Big banks head to Riyadh from Davos for Saudi Aramco ‘beauty parade’ | Arab News:
"Some of the world’s leading investment bankers will go direct from Davos to Riyadh to take part in a “beauty parade” in front of Saudi Aramco officials to pitch for lucrative roles in the oil company’s planned initial public offering (IPO) later this year. One banking chief, speaking on the sidelines of the World Economic Forum annual meeting in Switzerland, said that he and fellow executives were preparing to travel to the Kingdom early next week for a round of presentations in response to “request for proposal” invitations from Aramco. Some of the biggest banks in the world are believed to be making the trip. In addition to HSBC, JP Morgan and Morgan Stanley, all of whom have already been working to advise the Saudis on the IPO, American banks Goldman Sachs and Citibank are believed to be pitching for the next phase of the process. The German giant Deutsche Bank is also believed to be involved in the presentations."
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