SAB Invest has entered into a collaboration agreement with HSBC Asset Management aimed at delivering shared expertise in local and international markets to institutional and high networth clients seeking investment opportunities in the Middle East and North Africa (MENA) region or globally.
Under the agreement, SAB Invest will provide significant on the ground expertise through a team of qualified professionals with extensive insights into the Saudi Arabian and MENA markets; whilst HSBC Asset Management, with a strong heritage of connecting clients to global investment opportunities, brings the expertise, resources and capabilities of a global asset manager.
With the Kingdom looking to attract $100 billion in foreign direct investment annually by 2030, combined with increased wealth creation in Saudi Arabia, the agreement will enable the two businesses to better serve the growing needs of institutional and high networth clients in the region and around the world.
Managing Director and CEO of SAB Invest, Ali Almansour, said: "The cooperation agreement centres on 3 key themes: sharing of expertise and knowledge, business development, and collaborating on product manufacturing. We believe this cooperation provides us with a unique position in the market by combining local expertise with global top tier financial services for our clients.”
CEO of HSBC Asset Management, Nicolas Moreau, also commented: “This agreement deepens our partnership with SAB Invest and will further enable us to support our clients across the HSBC global network in accessing opportunities in the Kingdom, particularly in asset classes such as Alternatives and Emerging Markets.”