Thursday, June 8, 2023
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Goldman Sachs to open office in Abu Dhabi

in News
Goldman sachs to cut asset management investments that weighed on earnings
Share on LinkedinShare on WhatsApp

Goldman Sachs Group Inc. is opening an office in Abu Dhabi, marking a significant step for the US lender that was once snubbed by the emirate for its involvement in the 1MDB scandal.

Goldman Sachs’s new outpost will open in Abu Dhabi Global Market, pending final regulatory approval, according to an internal memo seen by Bloomberg News. The office will add to hubs in Dubai, Doha and Riyadh and allow it to deepen relationships with clients, according to the memo.

The bank’s Abu Dhabi office will initially be focused on asset management, while its investment bankers will remain in its Dubai office, according to people with knowledge of the matter who asked not to be identified because the matter is private.

A representative for Goldman Sachs confirmed the contents of the memo and declined to comment further.

Goldman Sachs said last year it plans to expand across the Middle East as growing foreign interest and positive economic factors prompt a boom in dealmaking and a flow of funds into the region.

Abu Dhabi, home to sovereign wealth funds overseeing more than $1 trillion, has been attracting some big names in recent months. Ray Dalio is setting up a branch of his family office in Abu Dhabi, part of the hedge fund billionaire’s deeper push into the Middle East.

Goldman Sachs had been the go-to bank for many of Abu Dhabi’s top dealmakers, but the fallout from the 1MDB corruption scandal marked its abrupt downfall in the emirate, once one of its most lucrative markets in the region.

The bank missed out on billions of dollars of deals after being sued by two of its investment funds, but has since been able to draw a line under the scandal. Goldman Sachs was a joint bookrunner on the listing of the state-owned oil firm’s drilling business, which was at the time Abu Dhabi’s largest-ever initial public offering.

By Nicolas Parasie / Bloomberg

Tags: Abu DhabiBankingGoldman SachsUnited States

Related Posts

Citigroup cuts analyst jobs, dismantles fx strategy team
News

Citigroup cuts analyst jobs, dismantles FX strategy team

Videogame retailer gamestop fires ceo
News

Videogame retailer GameStop fires CEO

Cnn’s ceo chris licht steps down
News

CNN’s CEO Chris Licht steps down

Former coinbase manager, brother settle sec insider-trading charges
News

Coinbase threatens to take SEC fight to US Supreme Court

Reddit to cut workforce by 5%
News

Reddit to cut workforce by 5%

- sequoia capital to separate us, china operations
News

Sequoia Capital to separate US, China operations

Apple curtails specs of self-driving car, delays debut
News

Apple shares hit all-time high amid new product launches

Spotify to cut 6% of workforce
News

Spotify to lay off 200 staff

3m to cut 2,500 jobs
Environment

3M settles $10 billion water pollution claims with US cities

How ergonomics impacts health and safety in the workplace
News

US companies’ hiring surpasses all forecasts, but wage growth slows

No Result
View All Result

Recent Posts

  • Citigroup cuts analyst jobs, dismantles FX strategy team
  • Goldman Sachs foresees sluggish growth, higher inflation
  • Videogame retailer GameStop fires CEO
  • Apple should buy Disney to harness potential of Vision Pro
  • How wildfire smoke affects human health

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – stuart.james@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In