JPMorgan sees more Saudi firms looking at overseas listings after Aramco
Daniel Pinto
âIf you want these companies to grow  they must have access to international capital markets â  Daniel Pinto   chief executive of JPMorganâs investment bank  told Reuters about the possibility of other Saudi international listings.
 Pinto  declined to comment on the bankâs role in the Aramco deal or to name other firms considering international listings.
 Pinto  said the bank was also in talks with other Gulf companies to list their assets overseas.
 He  said listings in New York  London  Hong Kong or Singapore might help increase the liquidity of these companies and make them attractive for international investors   he  said.
Daniel Pinto  chief executive of JPMorgan's investment bank  gestures during an interview with Reuters in Abu Dhabi  United Arab Emirates  November 6  2017. REUTERS/Tom Arnold
âWhen you have this type of momentum  people will see the benefit of having a stock that is very liquid. Other companies in the region will probably follow â  Pinto  said.
JPMorgan was considering raising its headcount by 30 percent in Saudi Arabia over the next two to three years from 70 now  as business opportunities expand   Pinto  said.
âSaudi Arabia is going through a massive transformation as they diversify their economy â  Pinto  said. âOver the past year  investors have reacted positively to this news.â
âThe need to issue will still exist but be smaller next year because of higher oil prices and lower deficits and simply because so much refinancing was done this year â  Pinto  said.
Commenting on the anti-corruption drive   Pinto  said: âIf it is done in the right way and for the right reasons it is good to do for the future of the kingdom.â
âBrazil went through a similar process. In the long-run  tackling these issues is very important â  he  said.
âIf you want these companies to grow  they must have access to international capital markets â   [TGT] chief executive of JPMorganâs investment bank  told Reuters about the possibility of other Saudi international listings.
  [TGT] declined to comment on the bankâs role in the Aramco deal or to name other firms considering international listings.
  [TGT] said the bank was also in talks with other Gulf companies to list their assets overseas.
  [TGT]   said listings in New York  London  Hong Kong or Singapore might help increase the liquidity of these companies and make them attractive for international investors    [TGT]   said.
 [TGT] chief executive of JPMorgan's investment bank  gestures during an interview with Reuters in Abu Dhabi  United Arab Emirates  November 6  2017. REUTERS/Tom Arnold
âWhen you have this type of momentum  people will see the benefit of having a stock that is very liquid. Other companies in the region will probably follow â   [TGT] said.
JPMorgan was considering raising its headcount by 30 percent in Saudi Arabia over the next two to three years from 70 now  as business opportunities expand    [TGT] said.
âSaudi Arabia is going through a massive transformation as they diversify their economy â   [TGT] said. âOver the past year  investors have reacted positively to this news.â
âThe need to issue will still exist but be smaller next year because of higher oil prices and lower deficits and simply because so much refinancing was done this year â   [TGT] said.
Commenting on the anti-corruption drive    [TGT] said: âIf it is done in the right way and for the right reasons it is good to do for the future of the kingdom.â
âBrazil went through a similar process. In the long-run  tackling these issues is very important â  he  said.