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Sunday, 19 February 2017

JP Morgan confident of retaining share of Middle East investment bank fees | The National

JP Morgan confident of retaining share of Middle East investment bank fees | The National:

"JP Morgan said it expects to keep its market share of investment bank fees in the Middle East steady in 2017 after doubling it last year, topping the rankings on the back of a boom in international bond sales from the region as governments plugged low oil price created deficits with borrowed cash.

The American bank’s bumper year in the Middle East also came with an upsurge in fees from mergers and acquisitions including those from advising on Saudi Arabia’s US$3.5 billion investment in Uber and Qatar National Bank’s €2.7bn (Dh10.52bn) purchase of Finansbank of Turkey from National Bank of Greece.


"The Middle East was always a modest borrower in the world of emerging markets and it’s now taking its fair share because these deficits are there," said Sjoerd Leenart, the chief executive of the Middle East, Turkey and Africa for JP Morgan."



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