Q&A with Jamal Khatib, Senior Executive

Can you provide a brief explanation of Hoopoe Advisors services?

Hoopoe Advisors is a full-service wealth manager based in Boston with a branch in Doha. We are Licensed by the Qatar Financial Centre (QFC) and authorized by the QFC Regulatory Authority (QFCRA) as a Representative Office. We create comprehensive wealth strategies covering U.S. equities, fixed income, and alternative investments - U.S. real estate. We diversify our clients’ portfolios into various sectors, regions, and asset classes to protect them from the increased market volatility. We invest in strong, dividend-paying companies that have a proven track record in the stock market. We think as investors and owners, not as traders; thus, we prefer companies that have strong financials, low debt, and a resilient leadership that continues to increase the value of the company.

When did you begin operations in Qatar and how has your experience been setting up here?

We are very grateful for the opportunity of setting up in Qatar and we believe there is a lot of opportunity here. We began operations in November 2021. The Investment Promotion Agency Qatar (Invest Qatar) and Qatar Financial Centre (QFC) have been crucial in guiding us through the licensing and authorization process. Additionally, I studied International Economics at Georgetown University in Qatar Foundation (QF), and this allowed me to build a strong network of friends and supporters. Although Qatar is not an easy market to penetrate, we were able to build a strong reputation and trust with our clients in a very short period. Initially, Hoopoe in Qatar started as a one man show, but this did not prevent us from exceeding our targets. Today, the company is growing significantly. We hired a client relationship manager and three spring / summer analysts from Qatar Foundation universities. We plan to expand even more as there is a lot of hidden potential and unserved prospective clients.

What was the deciding factor/s that led to opening operations in Qatar?

Qatar’s connectivity, location, along with its stable leadership and regulations makes it very attractive to set up in. After visiting the region and servicing multiple clients living in Qatar, from the Boston Headquarters, we saw high potential. With a population of 55 million and a GDP of $3.5 trillion, the GCC positions itself as a strong market for our industry. There is a high level of liquidity among locals and expatriates and no standardized system of retirement accounts, especially for expats (401Ks, IRAs, etc.). Moreover, non-retirement investment options are limited - either local direct real estate, or local capital markets. There is not much exposure to U.S. and international markets and the few established global private banks tend to focus on the ultra-high net worth (UHNW). Therefore, we chose Qatar as there is a lot of room for Hoopoe to grow as we service the middle class and the HNW.

What have been the major milestones or achievements in Hoopoe Advisor’s Qatar operations since then?

Our major milestone has been building trust and reputation among locals and expatriates. Hoopoe is strong in the Qatar market and investors trust our stable growth strategies as we have been continuously delivering what we promise. Our local team is growing, and we just renewed our office contract in the Pearl for another year. Hoopoe’s leadership in Boston is very impressed with the results and plans to expand operations even further.

What is specific to Hoopoe Advisor’s work in Qatar and what makes working in Qatar different from other locations?

As an emerging U.S. wealth manager, our vision has always been building an ethical global financial institution that deploys the wealth of diverse communities to benefit real economies and to fuel meaningful values in the world. We are helping our clients in Qatar diversify their investments and protect them from any major risks that might affect their lifestyles in the future. As we grow and understand the local markets, the goal is to also diversify our U.S. clients by allocating a portion of their investments into strong Qatari companies and real estate projects.

Final question, you have been in Doha less than a year now, what would be your advice or recommendation to other business professionals considering a move to Qatar?

Do not hesitate. Register with the right entity, start operations, and expand your professional and social network in the country. Be transparent, build trust, and maintain your reputation. Qatar has a lot of potential, and we at Hoopoe fully believe in that.