Mashreq, a leading financial institution, has announced a strategic partnership with Goldman Sachs Asset Management. This collaboration aims to deliver cutting-edge discretionary services, providing Mashreq’s clientele with access to a diverse array of investment portfolios.
The partnership leverages Goldman Sachs Asset Management’s extensive global experience in managing assets across public and private markets. Known for its commitment to partnership and delivering long-term investment performance, Goldman Sachs manages approximately $3.1 trillion in assets as of December 31, 2024. This alliance provides Mashreq access to Goldman Sachs’ formidable resources and research capabilities, enhancing the bank’s ability to offer superior investment solutions.
Fernando Morillo, Group Head of Retail Banking at Mashreq, expressed enthusiasm about the partnership: “We are extremely proud to start this partnership with Goldman Sachs Asset Management. This collaboration will support us in offering best-in-class investment solutions to our customers.”
Echoing this sentiment, Fadi Abuali, co-CEO of Goldman Sachs Asset Management International and co-CEO for MENA, emphasized the significance of Mashreq’s robust customer relationships in the UAE market. “Together, we look forward to delivering strong investment solutions and performance for Mashreq’s customers,” he stated.
Vipul Kapur, Head of Private Banking at Mashreq, highlighted the transformative impact of this collaboration: “Our strategic collaboration with Goldman Sachs represents a pivotal milestone in institutionalizing our investment platform, significantly enhancing our capability to cater to the evolving and sophisticated needs of our clients.”
Hilary Lopez, Head of Third-Party Wealth for EMEA at Goldman Sachs Asset Management, added, “We are excited to partner with Mashreq, whose focus on innovation and excellence in client service benefits their clients in an ever-changing world.”
Starting April 2025, Mashreq’s clients will have the opportunity to access discretionary mandates tailored to meet various investment and income needs, calibrated to their risk appetites. This initiative underscores Mashreq’s commitment to delivering a superior customer experience and establishing itself as a leader in innovative wealth management solutions.
This partnership not only reinforces Mashreq’s strategic goals but also marks a significant step forward in providing clients with enhanced tools and expertise to navigate the complexities of modern financial markets. As the global economic landscape continues to evolve, alliances like this are pivotal in shaping the future of wealth management in the MENA region.
