be further exacerbated,” Adrian warned. “Emerging market economies already facing the highest real financing costs in the decade may need to refinance their debt and finance fiscal expenditures at increased costs.”

Investor concerns over public debt sustainability and financial sector vulnerabilities may intensify as a result, he added.

IMF calls for policy action to safeguard financial stability

To ensure continued financial resilience, Adrian urged policymakers to prepare for potential disruptions.

“It is crucial that we prepare for potential challenges ahead, equipping authorities to manage financial instability effectively,” he said. “The policy toolkit should encompass measures that ensure market functioning, support prudential supervision and regulation of financial institutions, and provide emergency liquidity and crisis resolution tools.”

He added that financial institutions and regulators should focus on risk identification and mitigation through stress testing and scenario analysis.

Emerging market and developing economies, in particular, should strengthen their financial markets while maintaining adequate fiscal space and international reserves to cushion against external shocks.

Read: IMF’s Kristalina Georgieva urges nations to rebalance for resilience

The UAE ranks among the top emerging global economies in artificial intelligence (AI) readiness, according to a new report from Boston Consulting Group (BCG), presented during the Dubai AI Assembly at Dubai AI Week.

The study, titled GCC AI Pulse: Mapping the Region’s Readiness for an AI-Driven Future, is based on BCG’s 2024 AI Maturity Matrix, which categorises countries into four archetypes: AI Emergents, Practitioners, Contenders, and Pioneers.

The UAE has been placed in the “AI Contender” category, alongside 31 other economies, including Saudi Arabia.

Other Gulf nations — Qatar, Kuwait, Oman and Bahrain — are classified as AI Practitioners.

While no GCC country has yet reached the “AI Pioneer” category, which includes the US, UK and China, the report highlights the region’s potential for advancement.

“The UAE is poised to be a regional leader among global AI Pioneers by capitalising on its established digital infrastructure and formulating strategic initiatives that support AI integration into its economic visions,” said Dr Akram Awad, MD and partner at BCG.

Strategic vision, infrastructure drive UAE’s AI push

The UAE has emerged as a first mover in AI governance, having launched a National AI Strategy in 2017 and appointing the world’s first Minister of AI.

According to BCG, the country is already mirroring benchmarks set by leading AI nations through robust policy and infrastructure.

The UAE currently hosts 35 data centres and has the highest public cloud expenditure per employee in the GCC at $228.

It also boasts nearly 7,000 AI specialists and around 700 AI-related academic publications.

However, BCG says expanding the domestic talent pool and fostering globally recognised innovation remains critical to achieving AI Pioneer status.

Investment momentum and global ambitions

The report also points to elevated private-sector investment in the UAE, which already exceeds the average within its AI Contender peer group. It highlights the $100bn MGX fund as a reflection of the country’s global AI ambitions.

“Advancing private sector engagement and investment, improving R&D outcomes to global innovation levels, and expanding the homegrown AI talent pool will further solidify the UAE’s position as a global AI leader,” said Rami Mourtada, partner and director at BCG.

GCC region accelerates toward AI maturity

Saudi Arabia, another AI Contender, has made strides through regulatory leadership and the work of the Saudi Data and AI Authority (SDAIA), with a target to become one of the top 15 AI nations by 2030.

Qatar, Oman, Bahrain and Kuwait are also progressing through national strategies, modern infrastructure investments and upskilling initiatives.

“The UAE stands out as a beacon of advanced leadership and execution in AI—but what makes this moment remarkable is the broader wave of transformation across the GCC,” said Dr Lars Littig, MD and partner at BCG.

Pathways to progress

BCG’s ASPIRE framework, central to the report, offers a strategic blueprint for governments to build and scale AI capabilities.

It stresses the need for realigning governance structures with evolving ethics frameworks, expanding research and academia-industry collaboration, and ensuring global competitiveness through international talent acquisition and policy alignment.

Read: The AI imperative: 5 steps to transforming public sector services