MENA Asset Management and Brokerage Directory 2019
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GLOBAL INVESTOR GROUP www.globalinvestorgroup.com www.ads-investments.com MENA Asset Management and Brokerage Directory 2019 ASSET MANAGEMENT | BROKERAGE | CUSTODY AND FUND ADMINISTRATION CONSULTANTS AND SERVICE PROVIDERS | FINANCIAL CENTRES AND STOCK EXCHANGES Attention: Future under construction. Together we thrive Issued by: HSBC Bank Middle East Limited U.A.E Branch, P.O.Box 66, Dubai, U.A.E, regulated by the Central Bank of the U.A.E for the purposes of this promotion and lead regulated by the Dubai Financial Services Authority. © Copyright HSBC Bank Middle East Limited 2019. ALL RIGHTS RESERVED. No part of this document may be reproduced, stored, distributed or transmitted in any form without prior written permission of HSBC Bank Middle East Limited 05/2019 GLOBAL INVESTOR GROUP www.globalinvestorgroup.com www.ads-investments.com MENA Asset Management and Brokerage Directory 2019 Asset Management 9 Brokerage 27 Custody and Fund Administration 35 Consultants and Service Providers 49 Financial Centres and Stock Exchanges 67 MENA Asset Management and Brokerage Directory 2019 3 A Few Thoughts on the World Economy Market volatility has intensified as events such as the deepening U.S.-China trade war and rising geopolitical tensions in the Middle East make investors jittery, with trading likely to remain choppy despite the global economy proving more robust than many had imagined. About the author: Dr Ryan Lemand Dr Ryan Lemand is currently the Senior Executive Officer of ADS Investment Solutions (ADSI), based in Abu Dhabi. The focus of ADSI is on quantitative and systemic investment strategies, as well as bespoke and customized mandates for high net worth and institutional investors, in addition to open architecture third party funds offering. Until 2015, Ryan was Senior Advisor and Head of Risk Management at the Emirates Securities & Commodities Authority, the UAE’s federal securities regulator. In this capacity, Ryan led and contributed to initiatives which MENA Asset Management and Brokerage Directory 2019 4 The U.S. unemployment rate fell to 3.6 percent in April, its lowest since 1969 as the world’s biggest economy added 263,000 jobs that month, while there are more vacancies than people seeking work, underlining the strength of the jobs market. Last year, U.S. interest rates rose by 1 percentage point, but the Federal Reserve has since kept its policy rate unchanged within a range of 2.25-2.5 percent and has indicated that no further increases are likely this year. Meanwhile, inflation is also benign, with the U.S. consumer price index in April rising 2 percent year-on-year, which is the Fed’s target level. About the author: Dr Ryan Lemand gave way to the development of a where he was responsible for number of fundamental financial managing a 14.6 billion euro regulations in the UAE, including portfolio of assets, namely in the the collective investment scheme space of credit derivatives. regulations, as well as regulations Dr Lemand holds a PhD (summa of financial analysis and consultancy cum laude) in Financial Econometrics services, market making and others. from the École Normale Supérieure, He was principally responsible for France, and is the author of two leading the Funds and Investment books on financial contagion, as well Management team that handles the as a number of research articles on licensing and approvals for local and financial correlation. Dr Lemand also foreign mutual funds and investment taught financial econometrics courses managers. Additionally, he helped at the Paris II-Assas University and develop a risk management Paris IX-Dauphine University in Paris, framework for UAE licensed brokers. France. He is a sought after speaker and contributor to major financial Prior to that, Ryan was the markets discussions and events Lead Portfolio Manager at Fortis in the UAE and in the wider MENA Investments in London and Paris, region. MENA Asset Management and Brokerage Directory 2019 5 These are all positive indicators, as were broadly upbeat first-quarter corporate earnings, but valuations are stretched, and investors are nervous. These jitters are shown in the increased volatility on U.S. equity markets, with stocks more susceptible to event-driven sell-offs as investors opt to lock in profits. In Europe, where growth has long slumbered in comparison to the vibrant United States, the likes of France, Italy and Spain have reported better-than-expected GDP figures. Accelerating economic growth means the European Central Bank is unlikely to have to resume quantitative easing as momentum builds across much of the continent. China also posted above-forecast GDP figures in April, with the world’s No.2 economy expanding by 6.4 percent year-on-year in the first three months of 2019. That prompted some analysts to raise their growth outlook for China for the rest of the year. This early-year performance suggests government stimulus measures are succeeding, with China’s Manufacturing Purchasing Managers’ Index in March expanding at its fastest pace since mid-2018. Caution is still required, but the signs are that China’s economy is becoming re-energised, which will have positive knock-on effects for Europe and the U.S., although much will depend on whether Washington and Beijing can resolve their trade dispute. Nevertheless, we are optimistic that a compromise can be reached, which would greatly benefit both sides, and we place the probability of a China-U.S. agreement at more than 70 percent. Our positivity over the global economy does not temper our need for caution – markets will remain choppy, so we recommend that our clients book some of the profits they have made since the start of 2019 and raise their cash allocation to around 20 percent of their portfolio. MENA Asset Management and Brokerage Directory 2019 6 We also advise aligning portfolios with minimum variance strategies, also known as smart-beta, in order to reduce the impact of market volatility. We recommend taking this approach until the end of the summer at least. By then, some geopolitical uncertainties should have become clearer, such as the fate of Brexit and the China-U.S. trade spat, which should pave the way for financial markets to prosper in the last quarter of 2019. That will be the signal for investors to reduce their cash allocation and reinvest in equities. In summary, one should be wary for now, but prepare for an end-of- year bounce. OIL OUTLOOK Closer to our home region, the U.S. removal of any waivers on Iranian oil has heightened tensions both on crude markets and in geopolitics. Iran could respond in many ways, including leaving OPEC, and such events will likely extend crude’s prices gains, especially as the oil market is close to a supply-demand balance. Global oil demand will increase by 1.4 million barrels per day in 2019, the International Energy Agency forecasts. Brent was already up 31 percent this year as of May 10, while China’s bigger-than-expected GDP growth could swell demand further. This will, of course, be negative for oil-importing emerging markets, but will be a boon for oil-exporters, so we recommend investors be overweight in their exposure to the six-member Gulf Cooperation Council (GCC). Saudi is changing and emerging market investors understand the opportunity that this presents. Dr Ryan Lemand MENA Asset Management and Brokerage Directory 2019 7 SECTION AND COUNTRY CONTENTS ASSET MANAGEMENT 9 Bahrain 10 Egypt 10 Jordan 11 Kuwait 12 Lebanon 13 Oman 14 Qatar 15 Saudi Arabia 17 United Arab Emirates 19 BROKERAGES 27 Bahrain 28 Egypt 28 Jordan 29 Kuwait 29 Morocco 30 Qatar 30 Saudi Arabia 32 United Arab Emirates 32 CUSTODY AND FUND ADMINISTRATION 35 Bahrain 36 Egypt 38 Kuwait 39 Lebanon 40 Oman 41 Qatar 42 Saudi Arabia 44 United Arab Emirates 45 CONSULTANTS AND SERVICE PROVIDERS 49 Bahrain 50 Jordan 53 Kuwait 15 Qatar 57 Saudi Arabia 59 United Arab Emirates 61 FINANCIAL CENTRES AND STOCK EXCHANGES 67 Bahrain 68 Egypt 68 Jordan 69 Kuwait 69 Morocco 70 Oman 70 Qatar 71 Saudi Arabia 71 United Arab Emirates 72 CONTACT DETAILS 74 INDEX BY COMPANY 75 INDEX BY COUNTRY 79 MENA Asset Management and Brokerage Directory 2019 8 GLOBAL INVESTOR GROUP www.globalinvestorgroup.com www.ads-investments.com MENA Asset Management and Brokerage Directory 2019 Asset Management Bahrain 10 Egypt 10 Jordan 11 Kuwait 12 Lebanon 13 Oman 14 Qatar 15 Saudi Arabia 17 United Arab Emirates 19 MENA Asset Management and Brokerage Directory 2019 9 ASSET MANAGEMENT Bahrain Egypt Asset Management Asset Management Bahrain Egypt CI ASSET MANAGEMENT NATIONAL BANK OF BAHRAIN 64 Mohie El Din Abol Ezz Str. , Dokki, Giza, P.O.Box 106 Manama, Bahrain 12311, Egypt Tel: +973 1722 8800 Tel: +202 33318100 Fax: +973 1722 8998 Fax: +202 33356796 Email: [email protected] www.cicapital.com.eg www.nbbonline.com Type of Firm Type of Firm Asset Management Bank Managing Director NBK CAPITAL PARTNERS Amr Abol Enein [email protected] United Tower, Building 316, Road 4609, Seafront 346, Office 2606, 26th Floor, Bahrain NBK CAPITAL PARTNERS Bay, Manama, Kingdom of Bahrain Tel: +973 17 000 261 20th Aishaa El Taymoria, Garden City, Cairo, Email: [email protected] Egypt, Postal Code: 11451 www.nbkcpartners.com Tel: +202 2793 2665 Email: [email protected] Type of Firm www.nbkcpartners.com Investment Firm Type of Firm Vice President (NBKC Partners), Real Estate Investment Firm Investment Hussein Allie VP - Portfolio Analysis, Asset Management Tel: +973 17 000 261 Samiha Abou Ameira Email: [email protected] Tel: +20 2 27932665 Email: