Arqaam Capital Plans Middle East Equity Research Division in Beirut Dubai, UAE
Thursday, May 13, 2010
Arqaam Capital, the only investment bank in the Middle East selling equities futures, plans to start a research division based in Beirut that will provide coverage on the approximately 300 equities in the region with a market capitalization of $500 million and above.
Already the first regional bank to become a trading member on Nasdaq Dubai derivatives platform, Arqaam Capital today announced its intention to once again lead the way and set up a research centre in the Lebanese capital that will in time cover the entire range of equities in the territory known as MENAT – Middle East, North Africa and Turkey.
“Investors are hungry for information to support the advice they receive from advisers and the new research centre will add a new dimension to our equities offering,” said Riad Meliti, chief executive office of Arqaam Capital. “It will enable us to cover the full spectrum of MENAT stocks and provide distribution to all regional markets, something that is lacking across the Middle East,” he said.
Arqaam’s growth strategy is well under way as it approaches the end of its second year of trading, with offices in Dubai and London, and two more, including Beirut, being established in the coming months. Arqaam is now a full service investment bank meeting the full needs of its institutional clients from brokerage through to corporate finance and asset management.
The research centre will provide clients with up to date, market focused and incisive commentary that will support their overall investment strategy
“The opportunity to expand our team further, ensuring that we remain at the forefront of the Middle East’s investment banking industry, is one that we are aggressively pursuing,” said Meliti, who indicated that the firm may double its staff by end of the next year.
Arqaam has already made substantial progress with assembling an impressive team of Research Analysts with regional and international experience. This team will adopt a sector based approach initially focusing on the Banking, Construction & Real Estate and Energy sectors, which will be added to in due course.
In addition to the launch of the Beirut research centre, Arqaam Capital will be participating as the title Sponsor at the upcoming Dubai Beirut Forum, held at the Dubai International Finance Centre on 6th June with Lebanon’s former Prime Minister Fuad Siniora as the featured guest.
This unique knowledge forum will explore the question if the Middle East can support more than one business hub, and debate whether the Lebanese economic boom of the last 3 years makes Beirut a contender again.
Arqaam Capital Limited
Level 27, Index Tower
Dubai International Financial Centre
PO Box 506687 Dubai
United Arab Emirates
Tel: +971 (0)4 507 1700