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HSBC Positions itself in Saudi Arabia, Forms Electronic Custody Link

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In 2015, Saudi Arabia carefully opened its door wider to large foreign banks, enabling HSBC to become one of the largest custodians in the kingdom. In June 2018, MSCI unveiled that Saudi Arabia would get emerging market status after making significant modifications to its capital markets. In congruence with the June MSCI announcement, Majed Najm, CEO and Board Member of HSBC Saudi Arabia at the time said, “We are extremely happy with this decision, which reflects the hard work of the Capital Market Authority and the Saudi Stock Exchange. We anticipate that this will have a positive effect on the market, which will encourage further foreign investment in the Kingdom of Saudi Arabia. As the leading investment company in the Kingdom, HSBC Saud Arabia has made significant investments in its execution, custody and research platforms over the last several years in order to be able to serve its growing client base.”

Electronic Custody Efficiencies

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Changes at Temasek International

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Dilhan Pillay Sandrasegara, the Deputy CEO of Temasek International, will become CEO of Temasek International Pte Ltd, the wholly owned management and investment arm of its parent company Temasek Holdings Pte Ltd. He is succeeding Lee Theng Kiat. Lee Theng Kiat will become Chairman of Temasek International. In addition, Ho Ching will step down as Chair of Temasek International.

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NSIA Reappoints Stella Ojekwe-Onyejeli and Appoints Aminu Umar-Sadiq as Executive Directors

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On March 9, 2019, the Nigerian President confirmed the appointment of two Executive Directors to the NSIA Board (Nigeria Sovereign Investment Authority). Stella Ojekwe-Onyejeli has been reappointed as Executive Director for a second term. She is also the Chief Operating officer of NSIA. In addition, Aminu Umar-Sadiq, who is NSIA’s Deputy Head of Direct Investments, has been appointed, for the first time, as Executive Director.

In 2018, the NSIA Board established for the first time a Direct Investment Committee for review and oversight of investments in core domestic infrastructure sectors such as motorways, agriculture, healthcare, power, and education.

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HFF Finds a New Home in Jones Lang LaSalle

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Jones Lang LaSalle Incorporated (JLL) inked a deal to acquire Dallas-based HFF, Inc. JLL will acquire all the outstanding shares of HFF in a cash and stock transaction with an equity value of approximately US$ 2 billion. The transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets, Americas and Co-Chair of its Global Capital Markets Board. The transaction is expected to close in the third quarter of 2019, subject to HFF shareholder approval and customary closing conditions, including regulatory review.

Transaction Details

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