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

UAE's FAB prepares overhaul, picks Citi veteran as new investment banking head, sources say

As part of the reorganisation, FAB is set to hire Citi dealmaking veteran Linos Lekkas as its new head of investment banking, the sources said

Bank of Bahrain and Kuwait partners with JP Morgan Chase

In addition, the system automates complex processes to facilitate faster and more secure cross-border transactions.

EFG Hermes successfully completes USD 2.84bln marketed offering of ADNOC Gas shares on behalf of ADNOC

The transaction, which involved the sale of approximately 3.1 billion shares representing a 4% stake in ADNOC Gas and valued at USD 2.84 billion, marks the first-ever marketed offering in the UAE and the largest placement on the ADX to date

Turkish export credit bank in 2024 financed $7.8 billion

These developments made FX deposits more attractive among other commercial loans for exporters

Al Ahly Pharos closes advisory on Capital Securitization’s $99mln securitization issue

This transaction was implemented in cooperation with NBE, Arab African International Bank, and Suez Canal Bank who acted as the transaction’s underwriters

EFG Hermes Closes EGP 1.78 Billion Securitization Deal for Bedaya Mortgage Finance

The issuance comes as their fifth since inception and the third in a wider EGP 10.0 billion program.

Citibank honours QIIB with ‘Excellence in Straight Through Processing Payments’ award

Citibank explained that the award was granted to QIIB in recognition of its outstanding performance

EFG Hermes concludes $13.51mln securitized bond issuance for valU

The bonds are backed by a receivables portfolio assigned to EFG for Securitization, the special purpose vehicle managing the issuance

HSBC leads as MENA’s top earner in investment banking fees

HSBC was followed by Standard Chartered ($56.5 million) and First Abu Dhabi Bank ($56 million) in the league tables

EFG Hermes introduces streamlined custody arrangement and asset servicing arrangement services across 40 markets

The service is designed to address the unique challenges faced by HNWIs, family offices, and small- to mid-sized funds in accessing custody arrangement services

EFG Holding continues to report solid performance in the second quarter of 2024

EFG Hermes, the Investment Bank, saw its Investment Banking division report all-time high revenues together with Brokerage revenues shooting up

EFG Hermes completes advisory on Budget Saudi’s $121mln acquisition of AutoWorld

EFG Hermes acted as the sole financial advisor on the transaction, which is set to create a new powerhouse in the Saudi auto industry

NIC recognized as the ‘Best Local Investment Bank in Kuwait - 2024’

Euromoney award confirms NIC’s distinguished services and continuous achievements

EFG Hermes completes advisory on $764mln IPO of Fakeeh Care Group on the Saudi Exchange

The IPO garnered widespread interest from local, regional, and international investors, with an oversubscription rate of 119

EFG Holding revenue surges 92% to EGP 8.6bn in Q1 2024, unveils share buyback program

EFG Hermes, the investment bank arm, played a key role in the strong Q1 results, with revenues more than doubling year-on-year to EGP 6.2bn.

Banque Misr announces strategic partnership and major investment in BELMAZAD

Egypt’s First Digital Public Auction Platform

EFG Hermes completes advisory on $428.7mln IPO of Parkin on the DFM

The IPO set a record for the most subscribed offering on the Dubai Financial Market, with an overall subscription of approximately 165 times

Morgan Stanley opens office in Abu Dhabi

ADGM office will be investment bank’s fourth in the region in addition to those in Dubai, Riyadh and Qatar

BankDhofar Investment Banking sustaining customer value with innovative financial strategies

The division's consistent success is underscored by its continuously expanding and diverse client base, encompassing startups to well-established corporations and inclusive of public and government sector organizations

Saudi EXIM and Banque Saudi Fransi collaborate to enhance SME export funding

This initiative is part of Saudi EXIM’s strategy to foster partnerships with the private sector