UAE Bank Mashreq Partners With Goldman for DPM
Dubai-based Mashreq inked a partnership with Goldman Sachs Asset Management to expand its offering to wealth clients.
Mashreq has formed a partnership with Goldman Sachs Asset Management (GSAM) to provide discretionary portfolio management services to wealth clients, according to a statement. From April 2025 onwards, customers can access discretionary mandates catering to various investment and income needs based on their risk appetites.
«We are extremely proud to start this partnership with Goldman Sachs Asset Management,» commented Fernando Morillo, group head of retail banking at Mashreq. «This collaboration will support us in offering best-in-class investment solutions to our customers. In addition, we gain access to the expertise, research capabilities and resources of one of the world’s leading financial institutions.»
Established in 1967, Mashreq – previously known as the Bank of Oman – was the first lender to operate in the United Arab Emirates (UAE). Today, it is a diversified global financial group and in 2024, it achieved a net profit before tax of 9.9 billion UAE dirhams ($2.7 billion).
