Doha Bank has agreed to become the exclusive local broker partner in the State of Qatar to Auerbach Grayson & Company, Inc., a New York-based brokerage firm that specializes in international securities trading for US institutional investors.
In April this year, Qatar relaxed its restrictions on foreign ownership, allowing foreigners to own up to 25 percent of companies listed on the DSM. Currently, the DSM lists 32 companies.
“Our agreement with Auerbach Grayson, giving us access to institutional investors in the U.S. and around the world, is an important step in expanding and diversifying the shareholder base of Qatar’s publicly-traded companies,” commented R. Seetharaman, acting general manager.
David S. Grayson, managing director and co-founder of Auerbach Grayson, said, “Doha Bank has gained an outstanding reputation, and we are very pleased to welcome them as a member of the Auerbach Grayson worldwide network. We look forward to a mutually beneficial relationship.”