Rayan renews Russell Investments deal
Dubai, May 5, 2010
UAE-based Rayan Asset Management has renewed its partnership contract with Russell Investments (Russell), a leader in provision of investment solutions, for distribution of its multi-manager and OpenWorld products in the Middle East.
Since 2002, Rayan’s extensive local expertise has been introducing Middle Eastern investors to Russell’s innovative global investment solutions, said a company statement.
This extended collaboration will continue to help Middle Eastern investors restructure some of their existing international investments, and setup first class investment solutions, guidelines and policies, it added.
In addition, Rayan said the investors in the region will be able to increasingly access Russell’s consulting and advisory services.
The success of the partnership has led to Rayan’s incremental growth, and the recent senior team appointment of Jean Aboumrad as managing director.
Pascal Duval, executive managing director, EMEA at Russell said, “The Middle East is home to some of the world’s most sophisticated investors. In recent years our clients there have increasingly requested our advice as well as other investment services."
"This demand has led us to extend our consulting offering to clients throughout the region, and to focus further innovative investment solutions for investors. In addition to our partnership with Jadwa Investment of Saudi Arabia, we are delighted to prolong our relationship with Rayan," he noted.
"Russell also views the Middle East as a region of great potential for international investors, and we are dedicating resources to research investment opportunities with world-class local talent. This will lead to the creation of specialized investment vehicles," Duval observed.
"We look forward many more years’ success working with Rayan to bring market-leading solutions to investors across the region," he added.
Commenting on the renewal, Farid Bedjaoui, Rayan Asset Management CEO said, “We are very proud of the results achieved in the past years through our alliance with Russell. Our track record has demonstrated the attractiveness of Russell’s investment solutions including its multi-manager suite of products.”
"We are particularly excited to offer new and innovative investment services. Among these new services is Russell’s new Open World single-manager platform which focuses on specialised high conviction managers in high-return portfolios.
On Jean's appointment; Bedjaoui said, "We are excited to have Jean Aboumrad join our experienced management team as managing director."
"Jean’s knowledge of the regional investment base will be invaluable to the growth of our business. We will continue to grow our team over the following months," he added.-TradeArabia News Service