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with IPOs, M&A driving dealsJPMorgan Chase & Co. sees initial public offerings and M&A driving Middle East deals this year in what the U.S. bank expects to be its busiest in the region. HSBC Holdings Plc-backed Saudi British Bank and Alawwal Bank, in which Royal Bank of Scotland Group Plc owns a 40 percent stake, started merger talks in April, but haven't completed a deal.In Saudi Arabia, where JPMorgan has about 70 people, the bank is setting up a custodian business for equity trading as the kingdom's stock exchange forges ahead with efforts to win emerging markets status this year.
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