Sohar International signs distribution deal

InvestmentOmani asset manager Sohar International has entered into a strategic alliance with EFG International, a private Swiss bank that will see the two join efforts in promoting their investment products. Of particular interest to Sohar is EFG’s international footprint and presence in 40 international locations as well as its open architecture platform which Sohar says matches its “long-term objectives”. The alliance will see Sohar combine its existing investment advisory business and wealth management platform with EFG’s international network. “We have kick started our Investment Banking and Wealth Management Platform and EFG will augment growth of these businesses,” said Ahmed Musalmi, chief executive of Sohar International. “We believe EFG’s international experience will be an enabler in enhancing financial advisory capability of local market players and foster development of capital market in Oman.” “As part of this partnership, Omani customers will be able to benefit from the option of a private banking relationship with EFG in Switzerland and from access to EFG’s extensive product and service offering, while simultaneously leveraging on Sohar International’s capabilities as an independent asset manager,” added Adrian Kyriazi, head of continental Europe at EFG International. ©2019 funds global mena

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