French Natixis enters Saudi Arabia to expand its regional footprint

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Natixis has established a corporate investment banking office in Saudi Arabia, the largest Arab economy, as the French bank continues to expand its presence in the Middle East.

Banking industry veteran Reema Al Asmari has been named managing director of the Riyadh bank’s Natixis Saudi Arabia Investment Company, the lender said in a statement on Sunday.

The licensed subsidiary of the Saudi Capital Markets Authority will provide investment banking services and capital market products to its clients.

Natixis has long worked with clients based in or with interests in the kingdom. By establishing a local presence, Natixis seeks to serve new customers and strengthen its relationships with existing customers, including businesses, sovereign wealth funds and financial institutions, the bank said.

“Natixis’ commitment to the Middle East dates back more than 20 years and is based on the conviction that our areas of expertise are closely aligned with the needs of our customers operating in the region,” said Simon Eedle, Natixis manager at Middle East. “This is very much the case for the Kingdom of Saudi Arabia, especially in the framework of Vision 2030.”

Ms. Al Asmari, who joined Natixis in August 2019 as an advisor to Natixis Dubai Branch, continues to report to Mr. Eedle. Before joining Natixis, she held various positions at Banque Saudi Fransi, Deutsche Bank and JP Morgan.

Natixis, a subsidiary of Groupe BPCE, the second largest French banking group, is present in 38 countries around the world. In the Middle East and North Africa, the lender is present in Algeria and the United Arab Emirates.

Updated: May 31, 2020 11:29

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