J.P. Morgan celebrates its wide geographical coverage and successful investment banking franchise in the Kingdom of Saudi Arabia. On 23 November 2008 company celebrated the official opening of its new office in Riyadh.
J.P. Morgans relationship with the Kingdom of Saudi Arabia dates back to the forging of the Saudi Kingdom in the early 1930s. Its heritage firm, Morgan Guaranty enjoyed access to the Middle East that no other firm could replicate and was instrumental in the creation of Aramcos financial transactions. It was also the only bank to travel regularly to Saudi Arabia after World War II, and was also closely involved in the creation of Saudi Arabian Monetary Agency (SAMA) in the 1950s and helped reform Saudi finance.
New office in Riyadh is bolstered by industry and product specialists based in London, enhances J.P. Morgans investment banking. The professional team provides Saudi-based clients with investment banking services across the board, including debt and equity capital markets, mergers and acquisitions and global market applications.
Over the years, J.P. Morgan has advised on a number of landmark transactions in the Kingdom including Riyadh Banks $500 million inaugural Eurobond issue and Saudi Aramcos flagship $4 billion revolving credit facility.
New Riyadh office will be led by Mohammad Al Tuwaijri, senior country officer for J.P. Morgan in Saudi Arabia and head of the subsidiary and Faisal Ansari, who is branch manager.
We will continue to invest in Saudi Arabia and the wider region where we anticipate significant growth opportunities, and remain commited to offering our clients world-class investment banking services, says Ghassan Abdul Karim, CEO, the Middle East and North Africa, J.P. Morgan.
We are delighted to be celebrating J.P. Morgans long standing history of serving clients in Saudi Arabia, which dates back to the 1930s, says Jamie Dimon, chairman and CEO, JPMorgan Chase. We are currently one of only a handful of global banks with a banking and securities licence in the Kingdom and our business has grown organically over many years.
L.D.