Mirabaud Middle East and Menacorp Sign Agreement to Meet High Demand of Clients for MENA Brokerage Services
Dubai, UAE – Mirabaud Middle East Ltd, part of Mirabaud & Cie SA founded in 1819 and one of the oldest and most distinguished Swiss private banks and Menacorp, the largest UAE based securities brokerage firm by trade value and market share, today announce the signing of an agreement that will expand Mirabaud Middle East’s brokerage offerings to its gulf clients by providing a
© Press Release 2016
Dubai, UAE – Mirabaud Middle East Ltd, part of Mirabaud & Cie SA founded in 1819 and one of the oldest and most distinguished Swiss private banks and Menacorp, the largest UAE based securities brokerage firm by trade value and market share, today announce the signing of an agreement that will expand Mirabaud Middle East’s brokerage offerings to its gulf clients by providing a superior level of access to MENA stock markets.This partnership will provide Mirabaud’s wealth management clients who are mainly invested in the global markets with a trading platform that provides access to MENA opportunities within the regional stock markets. The platform also offers opportunities for execution in the GCC’s $560 billion Tadawul stock market. Menacorp, which has been active in the region for over 11 years, will provide guidance and insight into market directions in addition to providing highly-developed execution capabilities and advanced trading tools, allowing clients to perform high-volume tradings.
Commenting on the partnership, Olivier Honsberger, Chief Executive Officer at Mirabaud Middle East Limited said: “Menacorp is the ideal partner to provide our sophisticated client base access to MENA stock markets. This is the time when a lot of multi-banked clients are looking at consolidating their accounts and focusing on banks that provide truly global end-to-end solutions, large-scale access and high quality advice. The importance of client servicing remains at the forefront of our business, therefore we are constantly evaluating and searching for the best partners, like Menacorp, to simplify our customers’ banking experience while maintaining the human aspect and the high level of conviction that we are known for.”By providing access to both global and regional opportunities, Mirabaud and Menacorp will be able to attract a huge segment of the market that is looking to benefit from firms that provide synergies between global outlook and local experience, in addition to high standards in servicing and advice.
Racha Alkhawaja, Head of Institutional Coverage at Menacorp: “We are very pleased to sign this agreement with a first class bank like Mirabaud. Following the upgrade of the UAE and Qatar to emerging market status, we have seen a wave of international private banks starting to offer MENA services to their clients, capitalizing on the huge opportunities that exist in this market. We are now fully integrated into Mirabaud’s system and we will now be able to offer clients a differentiated added value. We are glad that global banks are realizing the need to offer their clients the opportunity to enter a market that is becoming increasingly internationally integrated and cross-correlated.”
Following the signing of the partnership agreement, Mirabaud and Menacorp will launch the service to clients, inviting them to personalized workshops to discuss how this new opportunity will help them build and diversify their portfolio.
The Mirabaud Group
Mirabaud was founded in Geneva in 1819. Over time, the Group has developed into a multinational. Mirabaud provides its clients with customised financial and advisory services in three core areas: Wealth Management (portfolio management, investment advisory services and services for independent financial advisors), Asset Management (institutional management, fund management and distribution) and Brokerage and Corporate Finance (brokerage, corporate finance, mergers and acquisitions, debt).
With some 700 employees, the Group has offices in Switzerland (Geneva, Basel and Zurich), Europe (London, Luxembourg, Paris, Madrid, Barcelona, Seville and Valencia) and the rest of the world (Montreal, Hong Kong and Dubai).
For more information, please visit our website: www.mirabaud.com
Mirabaud (Middle East) Limited
Operating out of Dubai, alongside other financial cities around the Globe, Mirabaud (Middle East) Limited is a gateway to the Middle East, India, Africa and Asia for investors interested in geographical diversification and in the strong growth in these markets. It is regulated by the Dubai Financial Services Authority having a full banking licence (category 1 DFSA licence), enabling it to provide an extended range of financial products and services to Professional Clients.
Founded in 2005 under the name of Wafa Financial Services and fully restructured and rebranded in 2011, Menacorp is one of the largest financial services firm in the United Arab Emirates being notably ranked first, among 49 competitors, for the last three years, in terms of trade value and market share on the Dubai Financial Market. The firm is the only pure player to be licensed to operate on the four exchanges of the United Arab Emirates (Abu Dhabi Securities Exchange, Dubai Financial Market, Nasdaq Dubai and Dubai Gold and commodities Exchange) and to be authorized to provide access to regional markets (including Saudi Tadawul) as well as international markets by the UAE Securities and Commodities Authority.
Menacorp is financially backed by its main shareholder, the multi-billion Abu Dhabi-based Bin Hamoodah Group, one of the largest and most diversified privately held conglomerate of the country.