Recruitment levels in the Middle East financial sector last month hardly set the world alight. But, some firms have unveiled a string of hires, while others have suggested that expansion is back on the cards.

Al Masah Capital, the recently established alternative asset management firm, has taken on Akbaer Naqvi as an executive director, who is tasked with building the firm’s hedge fund business.

Arqaam Capital, the Middle East investment bank, has unveiled plans to start an equity research unit in Beirut, which will eventually employ 100 analysts – double its current capability in this area.

Apex Fund Services, the fund administration firm, has unveiled plans to kick-start an Abu Dhabi operation, in addition to its offices in Dubai and Bahrain.

BDO Bahrain, the accounting firm, has named Peter Petyt as partner in charge of corporate finance and management consulting.

BMI Bank, the Bahrain subsidiary of BankMuscat, has hired Jamal Ali Al Hazeem as chief executive officer. Andrew Bainbridge has moved into the position of group CEO and will oversee the bank’s expansion plans.

Citi has made a number of hires to bolster its Middle East presence. Zubaid Ahmad has joined as vice-chairman of its institutional clients group and will lead Citi’s global sovereign wealth fund coverage. Mike Pendill has also been named as head of its global subsidiaries group, based in Dubai, and is expected to bolster this division’s team in the future. Meanwhile, Farouk Soussa has joined the bank as chief economist for the Middle East.

Global Banking Corporation, the Bahraini institution, has named Ahmed Al Mahmood joins as Sharia Reviewer within its Islamic finance supervisory board and Laeeq Ahmad Hussain has joins as head of internal audit.

HSBC has hired Munish Sahrawat as chief operating officer for its Oman operation. He replaces Nancy Dickinson, who has relocated to Dubai.

Partners Group, the private equity firm, has established a new office in the Dubai International Financial Centre as it makes its first foray into the Middle East.

Sharjah Islamic Bank has unveiled Rahma Mohammed Al Shamsi as its new head of the corporate banking group.

Standard Chartered has unveiled plans to expand its private banking operation in the UAE with the appointment of 10 relationship managers by the end of this year.

Zurich, the insurance firm that has been building its Middle Eastern presence over the last six months, has unveiled a string of new hires. In the general insurance division, David Breton joins as head of strategic marketing and business development and Michael Mansour is the new regional manager, bank distribution and affinity. Within the global corporate division, Glenn Doan will manage the risk engineering team, Hassan Kaissi joins as head of customer and distribution management, Daniel Morrison becomes underwriting manager for marine, Marline Nehme is senior casualty underwriter and Tejal Bartlett is the new underwriting manager for onshore energy property.