Middle Eastern investment set to continue as JP Morgan makes their move

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JP Morgan yesterday re-affirmed their commitment to investment in the Middle East and North Africa with the appointment of Sjoerd Leenart as their senior country officer for both regions.

It is a great responsibility for Leenart as the role involves managing the lender’s overall regional presence. This covers everything from asset management to investment banking and effectively means Leenart will be central to all future investment plans.

Leenart has an impressive pedigree, having worked at JP Morgan for 17 years. He was also the co-head of debt capital markets and sales/marketing for Central and Eastern Europe, the Middle East and Africa. This means he will have contacts and resources that can be utilised for his new role.

Leenart will be reporting directly to Emilio Saracho, head of investment banking for Europe, the Middle East and Africa. Saracho also has a strong knowledge of the Middle East and Africa, having worked within the region for the past 5 years.

Saracho reiterated the importance of the appointment, saying “These appointments represent our continued commitment to the region. We have made no secret about our expansion plans and we are confident that Sjoerd will continue to grow and maximise opportunities in those markets.”

With over half of the worlds known reserves of oil and gas settled in regions such as Qatar, Saudi Arabia and Abu Dhabi, the Middle East has always been a prime location for investment.

The level of investment needed to access those reserves is particularly significant, but the rewards could certainly make it worthwhile.

Transfer Money to Saudi Arabia

If you are looking to invest in Saudi Arabia, think carefully about any plans for methods of transferring money to Saudi Arabia. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through most specialist currency dealers.

So if you are sending money to Saudi Arabia – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Middle Eastern investment set to continue as JP Morgan makes their move

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