Gulf asset manager Amwal Capital Partners is set to launch a fixed income division to tap increasing opportunities in the region, two sources with knowledge of the matter said.

Amwal, whose clients include sovereign wealth funds, international institutional investors and multi-family offices according to its website, has around $2 billion in assets under management.

The company has appointed Zeina Rizk and Sharif Eid to co-head the new fixed income unit, the sources said.

Based in Dubai since 2016, Amwal opened an office in Riyadh last year to cater directly to clients in Saudi Arabia.

Rizk was previously at Arqaam Capital and Eid will join from Franklin Templeton.

(Reporting by Rachna Uppal and Federico Maccioni; editing by Jason Neely)