Watch out Standard Chartered: a potential competitor might have been born. London-based investment bank Medicap, 100% owned by BMCE, a Moroccan bank, launched in November, and intends to focus on one of Standard Chartered’s specialities: Africa.
Medicap is hoping to bring African firms and governments in contact with investors through its existing banking hubs in London, Paris and Madrid, as well as from distribution offices in Dubai, and, by 2009, in Hong Kong and New York.
The new bank will advise local governments and businesses on raising money in the international capital markets, help...
