London banks go Middle East
12/09/2008
London’s big investment banks are dramatically stepping up their presence in the Middle East in an effort to seek new clients.
While the choices are rarely as stark as “move to Dubai or be fired”, big bank employees, from managing directors down to young analysts, are being encouraged to consider a stint in the Gulf or nearby countries.
Many are jumping at the chance. Some are simply excited about getting into an area where business is hot. Others are capitalising on family connections to the area, or language skills that give them an edge.
Although the numbers do not compare with the tens of thousands of people losing their jobs in London and New York, virtually all banks are beefing up their Middle Eastern presence.
