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FINANCIAL | Retail Banking
alfransi.com.sa

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Founded Year

1977

Stage

PIPE | IPO

About Banque Saudi Fransi

Banque Saudi Fransi (TADAWUL: 1050) is a Saudi Arabian Joint Stock Company that operates as a bank.

Banque Saudi Fransi Headquarter Location

P.O. Box 56006

Riyadh, 11554,

Saudi Arabia

+966112890000

Latest Banque Saudi Fransi News

Morgan Stanley Banker Motaz Alangari to Join Banque Saudi Fransi

Oct 14, 2021

A banker from Morgan Stanley (NYSE: MS)  has reportedly joined the investment banking arm of Banque Saudi Fransi. According to an internal memo quoted by Reuters, Motaz Alangari, who advised Aramco, the Saudi oil giant, on its initial public offering (IPO), leaves the bank after working there for over five years. Alangari is based in Riyadh, where he was leading Morgan Stanley’s Saudi investment banking business . With the decision in place, the banker will join Fransi Capital to lead the investment banking team, according to an unnamed source quoted by Reuters as well. “During his time at Morgan Stanley, Motaz has helped greatly develop our franchise in Saudi Arabia, working tirelessly to promote the firm’s interests in the kingdom across divisions,” the memo noted. As of press time, the US bank nor Banque Saudi Fransi haven’t issued any public comments on the matter. Prince Alwaleed bin Talal’s Kingdom Holding has a 16.2% of ownership in Banque Saudi Fransi. Alangari was critical of the major deals that Morgan Stanley held in the Middle East, including Aramco’s $29.6 billion IPO. He was also involved in the public share sale of Solutions by STC, raising around $966 million. Suggested articles Middle East and Investment Banks Prior to his role at Morgan Stanley, Alangari worked for Samba Financial Group, which merged with National Commercial Bank that created Saudi National Bank this year. With the maneuver, Banque Saudi Fransi expects to capitalize on the COVID-19 recovery that the region is in nowadays after the slowdown suffered in 2020, where investment banks have been taking advantage of. In May, the Morgan Stanley Global Head of prime brokerage business resigned from his role , citing health issues. Edward Keller stepped down, and Penny Novick and Kim Shaw replaced him as the new Global Co-Heads of the prime brokerage. The exact health issues details are unknown. Share this article

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