May 27 2009 |
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'Focused strategy' helps growth amid economic turmoil: Caylon
DUBAI - Calyon, Crédit Agricole's Corporate and Investment Bank, is growing stronger in the region despite the global economic crisis. This is due to a focused strategic plan that has seen Calyon gain numerous regional awards as well as being named the Investment Bank of the Year for the MENA region by Acquisition Monthly Magazine in January 2009, for the year 2008.Albert Momdjian, Calyon's managing director & head of Middle East & Africa Investment Banking as well as DIFC Branch CEO, attributed the company's long-term success to a focused organizational and investment strategy and believes that the awards recognizing its achievements in the current environment are well deserved.
"Critically, at a time when companies are downsizing, Calyon is strengthening its regional team through selective new appointments. Thanks to our focused strategy we are seeing continued positive growth and are benefiting from our exceptional track record in this region," explains Momdjian.
The regional corporate strategy is focusing on four key areas, including acting as advisors to foreign companies looking to grow their footprint in the Middle East and engaging with privately owned groups.
Additionally, Calyon's focus has ensured ongoing successful involvement in the Equity Capital Markets sector in the Kingdom of Saudi Arabia and also in the area of domestic and regional mergers & acquisitions.
This has led to a string of high profile transactions including the largest acquisition deal in the Middle East and North Africa. Calyon was pivotal as an advisor to Lafarge, the world's leading building material specialist on the largest ever foreign direct investment in the Middle East and Africa region; the acquisition of Orascom Construction Industries ' cement business for a total consideration of US$15 billion.
In Saudi Arabia, Calyon led Zain 's IPO, which was the third largest offering in the region.
"In the Middle East & North Africa, Calyon's investment banking activities have been very successful due to playing a purely advisory role, and not handling structured products or derivatives, which has essentially ensured that our regional operations have been less affected by the current economic turmoil," Momdjian said.
Calyon, which concentrates on corporate and investment banking activities, is operating from a position of strength and our approach to client services will continue to breed success and we are confident in the future, he added.
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