Gibraltar-headquartered firm bolsters Middle East operation, as asset manager names UK chief executive Sovereign Group The firm has made changes to its operations in Dubai, Bahrain and Saudi Arabia. Nicholas Cully, who also sits on the group board of the Sovereign Group as sales director, will be stepping down as managing director of Sovereign’s Dubai office on the 1 December 2020 after five years in the role and over a decade in the Emirate. He will be relocating to Zug, Switzerland, in March 2021, where he will concentrate on developing business in central Europe and on managing the group’s global sales efforts in Europe, Africa, the Middle East and south east Asia.