Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

MENA M&A transactions reach $70.3 bn in 2020

Refinitiv released the Middle East and North Africa investment banking analysis for 2020.

HSBC launches Sustainable and Transition Finance team in Middle East

With a presence in all of HSBC’s markets across MENAT, the Team will work with all of HSBC’s bankers to provide advice, expertise and financing solutions to customers across all sectors and segments – no matter what stage of the sustaina

EBRD provides US$ 58 million loan to Turk Ekonomi Bankasi

The new loans follows €1.7 billion of investment provided by the EBRD for the Turkish economy in 2020

Saudi Arabia generates $382.9m in investment banking fees

Total fees across region fall 12% to $1.2bn amid pandemic slowdown

First Lebanese banking merger since 2019 agreed as capital pressures rise

Bank Audi says it is merging the local business operations of Audi Private Bank and Audi Investment Bank into its business

Japan's largest brokerage said to close more offices in the Gulf

After announcing Saudi exit, Nomura Holdings is reportedly set to close offices in Bahrain and Qatar

Credit Suisse opens branch in Riyadh in Saudi push

Credit Suisse has had a presence in the Middle East since 1967 and has been operating in Saudi Arabia since 2005

Bank Audi absorbs private and investment subsidiaries

Merger eliminates duplication and reduces operating expenses

Virgin Mobile signs up with Saudi bank to launch mobile-based financial services

Ties up with Saudi Investment Bank to expand access to customer base in key market

Sico wins top Global Investor Group Mena awards

The bank’s Khaleej Equity Fund witnessed an increase of 2.5% versus a 3.8% decrease in its benchmark while the Sico Kingdom Equity Fund saw an increase of 2.6% versus a decrease of 0.6% in its benchmark.

Sico to acquire majority stake in Muscat Capital

This would result in Bank Muscat owning 9% shareholding in Sico, amounting to a total of 38,563,894shares, upon completion of the transaction.

NatWest Markets and Santander sell shares in Saudi British Bank

Citigroup Saudi Arabia and Goldman Sachs Saudi Arabia acted as joint bookrunners and joint brokers on the transaction.

BNY Mellon Wins Global Custodian of the Year at the Global Investor MENA Awards

This recognition underscores the breadth and depth of our asset servicing solutions and capabilities in the region, and our ability to support clients’ evolving needs.

Jordan inks USD314.63m credit with European Investment Bank

The report stated "The implementation of these projects will improve the resilience of the water supply sector and support adaptation to climate change, as well as creating jobs during both the construction phase and the operation of the facilities&a

Investment banks stick with Gulf despite falling fees

Drop in receipts belies opportunities, bankers say

Ralph Hamers' First Task: Expansion to Qatar

The country is one of the world’s largest producers of liquid gas, which made Qatar extremely wealthy.

UAE's largest bank sees profits dip amid 'unprecedented' market conditions

First Abu Dhabi Bank CEO says lender has delivered 'resilient' performance so far in 2020

Qatar's economic fundamentals show country 'primed' for future growth: HSBC regional chief

The monetary policy response to Covid-19 meanwhile has provided broad support to both the private and public sectors.

Standard Chartered Bank fires its employees in the Emirates

The job cuts will be in the bank’s retail and global banking division, Bloomberg cited two sources familiar with the matter.

BNY Mellon Expands in Saudi Arabia, Partners With NCB Capital

Through this partnership, the bank is seeking institutional investors in Saudi Arabia for its “global custody and associated asset-servicing activities.