Mashreq, one of the leading financial institutions in the Middle East, has announced the launch of its exclusive new External Asset Management (EAM) coverage desk. Providing expert guidance and personalized service to external asset managers across the region, the desk propels Mashreq into the league of global financial institutions already positioned in this market, enabling the bank to meet growing demand for services from family offices and ultra-high-net-worth individuals (UHNWIs).
In response to evolving trends and customer demands across the financial spectrum, Mashreq has consistently led the way in innovation. In 2020, building on its strong foundation in wealth management, Mashreq Private Banking became one of the fist local banks in the region to introduce a dedicated family office desk. Adding the EAM coverage desk into the bank’s Private Banking division further enhances Mashreq’s ability to provide specialized services to this segment, demonstrating the regional finance giant’s commitment to supporting clients with diverse and complex financial needs.
The new EAM desk adopts Mashreq Private Banking’s service excellence approach, where each EAM – and subsequently their clients – benefits from a dedicated team of relationship managers, customer service managers and investment specialists. Serving clients across the globe, the desk caters to the growing independent wealth sector, offering bespoke investment solutions tailored to the distinct needs of each client.
“The launch of the EAM desk at Mashreq Private Banking significantly reinforces our commitment to providing innovative and bespoke wealth management solutions. This new platform will allow us to deepen our collaboration with external asset managers, offering their clients enhanced flexibility and access to global markets,” said Vipul Kapur, Head of Mashreq Private Banking. “With Mashreq’s expertise, digital innovations, and strong regional and global presence, clients will benefit from a seamless one-stop solution for banking and sophisticated wealth management. By offering customized strategies and a unique service model, Mashreq’s EAM desk is comprehensively equipped to assist clients in achieving their financial goals with confidence.”
Navin Chokhani is appointed to lead the desk, along with his current portfolio of managing the Mashreq Private Banking value proposition.
A wide range of services available via the EAM desk, including access to multi-currency accounts, dynamic financing solutions and Lombard lending, enables clients to manage and expand their wealth efficiently. Furthermore, Mashreq’s international market offerings include investment opportunities across funds, bonds, local and global equities, structured products, and local IPOs, offering clients a comprehensive toolkit for wealth optimization.
Vipul Kapur concluded: “The launch of the new EAM desk is expected to be a game-changer for the UNHWI client segment, underscoring Mashreq’s commitment to exceptional service and solidifying our position in the competitive private banking landscape. As the financial needs of UHNWIs evolve, Mashreq’s continuous innovation – and adaptation of our offerings to provide tailor-made solutions – cement our position as a leader within the market.”
