Arqaam Capital, an investment bank in the Middle East, is planning to start a research division in Beirut, Lebanon, to provide coverage on the approximately 300 equities in the region with a market capitalization of $500m and above.

Arqaam Capital said that the research center will provide clients with up to date, market focused commentary that will support their overall investment strategy.

Riad Meliti, CEO of Arqaam Capital, said: “Investors are hungry for information to support the advice they receive from advisers and the new research center will add a new dimension to our equities offering. It will enable us to cover the full spectrum of MENAT stocks and provide distribution to all regional markets, something that is lacking across the Middle East.

“The opportunity to expand our team further, ensuring that we remain at the forefront of the Middle East’s investment banking industry, is one that we are aggressively pursuing.”

Mr Meliti also indicated that the firm may double its staff by end of the next year.