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

Banks vie for role in Abu Dhabi property merger

Abu Dhabi is contemplating merging local developers Aldar Properties and Sorouh Real Estate in a state-backed tie-up that could create a company worth some $15 billion in assets.

Swiss company to start operating in DIFC

The Dubai branch will initially focus on offering specialty risk solutions to corporate clients in the Energy, Power, Engineering, Construction and General Aviation (airports, airport-related services and business jets) industries in the Middle East, DIFC

DMCC to host precious metals summit

The inaugural Dubai Precious Metals Conference (DPMC), organised in association with Foretell Business Solutions, one of India's leading commodities research firms, will be held on the April 29 and 30 at the Almas Tower in the Jumeirah Lakes Towers F

NBAD (Mizaat) Named Best Regional Investment Fund

In addition, Asset Management Group was awarded Best Investment Product in the prestigious Banker Middle East Products Award 2011 organised by Banker Middle East magazine.

Arcstone Capital Signs Investment Marketing and Capital Raising Agreement with Royal Investment Bank

Lars Pampel, Director of Investor Relations (Alternative Investments) at Royal Investment Bank Limited, said that Arcstone Capital’s investment offering was a good fit for the Bank’s portfolio of funds, as the Passage To India Fund provided in

NCB Capital to Boost Global Investment With TCW, Amundi

NCB Capital plans to start two funds in the second half of 2012 pending regulatory approval managed by TCW and Amundi, said Chief Investment Officer Faysal Badran.

Saxo Bank (Dubai) Wins Banker Middle East Award

Saxo Bank (Dubai) Ltd, the online trading and investment specialist, won the Banker Middle East's 'Best FX platform' product award at a ceremony held on Tuesday evening at the Emirates Towers.

Saudi's NCB Capital will launch four funds this year

Jawdat Al Halabi said the National Commercial Bank unit, which has 44 billion Saudi riyals (Dh43 billion) in assets under management, will launch the funds in the second half of the year, with two aimed at foreign markets and two domestically focused.

Dow Jones Credit Suisse Hedge Fund Index up 1.61% in February

Hedge funds, as measured by the Dow Jones Credit Suisse Hedge Fund Index, finished February up 1.61%; with 9 out of 10 strategies in positive territory;

MF Global’s CEO ordered funds moved to JPMorgan

The e-mail, dated Oct. 28, was sent three days before the company collapsed, the memo says.

DIB unit in Oman Shariah consultancy deal

Dar Al Sharia said it will help Bank Sohar to bring authentic Sharia-compliant banking products and services to customers in Oman.

EFG Hermes and QInvest Look to Create Strategic Alliance

EFG Hermes Holding S.A.E and QInvest have announced that they have agreed to explore a potential strategic alliance.

Abu Dhabi's Finance House to buy CAPM - sources

Under an agreement between the two parties, Finance House will acquire CAPM's investment banking and asset management licence, offering a premium of between 5 to 10 percent to the value of those businesses, one of the sources said speaking on conditi

ADS Securities Applies for License to Trade Stocks in Abu Dhabi

Declining stocks markets in the U.A.E. in 2011 hurt the Persian Gulf nation’s brokerages, with the number of companies slumping to 48 from 98 at the end of 2008.

Emirates NBD launches $1bn five-year bond

The lender is tapping debt markets for a third time this year to take advantage of better funding costs and liquidity which have allowed three other Gulf borrowers to announce bond plans this week.

Qatar banks delay launch of brokerages

Several Qatari banks may delay or even halt plans to offer brokerage services following a recent directive from Qatar's central bank about the activities they would be allowed to carry out, sources said.

Scotland seeks ME investors for World's first Green Investment Bank HQ

Creates a unique proposition of opportunity and security for Middle Eastern investors targeting renewable energy and clean technology sectors

The Dow Jones Credit Suisse Hedge Fund Index Finished Up 1.61% in February

Performance for the Broad Index and its 10 sub-strategies is calculated monthly.

Appetite for funds of hedge funds growing in the Middle East

Arcilla said the Middle East is increasingly on his marketing team's radar due to rising investor interest in fund of hedge fund (FoHF) products there.

Banks rise as bourses fall

Property stocks weighed on both markets.