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Credit Suisse has hired Ahmed Badr as head of equities for the Middle East and North Africa based in Riyadh as the investment bank shifts operations away from Dubai.

Badr starts with immediate effect, according to an internal memo seen by Bloomberg last week and confirmed by Sofia Rehman, a spokeswoman for Credit Suisse in London.

Wafic Nsouli, Badr’s predecessor, left the bank this week, said a person familiar with the matter, asking not to be identified as the news hasn’t been made public.

In the meantime, UBS has appointed Sam Kendall as global head of the equity capital markets division, according to an internal memo obtained by Bloomberg News.

Kendall, who assumes the newly created post immediately, will report to David Soanes, London-based global head of global capital markets, and Matthew Hanning, head of investment banking for the Asia Pacific region, who is based in Hong Kong, according to Mark Panday, a Hong Kong-based spokesman at the bank who confirmed the content of the memo.

Finally, Bloomberg also reports that UBS has appointed investment banker Greg Kennedy to lead its financial institutions group in the Americas.

Kennedy, who has worked at Barclays Plc (BARC), will join the Zurich-based firm in March, UBS said in a memo to employees. He will be based in New York, reporting to Steve Cummings, who leads the corporate client solutions unit in the Americas.

Credit Suisse Names Badr Middle East Equities Head in Dubai Cull

UBS Names Kendall Global Head of Equity Capital Markets

UBS Adds Kennedy to Lead U.S. Financial Institutions Banking

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