Saudi Fransi Capital names HSBC as custodian

HSBC_DubaiHSBC Saudi Arabia has been selected as the custodian by Saudi Fransi Capital (SFC) for its range of private and public funds. The custody mandate comes in the wake of new regulations introduced by the Capital Market Authority of Saudi Arabia that require fund managers to appoint an independent third party to manage the custody of public funds. It also makes SFC one of the first major fund managers to comply with the requirement. “We welcome this new regulation,” said Waleed Fatani, chief executive of SFC. “Not only is it in line with international best practice, but it will help strengthen the fund management sector in Saudi Arabia.” The regulation was also welcomed by HSBC Saudi Arabia’s chief executive and board member Majed Najm who called it “an extremely positive step in the development of asset services and the custody industry in Saudi Arabia”. ©2018 funds global mena 

Executive Interviews

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.


ROUNDTABLE: Charting the pace of reform

Nov 23, 2017

Saudi Arabian index inclusion, the onset of taxes and the Dana Gas controversy were among the issues discussed by our cross-industry panel. Chaired by George Mitton in Dubai.


Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.