Gaurav Shah (left), CEO and Majed Al-Otaibi, Head of Asset Management, Al Rajhi Capital, receive the award. RIYADH – Al Rajhi Capital, one of the leading asset managers in Saudi Arabia, has been named by Global Investor Magazine/ISF, a Euromoney publication, at its Middle East Awards 2012, as “Saudi Arabia Asset Manager of the Year" and its CEO, Gaurav Shah, as “CEO of the Year Middle East". The awards were accepted by Shah at a ceremony in Doha, where leaders of the region's financial services industry gathered, Al Rajhi Capital said in a statement Saturday. Along with the support of a world-class team, the firm's offering of creative and well structured investment and market access solutions has increased significantly as have assets under management, making Al Rajhi Capital one of the fastest growing asset managers in the Kingdom today. “We thank Global Investor/ISF for these awards," said Shah. “It is a great honor to receive these awards, but more importantly it signifies an exceptional effort on behalf of our entire team, whose dedication and hard work remain at the core of our success and market expertise." Shah added that “the GCC is entering a phase of major economic expansion and the asset management industry has potential for multidimensional growth. The numerous projects underway spanning infrastructure, hydrocarbons, healthcare, education, tourism and transport will require efficient flow of capital into and within the region. The asset management industry is a key enabler in achieving these capital flows." He further said “the role of asset managers includes financial inclusion by providing access to investment products and services, and the importance of financial education in achieving this is critical." He also stressed the significance of responsible asset management, which involves responsibility to customers, responsibility to the financial system in the country and region, and responsibility to the broader community. The firm also continues to expand its economic and equity research coverage to enhance the level of education and knowledge amongst local and regional investors. “With the strong performance and growth achieved by our teams over the past year, we remain committed to delivering excellence for our investors and clients by building on our position as a leader in wealth management and investment banking services in the Kingdom," Shah added. – SG
