HSBC Saudi Arabia wins top award from Euromoney

The award was accepted by Sheikh Fouad Bahrawi, Board Director of HSBC Saudi Arabia Limited.

At the awards ceremony in Doha, HSBC Saudi Arabia, the investment banking affiliate of SABB, was named 'Best Investment Bank in Saudi Arabia.' HSBC was also named as 'Best Debt House in the Middle East' and 'Best Cash Management House in the Middle East.'

Timothy Gray, Chief Executive Officer of HSBC Saudi Arabia, commented:

"We are proud to be recognised by Euromoney for four consecutive years, illustrating the progress we have made since our establishment. These awards are a testament to the high quality of products and services which HSBC delivers in Saudi Arabia and the Middle East as a whole. The awards are also an outstanding tribute to the commitment of our staff."

Euromoney Awards for Excellence are amongst the most respected awards for financial services across the world, and are a benchmark within the industry for class-leading products and services.

Among the notable transactions undertaken by HSBC Saudi Arabia have been:
• the lead manager of four sukuk transactions in the Kingdom in 2008 aggregating $2.2bn of funds raised;
• financial advisor to the landmark 2008 IPO of PetroRabigh, the first IPO of a Saudi Aramco business, as well as the IPO's of MMG and BUPA Saudi Arabia;
• adviser to the owners of Saudi Industrial Gas Company (SIGAS) on the sale of a majority stake in the company to Linde AG of Germany;
• financial advisor to the world's largest water desalination company, the Saline Water Conversion Company (SWCC), for their major privatization and expansion programme.