Brian Reilly spent nearly a decade navigating compliance frameworks across three continents before landing at the Dubai Financial Services Authority. Now he’s made a different bet: that Channel Islands-based Praxis can capture a growing slice of the Middle East’s increasingly complex regulatory advisory market.
Praxis announced Tuesday it had hired Reilly as Senior Regulatory Adviser, based in Dubai. The appointment marks the latest senior hire for the independent professional services firm as it expands its corporate and funds platform across the Gulf Cooperation Council.
Reilly brings 25 years of financial services experience spanning fund administration, investment management, banking and regulatory oversight. Before joining Praxis, he served as Regional Director for the Middle East at a global fund administration provider. His resume includes senior roles at the DFSA and nearly a decade with a leading global custodian, where he held compliance and risk positions across the UK, Channel Islands and Poland.
The move reflects mounting pressure on fund managers and institutional clients operating in the GCC. Regulatory expectations have intensified as authorities in Abu Dhabi and Dubai compete to attract international capital, creating demand for specialist governance and compliance support that goes beyond basic administration.
“There is a significant opportunity in the Middle East for high-quality outsourced governance, compliance and regulatory support, particularly as firms face increasing operational and regulatory expectations while seeking to scale efficiently across multiple jurisdictions,” Reilly said.
Praxis established its regional foothold in 2016 when it became the first trustee licensed by Abu Dhabi Global Market. Since then, the firm has maintained offices in both Abu Dhabi and Dubai, building what it describes as a decade-long track record serving institutional clients, fund managers and international businesses.
The appointment signals Praxis’s ambition to differentiate itself in a crowded market. Major global administrators and boutique specialists have flocked to the UAE in recent years, attracted by the region’s growing wealth management and alternative investment sectors. But regulatory complexity has created openings for firms offering bespoke compliance solutions rather than standardised services.
Reilly will work alongside Chris Gibbons, Group Head of Corporate & Funds, to expand the firm’s outsourced regulatory and governance offering. His brief includes supporting clients with onshore and offshore corporate and fund administration solutions tailored to specific jurisdictional requirements.
“Praxis has built a strong reputation in the region over the past decade, with a clear focus on client service, long-term relationships and independent thinking,” Reilly noted. “I’m delighted to be joining a business with that track record and to help clients navigate an increasingly complex regulatory environment.”
His credentials extend beyond operational roles. Reilly serves as an independent non-executive director with board experience across firms regulated by both the UK’s Financial Conduct Authority and the DFSA. He holds advanced qualifications in banking and finance law, compliance and international sanctions—expertise particularly relevant as geopolitical tensions add layers of complexity to cross-border financial operations.
Robert Fearis, Group CEO of Praxis, characterised the hire as a strategic play. “Brian is exceptionally well known across the region and brings deep technical expertise, commercial insight and extensive regulatory experience,” Fearis said.
The CEO pointed to shifting patterns among fund and investment managers. “As demand continues to grow from fund and investment managers launching in or migrating to the Middle East, his appointment significantly strengthens the specialist support we can provide to clients,” he added.
For Praxis, which employs roughly 400 staff globally and remains headquartered in the Channel Islands, the Middle East represents a key growth corridor. The firm has made a series of senior appointments in the region, though it declined to specify how many or in which timeframe.
The competitive dynamics favour firms that can navigate multiple regulatory regimes. Fund managers increasingly operate across ADGM, the Dubai International Financial Centre, and onshore UAE jurisdictions, each with distinct requirements. Add offshore structures in traditional centres like the Channel Islands or Cayman Islands, and the compliance burden multiplies.
That complexity creates friction—and opportunity. Firms capable of providing integrated governance across jurisdictions can command premium fees, particularly when servicing alternative investment funds or family offices with cross-border structures.
Reilly’s background suggests Praxis intends to target exactly that segment. His experience spans both regulatory supervision and commercial fund operations, a combination relatively rare in the advisory market.
“Brian also brings unmatched market knowledge and the strategic perspective to help us further develop our outsourced regulatory and compliance proposition across the GCC over the coming years,” Fearis said.
The appointment arrives as regional authorities continue tightening oversight. Both ADGM and the DFSA have rolled out enhanced requirements for fund managers in recent years, covering areas from governance structures to operational resilience. Firms launching or expanding in the region face lengthier authorisation processes and more rigorous ongoing supervision than a decade ago.
For managers accustomed to lighter-touch regimes, that adjustment can prove challenging. Hence the demand for advisers who understand both the technical requirements and the practical realities of dealing with multiple regulators.
Whether Praxis can convert that demand into sustained growth remains to be seen. The firm faces competition from established global administrators with deeper resources, as well as specialist boutiques with strong local networks. Its pitch appears to rest on combining technical expertise with the flexibility of an independent operator—not beholden to banking parents or private equity owners.
Reilly’s hire suggests the firm believes that positioning can resonate. His decision to join Praxis rather than a larger platform indicates he shares that view, or sees potential in the firm’s client relationships and regional strategy.
The broader question is how quickly regulatory complexity translates into revenue. Fund managers may recognise the compliance burden, but many remain reluctant to outsource core governance functions, preferring to build internal capabilities despite the cost.
Praxis is betting those calculations shift as the regulatory environment matures. By then, having secured senior talent with Reilly’s credentials could prove decisive in capturing clients willing to pay for outsourced expertise rather than building it themselves.
