Saudi strategy: going it alone or finding a partner?

Asset management in the GCC: A market worth watchingA compelling opportunity for asset managersOn the ground or in the air? Saudi strategy: going it alone or finding a partner?Three hubs to serve a thriving marketDistribution holds the keyFixed income, equity, local and international assets – a demand for allShariah-compliant market tests perceptions Some, like Merrill Lynch and JP Morgan, have gone it alone. Some have partnered with very big names: Goldman Sachs has taken a stake in NCB Capital, the securities arm of National Commercial Bank, which through its Al Ahli funds range is arguably the most powerful player in domestic Saudi Arabian asset management. "We’ll work together jointly in Saudi Arabia on investment banking, marketable securities and the fund business," says Sami Abdo, managing director of investment services at NCB Capital. "It has progressed tremendously. It opens up a very wide range of products to our customers, and brings...