Invest AD inks deal with Russia's biggest bank

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Sberbank chief executive Herman Gref.

Sberbank chief executive Herman Gref.

Russia's largest bank, Sberbank, and Abu Dhabi financial services company Invest AD have signed an agreement to cooperate on investment in the Russian and the Middle East markets.

According to the agreement, signed in Moscow, Sberbank and Invest AD will introduce their clients to opportunities in their respective capital markets, private equity, and trade finance.

The two institutions will also give each other legal support and share market research.

The agreement builds on a relationship stretching back to 2009, when Invest AD joined Sberbank in an investment in a ski resort that will host the 2014 Winter Olympics near Sochi, in the Krasnaya Polyana region.

Herman Gref, Sberbank president and CEO, said: "The Middle East is in every respect a strategic region for global policy and finance and we intend to develop an active presence there.

"Now we are exploring an opportunity of working there, and we realise that to be effective and successful, we need to have a trusted and transparent partner with strong local knowledge and expertise."

Invest AD's CEO, Nazem Fawwaz Al Kudsi, said the partnership with Russia's biggest bank would add great value to Invest AD's clients.

"We look forward to extending their clients' reach into the Middle East and Africa, and to encouraging investment flows from the Middle East into the exciting opportunities available in the fast-growing Russian economy."

Last month, Invest AD launched a new Middle East and Africa focused fixed income fund, seeking to tap potential for significant returns in the fast-growing emerging markets.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Q&A with Noor Bank

Q&A with Noor Bank

Kazim Ali, head of corporate banking at Noor Bank, discusses...

Saudi bank's $6bn IPO ignites religious controversy

Saudi bank's $6bn IPO ignites religious controversy

Plans by National Commercial Bank have prompted some clerics...

Dubai flexes legal muscles as financial court system grows

Dubai flexes legal muscles as financial court system grows

Landmark ruling by the court system in Dubai's financial free...

Most Popular
Most Discussed