New York brokerage Auerbach Grayson—60% owned by Beltone Financial Holding—has reshuffled its board of directors to include Naguib Sawiris; Ayman Suleiman, board member of Beltone Financial Holding; Bassem Azab, CEO of Beltone Financial Holding; David Grayson, one of the founders of Auerbach Grayson; and Daniel Sigg, director at Laguna Trustees Limited.

A partnership agreement has been approved between Arqaam Capital and Auerbach Grayson, with the intention of providing investment opportunities in the Arabian Gulf region and South Africa to Auerbach Grayson clients.

Chairperson of Beltone Financial Holding, Sameh El-Torgoman, said in a press release that this agreement comes within the framework of an ongoing review and evaluation of Auerbach Grayson’s partnership network that spans more than 125 countries.

Such a review comes in the context of Beltone Financial’s current and future strategy to provide the best investment opportunities in promising and emerging markets to its clients.

Moreover, Auerbach Grayson has recently expanded its business to include high-volume transactions in the US and worldwide markets and adopted automated trading systems.

In the future, Auerbach Grayson will be able to expand in the field of asset management and investment banking in many markets after Beltone Financial Holding acquired 60% of the company.