Caam teams up with Saudi entity

Dubai: Credit Agricole Asset Management (Caam) has announced the formation of Caam Saudi Fransi, an asset management joint venture with Banque Saudi Fransi (BSF), the sixth largest bank in Saudi Arabia.

Held 60 per cent by BSF and 40 per cent by Caam, the joint venture has been approved by local regulators.

Based in Riyadh, Saudi Arabia, Caam Saudi Fransi will benefit from Caam group's technical skills and capacity for innovation, as well as from BSF's knowledge of the local market.