Stanhope Capital, an international wealth manager with offices in Europe and North America, is teaming up with a bank covering the GCC region of the Middle East.

Gulf International Bank Group, aka GIB Group, is partnering with wealth management house Stanhope Capital Group, to offer wealth advisory services to private clients and institutions in the Gulf region of the Middle East.

Services being offered include advisory, outsourced chief investment officer and discretionary wealth advisory. This adds to GIB Group’s existing offering, which includes commercial banking, retail, treasury services, asset management, investment banking and Sharia-compliant banking services. 

Stanhope is, like several of its peers, expanding into the Gulf Co-operation Council collection of jurisdictions (Bahrain, the UAE, Oman, Kuwait, Saudi Arabia and Qatar), tapping into the region’s rising wealth. Examples of firms doing more business there, sometimes with new offices and licences, include IQ-EQ, Titan Wealth, Avaloq, Canaccord, Rothschild & Co, Hamilton Lane, Indosuez Wealth Management, Bank of Singapore, and GSB Capital, among others.

For Stanhope Capital, the agreement is an opportunity to increase its presence in the GCC.

“The increasing demand for sophisticated investment solutions requires a partner that understands both local and international markets. Through this collaboration, we are well positioned to provide our clients with a comprehensive, world-class investment platform that aligns with their evolving financial goals,” Sara Abdulhadi, chief executive of GIB, said.

Daniel Pinto, chairman and CEO of Stanhope Capital Group, said: “The demand for asset and wealth management services in the GCC is immense and our ability to combine the GIB Group’s access and expertise with our long-standing experience servicing the most demanding institutional and private clients globally will create something unique in the region.”

Founded in 2004, Stanhope Capital Group oversees about $40 billion for private clients, endowments, charities and other institutions across the globe. It has offices in London, Geneva, Luxembourg, Paris, New York, Philadelphia, Palm Beach and Boston.