HSBC adds to Middle East equity analyst team with senior hire for Saudi Arabia

Raj will be based in Riyadh, and will cover listed companies in the Kingdom and MENA region for regional and international clients. In addition, he will play a key role in the development and coordination of the bank's wider Middle East research platform.

Raj joins HSBC following four highly successful years as Head of JPMorgan's European Telecoms team in London. Under his watch, the Telecoms team at JPMorgan was ranked number two by Extel, and number three by Institutional Investor's Top 100 Accounts and Hedge Funds.

This appointment follows the announcement that David Lepper is joining HSBC in the Middle East as Head of UAE Research, and marks the bank's pre-eminent status in the Middle East for brokerage, asset management, and equity analysis.

HSBC Global Research currently covers 42 listed companies in the MENA region. HSBC Saudi Arabia has a 15% share in the Kingdom's vibrant brokerage market, and is the largest equity fund manager in the country both by number of funds and by assets under management.

Commenting on the appointment, Tim Gray, CEO HSBC Saudi Arabia, said:

"We are delighted to welcome a professional of Raj's calibre and experience to Saudi Arabia. This is the largest market in the world's fastest-growing region, and HSBC enjoys a pre-eminent reputation and track record here. Raj is joining a winning team."