French investment bank Natixis has launched a Corporate & Investment Banking office in Riyadh, Saudi Arabia, after obtaining a licence from the country’s Capital Markets Authority (CMA).

The new office, operating as Natixis Saudi Arabia Investment Company, will offer capital markets products and investment banking services.

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Through the new facility, Natixis intends to strengthen its relationships with its existing clients consisting of corporates, sovereign wealth funds as well as financial institutions.

The firm also intends to meet the needs of new clients such as family offices through the new office.

Reema Al-Asmari will spearhead the new entity as the CEO.

She will report to Natixis Corporate & Investment Banking regional head for Middle East Simon Eedle.

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Al-Asmari has been working at Natixis since last year as an adviser to Natixis Dubai Branch.

Eedle noted: “Natixis’ commitment to the Middle East dates back over 20 years and is based on a conviction that our areas of expertise are closely aligned with the needs of our clients operating in the region.

“This is very much the case for the Kingdom of Saudi Arabia, notably in the context of Vision 2030, and we are delighted to have established a local presence in order to better serve our clients at this pivotal time for the Kingdom.”

Developments at Natixis

Last year, Natixis Investment Managers picked an 11% stake in Canada’s Fiera Capital.

In 2018, Natixis snapped up British credit specialist MV Credit and acquired a minority stake in US-based WCM Investment Management.