Some high profile figures in the Middle East financial sector made the move to rivals in June, but it was the wealth management sector which was the most active.

Bank Sarasin-Alpen, the private bank, has made a series of new appointments for its Qatar office. Sulaiman Yousif Salhi will lead the team, while Meenal Mahajan and Rasha Badawi join as client relationship managers.

Banque Saudi Fransi, Caylon’s Saudi-based affiliate, has hired John Sfakianakis as chief economist covering Saudi Arabia and the Middle East. He joins from SABB bank.

BDO International, the accountancy firm, has opened a new office in Dubai to focus on corporate finance. John Breach, corporate finance partner at the firm, has relocated from London to lead the new office.

Beltone Financial, the Egyptian investment bank, says it has plans to increase its Middle East presence, saying it would be in “at least one more country” within the next 12 months.

Capital Investment Company has hired Eyad Marshall as its new managing director. He joins from Julius Baer.

Credit Suisse, which previously only offered private banking services in Qatar, has expanded its operation to encompass asset management and investment banking. It hired Aladdin Hangari as head of the Doha office.

Doha Exchange in Qatar has a new CEO in the form of Andre Went, who moves from NYSE Euronext where he was managing director.

HBG Holdings, the GCC-based private equity firm, is apparently in expansion mode. Having taken on Michael Toxvaerd as executive director to lead its push into the UK, the company has also announced its intentions to recruit locally. It didn’t specify numbers, but said it was looking to hire investment professionals to “drive its expansion plans in the region”.

Investcorp, the Bahraini private equity and alternative asset management firm, has appointed Mohammed Al-Shroogi as head of its Gulf activities. He was previously managing director of Citi’s Middle East operations.

Mumtalakat, the Bahraini sovereign wealth fund, has made three new additions to its management team. Serge Lepine joins from the Abu Dhabi Investment Council to take the post of chief investment officer, John Knight is the new COO and Damien Balmet has been appointed vice-president corporate development. Last year, it said it intended to double its investment team.

Rasmala, the regional investment bank, has opened an Abu Dhabi office and says it intends to recruit 15 staff for it. This follows a similar move in Jeddah, Saudi Arabia.

The Royal Bank of Canada has made its seventh high-profile wealth management hire of the last 12 months with the appointment of Vineet Arora for its Dubai office. He joins from IIFL Private Wealth Management, and previous recruits have come from HSBC, Citi and UBS.

Standard Chartered has hired David Law as managing director and regional head of origination and client coverage for Mena. It’s a coup for the bank – Law moved from London to Dubai last year to oversee Morgan Stanley’s investment banking operations in the region and is considered something of a rainmaker.

VTB Capital, the Russian investment bank, has formally kick-started its new Dubai operation, which will initially house 10 staff.

Zurich Insurance Company, has gained a licence to operate in the DIFC and says it has plans to expand in the region going forward.