Goldman Sachs signs MOU with NCB
US investment bank Goldman Sachs has signed a memorandum of understanding (MOU) with the National Commercial Bank of Saudi Arabia (NCB) to pursue "a broad strategic relationship", according to documents obtained by SP Extra . NCB is a distributor of structured products in the Middle East.
NCB is the largest bank in both Saudi Arabia and the Middle East and Goldman is now aiming to build and expand its franchise across the region. Goldman will be working with NCB across a number of areas, including investment management, sales and trading, investment banking and principal investing, says Goldman’s New York-based chairman, Lloyd Blankfein.
“Combined with our presence in Dubai, Saudi
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