In May, Goldman received a license to set up its regional headquarters in Riyadh
investment banking
Latest in investment banking
Abu Dhabi
FAB launches new platform for MENA-based asset managers
The platform is to introduce new levels of sophistication for securities services in the region
Asset Management
Shuaa Capital COO Bechara Raad resigns
The asset management and investment banking platform, which is listed on the DFM, announced the COO’s departure in a disclosure on Tuesday
enterprise
SoftBank in talks with Indian startups for next stage of growth and investment
The Tokyo-based investment bank is looking to invest in business-to-consumer (B2C) enterprises and media sectors
Abu Dhabi
Shuaa launches three new Sharia-compliant funds, bringing assets under management to $200mn
The three new funds will expand choices available to institutional high net worth individuals (HNWIs) and corporate investors
Abu Dhabi
Credit Suisse Investment Bank draws interest from Abu Dhabi, Saudi Arabia
Credit Suisse had already seen major investors in Qatar Investment Authority and Saudi Arabia’s Olayan Group
Asset Management
Credit Suisse to expand operations in Qatar with launch of new tech hub
The hub, will be in partnership with Investment Promotion Agency (IPA) in Qatar, and is said to open 100 jobs in the next few years, across its wealth management, investment banking and asset management divisions
Asset Management
US investment advisor Lord Abbett sets up first Middle East base in Dubai’s DIFC
Lord Abbett joins more than 250 companies at the region’s wealth and asset management hub in DIFC
Asset Management
SHUAA Capital posts strong performance in Q1 2022 despite global uncertainties and market volatility
Excluding the effects of the intangible asset write-down, the firm’s net profit on a like-for-like basis would have increased to $10.07 million in the first three months of 2022
banking business
Sharjah Islamic Bank reveals 13.9 percent increase in net profits to $50.9 million in Q1 2022
Revenues were driven by the UAE’s economic rebound, the bank’s focused customer-centric approach, and multiple new high profit-oriented products, the bank said
Asset Management
SHUAA Capital reports strong growth in core revenues driven by gains within managed funds
In 2021, SHUAA made key hires across the business, notably within real estate and client coverage, with core headcount increasing by 33 percent.
acquisitions
SHUAA Capital acquires majority stake in fintech firm Souqalmal to empower customers to understand, manage, and grow their finances
The investment will support Souqalmal’s ambitious growth plan and the expansion of its services, as the firm looks to develop a personal financial management platform that will include financial education and awareness
bond issuance
Emirates NBD Capital marks record number of landmark transactions in terms of deal volume in 2021
Emirates NBD Capital’s DCM team successfully priced 76 public and private debt issuances in 2021, raising more than $50 billion across regional and international markets, thanks to mega-sized bond and sukuk issuances
acquisitions
UAE’s largest bank eyes majority stake in Egypt’s EFG Hermes
Egypt’s biggest investment bank says it received a non-binding offer from First Abu Dhabi Bank
investment banking
MENA investment banking fees rise as M&A activity soars in 2021
Refinitiv research shows investment banking fees totalled $1.4bn, the second-highest total on record
banking industry
Citigroup is hiring across Gulf, awaits another record IPO year
Lured by the region’s deep pools of capital, Wall Street banks from Citigroup to JPMorgan Chase & Co. and Goldman Sachs Group Inc. are seizing on the opportunity to capture market share, expanding teams on the ground in the hope of winning advisory roles
DIFC
US investment bank Jefferies makes another effort to crack Mideast market amid boom
Lured by the region’s deep pools of capital, the firm joined a wave of investment banks that set up in Dubai more than a decade ago