JPMorgan, Saudi Aramco’s longstanding commercial banker, is reportedly in pole position to be a global coordinator and bookrunner for the planned sale of a 5% stake in company in 2018. HSBC is tipped for an underwriting role on the listing, because of its ability to tap Asian investors due to the bank’s origins in Hong Kong, and its longstanding presence in the Middle East. Saudi Aramco was scheduled to present a plan about its flotation, including bank appointments, to King Salman bin Abdul Aziz al-Saud for approval at the cabinet’s weekly meeting on Monday, according to one source. The decision on key bank appointments is expected to be taken then, although the timing could slip. (Financial Times)