Both organisations cover areas including private wealth.

Seviora Holdings, the main asset management platform of Singapore’s Temasek, a sovereign wealth fund, has agreed to set up a strategic partnership with First Abu Dhabi Bank, or FAB.

In a memorandum of understanding, Seviora and FAB will draw on their respective expertise, networks and resources to expand their access to new investment and strategic opportunities, including co-investments. The collaboration will also support greater knowledge sharing and the exchange of best practices.

FAB will explore opportunities for distributing investment strategies managed by Seviora and its affiliates through its wealth management platform, providing its clients with access to a broader range of investment opportunities, a statement from the organisations said yesterday. 

“Seviora’s MOU with First Abu Dhabi Bank strengthens our connectivity across the Middle East and creates new opportunities in the region. The MOU also opens up new areas of collaboration and access to compelling investment opportunities globally," Wolfgang Klemm, head of strategy and development at Seviora, said.

Seated (left to right): Linos Lekkas, group head of Investment Banking and Markets, FAB; Wolfgang Klemm, head of Strategy and Development, Seviora. 

Standing (L to R): Fiona Yik, corporate coverage, South-East Asia, FAB; Daniele Traversa, sovereign wealth funds and financial sponsors coverage, FAB; Ananth Ramachandran, regional head of East Asia and country CEO, FAB; Gabriel Lim, CEO, Seviora; Yeo Hong Ping, COO, Seviora; Tang Hsiao Ching, head of private wealth, investor solutions, Seviora, and Richard Astorga, CFO, Seviora.

This news service recently cast its eye over wealth management developments in the Gulf region of the Middle East.