ADS Securities Head of Asset and Wealth Management Ryan Lemand discusses the winding down of the Saudi Arabian corruption probe. He speaks on “Bloomberg Markets: Middle East.”
“We remain very positive on Saudi since more than 2 years ago,” said Lemand.
“It’s a country undergoing reforms, transforming, becoming very efficient.”
Lemand said that the Saudi anti-corruption campaign was tackled similar to a situation when an international bank is approached by regulators for some wrongdoing and settled the cases for money.
“Looks like things are doing very well for everyone, and Saudi Prince Alwaleed is out,” said Lemand.
“The great news in Saudi for investors is that growth is flat but earnings are up 10%, so this means that while company sales are stable, they have better efficiency and that’s what investors like.”