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Olivier Honsberger

Profile picture of Olivier Honsberger

Olivier Honsberger

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Name

Olivier Honsberger

Your Country

United Arab Emirates

Company

Global Millennial Capital

Position

Member of the Advisory Board of Global Millennial Capital

Gender

Male

Core Industries

Banking, Family Office, Private Equity, Wealth Management

Experience

Mr. Honsberger is the former Chief Executive Officer and Senior Executive Officer of Mirabaud (Middle East) Ltd which holds a prudential Category 1 License with the DFSA with 3.5 billion USD of Assets Under Management (“AUM”). He was also acting as a member of the Board of Directors of Mirabaud (Abu Dhabi) Limited.
12 years of experience in the Middle East, developing a strong AUM growth,
together with strong relationship with the regulators of the DIFC and ADGM.
Strong leadership skills, strategic thinking and vision.

Board positions:

Member of the Advisory Board at Global Millennial Capital

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NEDs and Economic Substance (“ESR”)

Pursuant to ESR, certain companies deploying a “relevant activity” have to demonstrate that they have effective substance in their jurisdiction by satisfying a so-called “economic substance test”. ESR is in force in the UAE since 30th April 2019.

A company meets the test if it is directed and managed in the UAE and has adequate people, premises and expenditure in the country.

In this context, the composition and competence of the board of directors – composed of both executive director(s) and NED/s –, and the proper recording of minutes of all board meetings are key factors when assessing whether a company is compliant or not.

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