GF
Company: BNP
Should you be looking to land an opportunity in Iraq or Libya?
It wasn’t so long ago that suitcase bankers from international organisations were flying in and out of Dubai, Qatar and Abu Dhabi to take advantage of the nascent, and growing, deal flow in the GCC. While these are still officially ‘frontier’ markets, bankers are now being transported to decidedly more risky locations – Iraq and [...]
Credit Suisse is expanding into asset management in Qatar; other firms are likely to follow
Qatar may be, according to some reports, the most promising financial centre in the GCC, but it has long-maintained that its primary aim is to become the region’s main centre for asset management. International firms seem to be finally acknowledging this. Credit Suisse, which has won many large regional investment banking deals through its connection [...]
International banks’ EMEA graduate hiring plans for 2011
No one is about to deny that it’s a tough year for graduates with aspirations to break into investment banking. We’ve mentioned previously that a disproportionate number of full-time vacancies (particularly in the front office) have been allocated to this year’s interns and that fears that the current problems could extend into 2012 are making [...]
International banks have started making redundancies in the Gulf: which firms are the safer bets?
Inevitably, it’s started happening; international investment banks that have been making thousands of redundancies globally have started trimming their Middle Eastern teams. Nomura has shut its regional equity research team, while both Deutsche Bank and Credit Suisse have laid of senior MENA-focused research analysts, according to Reuters. We also understand that UBS has made three [...]
Have expat bankers in Bahrain finally decided that it’s better to stay?
Despite protestations to the contrary, international financial services firms have started shifting their Middle East HQs from Bahrain to Dubai. First it was asset manager Robeco, which is moving just 12 staff to the DIFC by year-end, and now French bank Crédit Agricole is relocating its 60 or so employees from Bahrain to Dubai. This [...]
Arguably the safest banks to work for in the Middle East across M&A, ECM and DCM
Times are tough for investment bankers working in the Middle East. The total fee pot has fallen by nearly 50% on last year, according to new Thomson Reuters figures, and the first half of 2010 was hardly a stellar period. As we’ve mentioned previously, there are already mutterings about redundancies within the relatively small regional [...]
Even if expats leave, Bahrain’s banking sector may be OK
The ongoing problems in Bahrain may have seen something of an exodus of expat bankers, but it’s questionable whether this is creating any real problems for the industry. Unlike the UAE, where the proportion of Emiratis working in financial services is relatively small, Bahrain’s banking sector is predominantly staffed by locals. In an interview with [...]
GUEST COMMENT: The poaching frenzy in Gulf wealth management
Wealth management has stood out as being something of a hive of recruitment activity within the Middle East financial services sector recently. However, with talent on the ground limited, many banks are chasing the same pool of people. The motivations for international banks increasing their wealth management presence in the Middle East are obvious: wealth [...]
Banks face an uphill struggle convincing staff to stay in Bahrain
International banks with a large presence in Bahrain are reiterating their commitment to the kingdom after the recent unrest, but face an uphill struggle keeping hold of staff who are either relocating or being targeted by other firms in Dubai, Qatar and Abu Dhabi. Bahrain may have just lifted the three-month state of emergency law [...]
Even if banks aren’t moving out of Bahrain, a lot of bankers are
Bahrain’s banking sector has reason to be worried. While industry bodies play down an exodus of institutions from the kingdom, an increasing number of individuals are considering a move to Qatar or Dubai. The likes of BNP Paribas, Citigroup and HSBC lifted staff out of Bahrain during the height of the troubles, there’s a chance [...]
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