Middle East Investors Summit 2017

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  • Emirates NBD:
    Accelerating Middle Eastern Growth amidst the Eurozone Crisis

    Gary Dugan, a speaker at the marcus evans Middle East Investments Summit 2011, shares his views on how the eurozone crisis has impacted institutional investors in the Middle East.

    Interview with: Gary Dugan, Chief Investment Officer, Emirates NBD

    FOR IMMEDIATE RELEASE
     
    In today’s changing economic market,
    institutional investors are unaware of the context in which they are investing, says Gary Dugan, Chief Investment Officer, Emirates NBD. The eurozone crisis has been an immense setback to Middle East investors, principally because it has produced uncertainty.

    A speaker at the marcus evans Middle East Investments Summit 2011 in Dubai, UAE, 23 - 24 November, Dugan discusses the importance of remaining flexible and patient in unsystematic environments.

    How has the eurozone crisis impacted institutional investors in the Middle East?

    Gary Dugan: The eurozone crisis is the main setback facing investors in the Middle East, principally because it has produced uncertainty. Institutional investors are unaware of the context in which they are investing, as anything could happen tomorrow.

    The financial position of the Middle East, particularly that of Dubai, has dramatically improved, but has recently been put back because of the global credit crunch and European banks withdrawing their capital from the financial markets.

    Being flexible and patient in today’s shifting market is crucial. Investors have become extremely short-term and have jumped back into equities in the hope that they will see a rise of five to ten per cent, but have found themselves down three per cent. Many investors have lost small amounts of money too often in this crisis; they must learn to be patient.

    Chief Investment Officers should never dismiss specific asset classes due to times being tough. They must remain diversified if they wish to prosper.

    Where do the investment opportunities lie in the Middle East?

    Gary Dugan: On a five year view, opportunities primarily exist in the equity market. Equity valuations in many parts of the world are low both on an absolute and relative basis; regional equities are very low in comparison to international standards. Yet in the MENA region, economic growth is assured with a high oil price and strong population growth.

    In the short-term, investors will face even more challenges set by the eurozone. The Middle East at this point still needs flows of international capital into the market in order to lift valuations and continue to see improvement.

    Have investors turned towards more sustainable investment strategies?

    Gary Dugan: Unfortunately, while there is a financial crisis occurring, themes such as green investing and sustainability have taken a back seat. To be fair, we are seeing investors become more aware of these approaches and recognising the importance of responsible investing.

    What is your outlook for the private banking sector?

    Gary Dugan: There is continued growth in the sector as wealth increases across the region. With the Arab Spring this growth will be even more widely spread.

    The private banking sector has previously been dominated by international players and we believe that domestic banks will start to take a greater market share, creating immense opportunities in the region. 


    Contact: Stacey Melvin, Journalist, marcus evans, Summits Division

    Tel: + 357 22 849 400
    Email:
    press@marcusevanscy.com


    About the Middle East Investments Summit 2011

    This unique forum will take place at the Park Hyatt Dubai, UAE, 23 - 24 November 2011. Internationally acclaimed as the leading event for Middle East institutional investors, the Summit offers much more than any conference, seminar or trade show. This exclusive meeting will bring together esteemed thought leaders in institutional investing and market leading solution providers for a highly focused and interactive networking event. The Summit includes presentations on seizing attractive investment opportunities, gearing up for new regulatory regimes, and securing portfolio performance.

    For more information please send an email to info@marcusevanscy.com or visit the event website

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    Complementing our Summit format, the Investment Network – marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.

                              

    About marcus evans Summits

    marcus evans Summits are high level business forums for the world’s leading decision-makers to meet, learn and discuss strategies and solutions. Held at exclusive locations around the world, these events provide attendees with a unique opportunity to individually tailor their schedules of keynote presentations, think tanks, seminars and one-to-one business meetings. For more information, please visit www.marcusevans.com


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