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September 7, 2021

Schroders forges long-term strategic alliance with Bank Muscat

By Verdict Staff

Schroders has signed a long-term strategic partnership with Oman’s Bank Muscat to further bolster its business in the Middle East region.

The partnership will bring together Schroders’ expertise in investment and wealth management and Bank Muscat’s base and distribution experience in the country.

Bank Muscat will offer its eligible clients an opportunity to build a personalised investment risk profile using an interactive digital solution developed by Schroder.

The bank will also help clients select products from a suite of investment strategies across a range of asset classes and services, which Schroders currently offers through a third-party dealing platform.

Schroders country head for the Middle East Douglas Bourne said: “We are delighted to partner with Bank Muscat to support their delivery of a unique investment solution for their clients.

“We believe that Schroders 200 years of global investment experience, combined with Bank Muscat’s extensive knowledge and traction within Oman’s wealth management market, will result in a dynamic synergy that will enable Bank Muscat to offer a high value proposition and continue to strengthen Schroders’ footprint in the Middle East.”

Bank Muscat provides personalised offerings and digital platforms for its customers in Oman.

Through this partnership, the bank aims to boost its wealth management business and expand its distribution capabilities.

Bank Muscat deputy general manager for institutional sales & product development Abdullah Maashani remarked that partnership will deliver positive outcomes for the bank’s clients.

“We have had a long-standing relationship with Schroders and this strategic partnership has been further secured following years of working together which has identified great potential for further collaboration,” he said.

Recently, Schroders Singapore signed a strategic alliance with Thailand-based Robowealth to extend a range of digital wealth solutions for investors in Thailand.

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