Bloomberg News reports that the New York-based bank named Majed Al Mesmari, previously at Rothschild, as head of investment banking coverage in the United Arab Emirates, it said in a statement Wednesday.
Fahad Al-Deweesh has joined from British lender Standard Chartered to lead investment banking coverage in Saudi Arabia, a spokeswoman for the bank said separately. The new hires will report to Karim Tannir, who oversees investment banking for the Middle East and North Africa.
JPMorgan is expanding its presence in the Middle East, hiring executives from banks including Nomura International Plc and HSBC Holdings Plc. It appointed Asif Raza to lead its corporate banking business for the Middle East and North Africa in March, and promoted Rayan Fayez to senior country officer for Saudi Arabia in December.
Al Mesmari worked as a director at Rothschild’s global financial advisory business for more than five years. Al-Deweesh was most recently the head of Standard Chartered’s capital markets business in Saudi Arabia.
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