Dubai-based banking group Mashreq has formed an alliance with Goldman Sachs Asset Management to enhance its wealth management offerings.
This collaboration will help Mashreq make a variety of discretionary portfolios available for its wealth clients.
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Beginning this month, Mashreq’s clients gain access to discretionary mandates designed to meet different investment and income requirements and tailored to individual risk appetites.
Commenting on the tie-up, Mashreq head of Private Banking Vipul Kapur said: “We remain committed to delivering tailored solutions that empower our clients in managing their investments.
“Our strategic collaboration with Goldman Sachs represents a pivotal milestone in institutionalising our investment platform. This significantly enhances our capability to cater to the evolving and sophisticated needs of our clients.”
Goldman Sachs Asset Management serves as the investment management division of Goldman Sachs, offering advisory services across both public and private markets.
As of 31 December 2024, Goldman Sachs Asset Management reported around $3.1tn in assets under management.
Goldman Sachs Asset Management International co-CEO and co-CEO for MENA Fadi Abuali stated: “With Mashreq’s strong customer relationships, the bank is an excellent partner for us in the UAE market.
“Together, we look forward to delivering strong investment solutions and performance for Mashreq’s customers.”
Last month, Goldman Sachs was in the news for its custody deal with Dynasty Financial Partners, making Goldman Sachs Custody Solutions one of the preferred custodians for Dynasty’s independent RIA network.
