Who hired in the Middle East during May?

While a decent number of both local and international firms continued to open new GCC offices throughout May, the majority of hiring activity was restricted to internal promotions and additional responsibilities.

AB Capital, the investment banking division of Arab Bank Group, has gained a licence to operate in the Saudi Market. It will be headquartered in Riyadh and will offer investment banking and asset management services.

Abu Dhabi Commercial Bank has unveiled plans to launch a new Islamic finance company, which it says is down to the "large growth prospects of this sector". The new firm will have capital of Dh200m.

Al Jaber Holdings, an investment company run by women for women, has received approval from the UAE Central Bank and will begin trading shortly.

Arab Banking Corporation has hired Roy Gardner for the position of chief financial officer.

The Bank of New York Mellon has continued the expansion of its MENA treasury services team with the appointment of Soha Ali as relationship manager for North Africa, based in Cairo.

Barclays has given John Vitalo the position of chief executive of investment banking and investment management in the Middle East in addition to his responsibilities as CEO of Asba Capital in South Africa. He will split his time between Johannesburg and Dubai.

BDO International, the accountancy firm, has launched a new Middle East corporate finance practice and has opened an office in Dubai to act as a hub.

Burgan Bank, the Kuwaiti commercial bank, says it has recruited 18 graduates so far this year who are currently undertaking the firm's training scheme.

Citigroup has made two promotions within its securities servicing business in Dubai. Richard Street moves up to head of securities and fund services, Middle East, while Jason James takes the post of product head of issuer services for the MENA region.

EFG-Hermes has hired Philip Southwell as chief executive officer for the GCC countries excluding Saudi Arabia and has signalled its intention to expand in the region. He joins from Deutsche Bank in London. The bank has also taken on Hossam Yousef Radwan as CEO for its activities in Saudi.

Emirates NBD has recruited 50 staff for its new private banking division in a bid to capialise on their existing relationships with local entrepreneurs. It follows

some senior hires last month.

Investit, the business consultancy to the investment management industry, has opened an office in Dubai to expand its services into the MENA region.

Kohlberg Kravis Roberts has taken on Ford Franker, former US ambassador to Saudi Arabia, as a senior adviser.

Majid Al Futtaim Group has extended its financial advisory offerings to the institutional market with the launch of a new asset management function called, rather predictably, Majid Al Futtaim Asset Management.

Mashreq has opened a new country head office in Doha and says it has ambitious plans to expand across the region, including Qatar.

National Bank of Abu Dhabi has unveiled plans for a Hong Kong office as it looks to build its activities into the Asia-Pacific.

Nexus, the independent financial advisor, has grown its Middle East presence with a new Qatar office.

Putnam Investments has taken on Paul Harrison as senior vice president in the global institutional management group to look after distribution in the Middle East and Africa region.

Saxo Bank, the online trading and investment bank, has opened an office in the DIFC. This is the first venture for a Danish bank in the GCC and Saxo says it will expand into other financial centres in the region if this venture goes well.

VTB Capital, the Russian investment bank, has made its first foray into the Middle East with a new office in the DIFC. It says it will offer a wide range of investment banking services including advisory work on securities, derivatives and other financial products.