Top 10: Saudi NCB Capital leads in Middle East asset management with over $50bln AUM

30 companies in Forbes list control a total of $258bln in assets

  
Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

REUTERS/Ahmed Yosri

NCB Capital, the investment banking arm of the Saudi Arabia-based National Commercial Bank, is the Middle East’s biggest asset manager with $50.4 billion in assets under management (AUM), according to Forbes Middle East. 

Bahrain’s Investcorp follows with $35 billion in AUM. Saudi’s Alinma Investment and Riyad Capital each has $18 billion in AUM, according to the Forbes list, which is based on the value of the companies’ total AUM as of December 2020.

Combined, the 30 listed companies control $258.2 billion in AUM. Saudi dominates the list with 16 entries, followed by the UAE with five entries. Combined, these two countries make up 70 percent of the ranking, Forbes said.

NCB Capital and Samba Capital & Investment Management Company will complete their merger in the third quarter of 2021, forming the biggest asset manager, brokerage, and investment bank in Saudi Arabia.

The Middle East’s 10 Biggest Asset Managers 2021

1.NCB Capital; Saudi Arabia; AUM: $50.4 billion

2. Investcorp; Bahrain; AUM: $35 billion

3. Alinma Investment; Saudi Arabia; AUM: $18 billion

4. Riyad Capital; Saudi Arabia; AUM: $18 billion

5. Wafa Gestion: Morocco; AUM: $14.4 billion

6. SHUAA Capital; U.A.E.; AUM: $14 billion

7. Al Rajhi Capital; Saudi Arabia; AUM: $13.3 billion

8. Kamco Investment; Kuwait; AUM: $13 billion

9. GFH Financial Group; Bahrain; AUM: $12 billion

10. Jadwa Investment; Saudi Arabia; AUM: $8.6 billion

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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© ZAWYA 2021

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