HSBC has named Mohammed Fannouch co-head of capital markets and advisory (CMA) for the Middle East, North Africa and Turkey (MENAT). He is based in Riyadh.
He holds the role alongside Samer Deghail, who has been co-head of MENAT investment banking since 2020 and is based in the UAE.
The pair are responsible for building out HSBC’s market making and CMA business in the region, including financing solutions, corporate finance and strategic advisory.
Adam Bagshaw, global head of capital markets and advisory, commented, “HSBC is investing in areas of core competitive strength. With our MENAT CMA leadership now based in two key financial hubs, the UAE and Saudi Arabia, we will be even better placed to partner with our clients and support them as they navigate the region’s growth potential.”
In Q1, HSBC reported US$239 million in profits from its Middle East trading entities including Turkey, Egypt and Saudi Arabia.
It stated, “We will retain more focused M&A and equity capital markets capabilities in Asia and the Middle East.”
Fannouch has been managing director and head of investment banking advisory at HSBC Saudi Arabia since 2008.
