Dubai-based Mashreq has announced a strategic partnership with Goldman Sachs Asset Management to introduce discretionary investment services across the Gulf region. The move aims to address the rising demand for professionally managed portfolios among the region’s growing base of high-net-worth individuals.
In a joint statement, the two firms revealed that the new investment services would be available starting this month. The collaboration is expected to provide clients with access to advanced wealth management solutions, enabling portfolio managers to execute trades on clients’ behalf based on pre-defined investment objectives and risk preferences — without requiring client consent for each transaction.
The approach is gaining popularity among affluent investors who prefer a more hands-off strategy, offering flexibility to respond to market changes while keeping long-term financial goals in focus.
Vipul Kapur, Head of Private Banking at Mashreq, described the partnership as a “pivotal milestone” in the bank’s efforts to institutionalise its investment platform. “This significantly enhances our capability to cater to the evolving and sophisticated needs of our clients,” he said.
Fadi Abuali, Co-CEO of Goldman Sachs Asset Management International and Co-CEO for MENA, echoed the sentiment, praising Mashreq’s deep client relationships and describing the bank as a valuable partner in the region.
While details of the agreement remain limited, the partnership highlights Goldman Sachs Asset Management’s increasing presence in the Middle East. As of December 31, the investment arm of the U.S. banking giant managed approximately $3.1 trillion in assets across a range of products including fixed income, equities, alternatives, and multi-asset strategies.
