Saudi strategy: going it alone or finding a partner?
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Saudi strategy: going it alone or finding a partner?

The many new financial services licences issued by the Capital Markets Authority in Saudi Arabia have presented international businesses with a challenge: which model to use to make the best of this new opportunity?

Asset management in the GCC: A market worth watching

A compelling opportunity for asset managers

On the ground or in the air?

Saudi strategy: going it alone or finding a partner?

Three hubs to serve a thriving market

Distribution holds the key

Fixed income, equity, local and international assets – a demand for all

Shariah-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 them global capability; it also helps us build our internal capability. But we keep our identity."

Elsewhere BNP Paribas owns a stake in the securities division of Saudi Investment Bank. Credit Suisse is a partner in Saudi Swiss Securities, whose founders include the Olayan group, a private global investor run from Saudi Arabia, and other prominent Saudi families.

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