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Sunday, 26 February 2017

Evercore Plans Dubai Office, Hiring Amid Aramco IPO Talks - Bloomberg

Evercore Plans Dubai Office, Hiring Amid Aramco IPO Talks - Bloomberg:

"Evercore Partners Inc., the investment bank founded by Roger Altman, is planning to open an office in Dubai as it seeks new business in the region, including a role on Saudi Arabian Oil Co.’s initial public offering, according to people familiar with the matter. Evercore is in discussions to become a financial adviser to the state-owned oil giant, known as Aramco, after rival Moelis & Co. was hired for the listing, said the people, who asked not to be identified because the talks are private. Altman’s firm is in talks with bankers from competitors to staff the new Dubai office, which it plans to open this year, the people said. Evercore will start with a small team based in the Dubai International Financial Centre where many of its competitors are based, the people said. A representative for Evercore declined to comment on the office plans or the bank’s potential role on the Aramco IPO. Aramco declined to comment."

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