Dubai: Lehman Brothers, the global investment bank, yesterday said it has been granted a licence by the Qatar Financial Centre Regulatory Authority to operate as an authorised firm in the Qatar Financial Centre.
The Middle East is enjoying strong economic growth and is developing into one of the fastest growing financial marketplaces. Lehman Brothers plans to support this growth by offering a fullrange of investment banking and capital markets services in both Qatar and Dubai, where it was granted a licence in 2006.
The firm is also exploring other opportunities in the Middle East.
Lehman Brothers has established a strategic relationship with the Qatar Investment Authority (QIA) to jointly identify and capitalise on principal investment opportunities globally. The relationship is consistent with the QIA's strategy to develop partnerships with a limited number of leading commercial groups, investment organisations and financial institutions globally.
To drive the firm's growth in the Middle East, Lehman Brothers appointed Jameel Akhrass as chief executive officer for the Middle East and Bassem Snaije as head of Capital Markets and head of Investment Management for the Middle East, in April 2006.
Sir Graham Boyce was appointed as chairman of the Middle East Advisory Board in September 2006 to provide strategic advice to Lehman Brothers on its overall approach in the region.
Jeremy Isaacs, chief executive officer of Lehman Brothers Europe and Asia, said: "Lehman Brothers is laying the foundation for a strong and successful business in the Middle East. The region is very important to the firm and we look forward to developing new client relationships, as well as growing existing relationships, in 2007 and beyond."
