HSBC Saudi Arabia named best investment bank

21 Jun 2011

(MENAFN – Arab News) HSBC Saudi Arabia, the investment arm of The Saudi British Bank (SABB), has been named the Best Investment Bank in the Kingdom by Euromoney magazine.

Walid Khoury, chief executive officer, HSBC Saudi Arabia Ltd., received the prestigious award last week at the annual Euromoney Awards special event held in Dubai.

Fouad Bahrawi, SABB board member, and David Dew, SABB’s managing director, along with other executives from SABB and HSBC Saudi Arabia attended the event.

The Euromoney awards are given to institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel.

The world’s reputable magazine judges in giving the award take into account both the breadth and depth of HSBC’s coverage in the region.

Euromoney said HSBC Saudi Arabia bank dominates the country’s debt capital markets, with a 47 percent market share this year, and was also solid in equity league tables and across all investment banking products.

Euromoney said HSBC Saudi Arabia excelled in Saudi Arabian equity research. It was mandated lead arranger in the Jubail and Ma’aden projects, and the bank remains a dominant player in flow and risk advisory in the Kingdom, Euromoney said.

In constantly challenging market conditions, HSBC Saudi Arabia maintained its position as the most innovative debt house and continued to be the house of choice for sukuk issuers accessing Islamic financing in Saudi Arabia having led more than 96 percent of all domestic Sukuk transactions in the market.

It is described as the only investment bank with a fullyfledged Saudi-based project team.

Khoury said: “We are delighted to be recognized as the Best Investment Bank in Saudi Arabia. Thanks to our customers’ trust and our teams’ excellence, HSBC Saudi Arabia has won the prestigious Euromoney Award of Best Investment Bank in Saudi Arabia for the third year in a row. This award highlights once more our commitment to provide the best service to our customers and the best training to our staff, particularly the Saudi young graduates.”