Wealth Management Consolidation In The GCC

The Capital Partnership (TCP), a Dubai-based specialist asset manager for institutional and high net worth clients, has been acquired by larger, local rival NCB Capital, based in Saudi Arabia, in a move that will produce one of the biggest home-grown investment groups in the region. The acquisition, for an undisclosed amount, will grow NCB's assets under management by US$4bn to US$14bn, bringing in more clients and accelerating its growth. Moreover, its wealth management services will benefit from the expertise TCP can offer in offshore, individually-customised funds of funds, trust structuring, family governance and estate

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