The French investment bank Natixis has opened an office in the Saudi capital, Riyadh; To provide corporate and investment banking services.
According to Reuters, the bank appointed former Rima Al-Asmari banker to JPMorgan as its chief executive officer.
Western financial institutions have been seeking to seize opportunities in Saudi Arabia since the government unveiled plans to privatize government assets and embarked on reforms to attract foreign capital within the framework of its Vision 2030 program to reduce economic dependence. On oil.
In a statement by establishing a local presence, Natxis aims to deepen its relationships with its current clients, including companies, sovereign wealth funds and financial institutions, and to serve new customers including Includes family offices.
The bank office, located in Al Faisaliah Tower, will provide financial market products and customized investment banking services.
Al-Asmari, who joined Natixis last August as a consultant to his branch in Dubai, will continue to work under the leadership of Simon Idel, regional director of corporate and investment banking for the Middle East at Natxis. .
Idel said in a statement that the bank’s commitment to the Middle East dates back more than 20 years and that he believes his areas of expertise are very relevant to the needs of clients in the region. >
He continued, saying this applies strongly to Saudi Arabia, especially within the framework of Vision 2030, adding that it is a crucial time for the Kingdom.
