Global Investor Magazine recognized AB Invest, Arab Bank's investment arm, as the "Best Brokerage House in Jordan" during the Future of the Capital Markets in the Middle East summit held recently in Dubai.
AB Invest was awarded this prestigious award for its services in securities trading on the local, regional and international markets, execution and quality of its research and analysis.
Established in 1996, AB invest has pioneered integrated investment banking services, which include corporate finance, asset management, brokerage and equity research.
Mr. Abdel Hamid Shoman, Executive Chairman of Arab Bank and Chairman of AB Invest, explained that AB Invest's unparalleled service and advice, its efforts to address market conditions, continuous innovation, in addition to after-market performance have helped secure this title.
This was also bolstered by AB Invest's key role among the consortium of banks that were mandated as Joint Lead Managers in the Hashemite Kingdom of Jordan's debut Eurobond issuance of USD 750 million – Arab Bank plc, JP Morgan, HSBC and Credit Suisse - in efficiently managing and successfully launching the issue. The deal was highly successful with a series of road-show presentations in GCC, Europe, Asia and neighboring countries leading to over USD 3 billion in firm orders. This deal is a valuable milestone for AB Invest, thereby further cementing its strong reputation and positioning in the market as one of the most successful brokerage houses in Jordan.
Also commenting on the award, Mr. Adel Kasaji, Chief Executive Officer of AB Invest added: "Our position in the market has indeed helped secure this award, but credit is also due to our team which includes highly professional investment bankers, accountants, lawyers and economists, who constantly strive to meet our clients' needs and form strong relationships."
Mr. Kasaji concluded: "It is also important to mention that AB Invest is one of the major participants in the local market; Amman Stock Exchange has consistently ranked AB invest among the most active brokers in terms of trading volume."