Ashmore opens Saudi business

Michael Bow
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EMERGING markets fund manager Ashmore yesterday opened its first office in the Middle East with a new base in Saudi Arabia.

The group’s founder and boss, billionaire Mark Coombs, has helped to form the office in Riyadh, to establish a new subsidiary Ashmore Saudi.

“Opening this subsidiary is part of Ashmore’s strategy to build local businesses in key emerging markets,” Coombes said.

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