Deutsche Bank announces that the Capital Market Authority of Saudi Arabia has granted a brokerage licence to Deutsche Securities Saudi Arabia (‘DSSA”), a subsidiary company of Deutsche Bank AG.
DSSA is authorised to provide a range of brokerage and financial activities including trading in securities, custody, underwriting, arranging and advising as well as providing investment funds and client portfolio management.
DSSA will capitalise on Deutsche Bank’s global investment banking platform in developing state of the art financial solutions to Saudi based clients and international entities operating in or wishing to enter the Saudi market.
Deutsche Bank AG has been present in the Kingdom since 2005 with its establishment of a branch in Riyadh
Henry Azzam, Chief Executive Officer for the Middle East North Africa Region said “We are delighted to have been granted this license. We have an ambitious growth strategy in Saudi Arabia and this will bring us to the next level of furthering the development of our franchise in the Kingdom providing brokerage, asset management and investment banking services to our client base.”
Jamal Al Kishi, Chief Executive Officer of DSSA adds “We look forward to ensuring first class solutions for our corporate and institutional clients in the Kingdom. The establishment of DSSA is an important step that will allow DB to pursue more effectively one of its important objectives, contributing to the development of the Saudi capital markets and developing Saudi investment banking talent and expertise”.
DEUTSCHE BANK AG DOHA (QFC) BRANCH
Elaine Bartleet (44 207) 545 4907
Press and media relations
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