These two investment banks are HIRING in the Middle East

As investment banks cut back, some good people come on the job market and there’s never any shortage of firms willing to indulge in some opportunistic hiring. In the UK, this is largely boutique firms, while in the Middle East regional banks are proving to be a safe haven for some big deal-makers.

However, it’s also worth noting that amid the retrenchment, some of the larger players are continuing to build in the Middle East. The first is J.P. Morgan, which has just named Ahmed Saeed, formerly a managing director in Nomura’s Dubai investment banking division, as head of its Middle East business focusing on public sector clients.

This is the latest in a series of hires this year including Rayan Fayez as its new head of investment banking and co-chief executive of Saudi Arabia and Declan Hegarty as managing director at its global corporate bank in the UAE. We also understand that it’s been hiring at a more junior level.

The second bank indulging in hiring in the Middle East is, perhaps not surprisingly, Standard Chartered. Last week it unveiled Hussam AlFaqir as head of origination and client coverage and co-head of wholesale banking in Bahrain.

Again, this is the latest in a number of significant hires for its wholesale banking division. Steve Perry joined as head of capital markets for the Middle East, North Africa and Pakistan in September, Bejan Roohi as head of client coverage for Abu Dhabi in July and Morad Mahlouji as regional head of origination and client coverage in May.

Given that most investment banking teams in the Middle East are small, and getting smaller, this hiring activity is not insignificant.