NCB Capital CEO named Outstanding Achiever

NCB Capital, Saudi Arabia’s largest investment bank and a leading regional wealth manager, today announced that Jawdat Al Halabi, the firm’s Chief Executive Officer, has been awarded the “Outstanding Achievement by an Individual” accolade at the second annual MENA Fund Manager Performance Awards.  The award was presented at a ceremony held in Dubai this week. 

In making the award, judges for MENA FM, said, “This year was one of the most impressive of Jawdat Al-Halabi’s a 26-year career, guiding NCB Capital into several new strategies, overseeing 24% growth in firm’s overall assets under management in 2010 and helping grab an incredibly large stake of added growth in Saudi mutual fund industry since January. Al Halabi is one of the region's most prominent movers and shakers of the mutual fund industry and has taken $15.6bn NCB Capital’s asset management business from strength to strength despite today's challenging market.” 

In addition, the judges’ panel added “this award honours an individual who has made a significant impact on the fund management business over the last year.  Jawdat’s leadership at NCB Capital has helped to propel the firm into the top category of service providers, launching funds that have outperformed in a very difficult time for the market.  He is to be congratulated on his success.” 

Judging of the MENA FM awards is both qualitative and quantitative utilizing an external panel of industry experts in conjunction with the MENA Fund Manager editorial team. 

Receiving the award, Mr Al Halabi said, “It is an honour to receive such a prestigious award and I would like to dedicate it to the hard work and professionalism of all of my colleagues at NCB Capital.  Our success depends on doing the right things for our clients and I would like to think that this award endorses the strategy we have adopted of putting them at the centre of everything we do.” 

NCB Capital is the largest investment bank in Saudi Arabia with over one million clients and some US$15.6 billion of assets under management.  It is a world leader in developing Islamic investment products, having launched the first Shariah-compliant real estate income fund and manages the AlAhli Saudi Riyal Trade Fund with assets under management at a record SAR 17.4 Billion (US$ 4.7 Billion) and more than 17,000 clients as of Dec 2010, making it the largest Shariah-compliant Fund in the world.