Bank of America's Merrill Lynch unit is hiring the head of VTB Capital’s Middle East cash-equity sales and sales trading in Dubai, Karim Nsouli, two people familiar with the matter said.
Bloomberg News reports that Nsouli will take over from Veer Ramlugon, who handled Middle East equity and equity-derivatives for BofA Merrill Lynch in Dubai, the people said, asking not to be identified because the matter is private.
Nsouli joined VTB Capital more than two years ago as part of the company’s plans to boost its MENA investment-banking business. Prior to that, he was head of MENA sales trading at Credit Suisse.
In the meantime, Bloomberg also reports that Fang Fang, chief executive officer of investment banking for China at JPMorgan, is leaving the bank, a person with knowledge of the matter said.
Fang, 48, told the New York-based company that he plans to retire and spend more time with his family, the person said today, asking not to be named as the matter is confidential. Fang submitted his resignation last week, another person with knowledge of the matter said.
Finally, Reuters reports that Clifford De Souza, the principal executive officer of Mitsubishi UFJ's investment banking arm, is to leave his role at end of March, a source familiar with the matter said on Friday.
The reason for De Souza's departure was not known and a replacement has not been named.