Saudi Arabia is transferring $27bn to the sovereign wealth fund to boost investments and diversify from oil.
Credit Suisse has hired Edwin Yeung from HSBC to set up a U.S. and European credit trading desk in Hong Kong.
Credit Suisse is seeking to secure a key banking licence in Saudi Arabia as part of plans to expand in the kingdom.
Oil and share prices rose after Opec members struck a deal to limit crude output for the first time since 2008, in an attempt to ease a global glut that has more than halved crude prices in the past two years.
The Middle East is made up of 17 countries, and whilst none of them are traditional footballing powerhouses, a number of them now boast some top players.
Wealth management firm Baird said Glen Clarke has joined its global investment banking business as a managing director in its global consumer team.
Top of the agenda.
Saudi Arabia hired HSBC banker Fahad Al Saif to start a debt management office that will be responsible for the kingdom’s first international bond sale, two people with knowledge of the matter said.