Citigroup sees Saudi, UAE as top Mideast markets for deals this year - executive | ZAWYA MENA Edition:
Citigroup expects the majority of investment banking opportunities in the Middle East to come from Saudi Arabia and the United Arab Emirates this year, said Miguel Azevedo, Citigroup's head of investment banking, Middle East and Africa.
The U.S. lender, which is working towards a full banking licence in Saudi Arabia, ended a five-decade presence in the kingdom in 2004 but in 2015 won permission to invest directly in the local stock market and last year gained approval to begin investment banking operations.
"I can see real interest awareness and potential demand for Saudi exposure," Azevedo told Reuters on the sidelines of a conference in Abu Dhabi.
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