Bernstein has moved to expand into the Middle East and North Africa (MENA) region for the first time with a new Dubai office.
The firm called the launch “an important milestone” for its business as it will enable greater penetration in the fast-growing Middle Eastern markets.
William Ashworth and Yasmine Rassem have been selected to build out the franchise from Bernstein’s Hong Kong and London offices, respectively. Ashworth has been appointed managing director, global execution sales and Rassem has been appointed director, global research sales.
Bernstein currently covers MENA listed equities in the energy, financials and logistics sectors. The firm confirmed that it intends to expand this coverage for the benefit of corporate and investor clients.
The new office joins Societe Generale’s existing franchise that has been operating in the Middle East region since 1997.
Read more – The new kid on the block – a closer look at ‘Bernstein’
The news follows the recent collaboration between AllianceBernstein and Societe Generale which saw the launch of a new joint venture in April focusing on global cash equities and equity research.
Named Bernstein, the joint venture was originally announced in November 2022.
Bernstein provides institutional investors, corporates and financial institutions with investment insights into North America, European and Asia Pacific equity markets, alongside liquidity access and global trading technology.
The joint venture enables Societe Generale to offer its clients a suite of global services across the equities value-chain, ranging from equity and macro research to agency execution, equity derivatives, prime brokerage and equity capital markets offerings.