Saudi's Riyad Capital predicts 25 pct growth in AUM over several years

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By Stanley Carvalho ABU DHABI, March 11 (Reuters) - Riyad Capital, the Saudi Arabian investment bank, expects its assets under management to grow at least 25 percent over the next few years, helped by the opening of the kingdom's stock market to direct investment by foreigners later this year, a company executive said on Wednesday. The Riyadh-based firm, the investment banking arm of Riyad Bank, currently manages about $8 billion in assets, largely in equities-related areas. "With the opening of the stock market, foreign investors will come directly as well as indirectly through funds, through asset managers," Adel al Ateeq, senior vice president and head of asset management, told Reuters on the sidelines of a conference in Abu Dhabi.

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