Dubai-based Mashreq has announced a partnership with Goldman Sachs Asset Management to offer discretionary investment services aimed at high-net-worth individuals in the Gulf region. This collaboration is designed to meet the increasing demand for professionally managed portfolios, with services expected to be available starting this month.

As the number of affluent individuals seeking sophisticated investment strategies rises in the area, discretionary investment services will allow portfolio managers to make buy and sell decisions on behalf of clients. This process is based on pre-agreed investment goals and risk appetites, which means clients do not need to approve each transaction individually.

The investment approach is gaining popularity worldwide, as wealthy clients look for hands-off management that can quickly adapt to market changes while aligning with their long-term financial objectives. Vipul Kapur, head of private banking at Mashreq, emphasized that the strategic collaboration with Goldman Sachs marks a significant milestone for the bank’s investment platform, enhancing its ability to meet the evolving needs of its clientele.

Fadi Abuali, co-CEO of Goldman Sachs Asset Management International and co-CEO for MENA, noted that Mashreq’s strong customer relationships make it a valuable partner in this venture. Although the statement did not provide specific details regarding the partnership, Goldman Sachs Asset Management oversees approximately $3.1 trillion in assets as of December 31, investing across various sectors including fixed income, equity, and alternatives.