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CS – More bad news in the Middle East

CS – More bad news in the Middle East

Credit Suisse’s business in the Emirates is collapsing more and more: other bankers will no longer agree to move to UBS.

HSBC, Deutsche Bank and now Shuaa Capital PSC, headquartered in Dubai: in the past few days and weeks they have all attracted experienced bankers from Credit Suisse’s (CS) business in the Middle East.

like Agency “Bloomberg” I mentioned, since last May, the financial store has been able to lure experienced staff away from the Swiss bank. However, these are investment bankers, not wealth management employees.

In conversations with other client services bankers

So did Beam Wafiq bin Mansour, He earned a PhD in Computer Science with the rank of Managing Director to head up his own investment banking division. Worked in CS in the Middle East for 15 years. The competitor from Dubai was also able to participate Rustam Rezvanov Win another CS expert.

Three more employees from the Swiss institute will follow soon, Ray said, and talks appear to be taking place with other CS employees.

A tour of the stock exchanges

UBS announced that it will handle trading in CS. On the other hand, it can be assumed that the main Swiss bank would like to take over the investment bankers of its sick competitor in the Middle East. Thanks to higher energy prices, there is some movement in the businesses and capital markets of the region.

In contrast to Switzerland, for example, where not a single initial public offering (IPO) has been registered this year, the exchange’s new entrants are close together in Dubai, Abu Dhabi and Riyadh in Saudi Arabia.

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