This latest appointment adds to Northern Trust’s growing client base across the Gulf Cooperation Council (GCC) states, which include 60% of the GCC government pension funds and 50% of the GCC sovereign wealth funds.
Said Abdulwahed Al Murshidi, CEO, Muscat Capital: “Northern Trust’s ability to offer tailored solutions for the Gulf region as well as their proven expertise in supporting Saudi institutions through their local presence in Riyadh, were among the key factors in their selection.”
Northern Trust has been serving clients across the Middle East since 1987 and, through its offices in Abu Dhabi and Saudi Arabia, provides asset servicing and asset management expertise to pension funds, sovereign wealth funds, investment managers and ultra-high net worth individuals across the region. It offers a range of solutions tailored to support the needs of Middle East investors including
shari’ah-compliant post-trade compliance monitoring, shari’ah-compliant investment manager discretionary mandates and sukuk processing and reporting services.
Said Michael Slater, Country Head, Saudi Arabia, Northern Trust: “We understand that sophisticated institutions like Muscat Capital require customised solutions to meet their evolving requirements in this dynamic market, in particular the ability to innovate and offer asset servicing solutions around the Middle East’s working week. Our presence as part of the business community in Saudi Arabia, underpinned by long-standing expertise as a provider of these services ensures we are well-placed to continue providing exceptional service to clients in the region.