Natixis, the corporate arm of France’s banking group Groupe BPCE, and Saudi Arabia’s Watan Investment & Securities Company have signed a strategic cooperation agreement.

The signing, which took place at the Council of Saudi Chambers in Riyadh, Saudi Arabia, marks the start of expectantly a long-term cooperation between the two institutions on a wide range of Natixis investment banking products and services.

The agreement seeks to nurture closer cooperation between Watan and Natixis to deliver prime solutions for clients in Saudi Arabia by helping Watan to broaden and develop further its financial services offering to Saudi clients through access to the spread of Natixis’ corporate and investment banking capabilities, products and expertise.

The relationship will enable Natixis to develop relationships with Saudi clients, a statement said.

“Today’s signing ceremony celebrates the start of a fruitful cooperation between two complementary entities, Watan bringing its strong relationship with clients in Saudi Arabia and Natixis providing its product expertise,” said Olivier Perquel, head of Financing and Global Markets at Natixis.

“Our partnership with Watan is ambitious, resolute and considered. In the context of our New Frontier strategic plan, Natixis is accelerating its international growth, in a robust and stable manner.”

Dr Ibrahim Al-Muhanna, chairman of Watan Investment & Securities Company, said:  “We are very excited to embark on this new relationship with Natixis; a bank that brings a range of its products and services to Saudi Arabia. The cooperation agreement will not only strengthen our capabilities, but most importantly will ensure our clients have access to both world-class solutions and specialist expertise.” – TradeArabia News Service