The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
BANKING

Business trickles back to Gulf dealmakers

Amid unabated political change, Middle East investment bankers are seeing a gradual return of deal flow after years of scarcity. Euromoney asks them where and why that might be happening, and how far it can go.

Along with Dubai’s property rebound, Gulf stock indices – which have outperformed other emerging markets this year – suggest a gradual uptick in confidence in the Middle East’s investment banking industry.

According to Dealogic, in the 12 months ending July 2013, Middle East investment banking revenue (excluding Israel) was higher than in both of the two previous 12-month periods.

Middle East (ex Israel) investment banking revenue By product type

"After almost five years of relative quietness, you’ve begun to see the level of caution among investors in the region beginning to ease," says Yorick Van Slingelandt, co-head of Middle East investment banking at New York-based advisory firm Moelis & Company. Makram Azar, vice-chairman for investment banking at Barclays, agrees: "There’s a definite sense that M&A activity in the Middle East has started to pick up over the past year compared with the first few years after the crisis."

Even compared with other emerging markets, Gulf investment banking activity is still way below its level in the years leading up to the crisis. Then, there was a proliferation of increasingly aggressive and sometimes leveraged state funds in the region, a series of big IPOs in Saudi Arabia, and the $5 billion IPO of Dubai ports company DP World.


You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree