Muscat, Oman, March 4th, 2008: The growing importance of foreign capital and cross-border acquisitions was highlighted at an exclusive gathering of top regional bankers as depositary receipt issuers gathered for their annual industry gathering in Muscat, Oman.
The Bank of New York Mellon held this weekend the 10th Annual International Equity Conference for Emerging Europe, Middle East and African Depositary Receipt Issuers in which Mark Hanson, Chief Executive of Global Banking Corporation in Bahrain, was one of the speakers. Leading investors, bankers and advisors from organizations such as the Bank of New York Mellon, London Stock Exchange and Commercial International Bank attended this prestigious invitation-only three day event.
Mr Hanson gave his insights on foreign capital and outlook for cross border acquisitions and investments in the region, commenting: “The emerging markets of the MENA region continue to boom, in contrast to the faltering economies of Europe and especially the US. This, in addition to the weakness of the US dollar, leads us at GBCORP to forecast increased acquisitions from the MENA region into western markets, companies and institutions.”
“We expect sovereign wealth funds to play an increasingly active role over the coming year,” he added.
Mr. Michael Cole-Fountain, Executive Vice President, Bank of New York Mellon said: “We are delighted to have attracted top speakers such as Mark Hanson, whose expertise has added a valuable perspective from the global Islamic banking industry. We thank GBCORP for their participation in the event and look forward to working with them further in the future.”
The Bank of New York Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration, more than $1.1 trillion in assets under management and services $11 trillion in outstanding debt.
GBCORP provides a different type of ethical investment, developing new investment offerings that align with investors’ personal values and ethics. As a fast-growing Islamic investment bank, GBCORP’s aim is to provide its clients with global shari’a compliant investment opportunities whilst offering a professional and personalised service.
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