Dubai has told international bankers that it was gearing up for another boom and did not regret the pro-growth policies which brought it to the brink of default five years ago. It appeared to win the endorsement of many of the bankers.
Years of quiet deal markets in Europe have left a generation of junior investment bankers with little opportunity to cut their teeth, and, with many senior staff let go, banks are finding themselves short on experience as business stirs again.
A drop in European takeovers has depressed global merger and acquisitions (M&A) activity so far this year, but bankers see activity picking up as a rally in stocks and bonds helps compensate for a prolonged euro-zone recession.
Abu Dhabi's review of state-linked firms, which has involved the government tightening its purse strings and holding off key projects, is leaving investors and stakeholders guessing on how future business deals will unfold in the wealthy emi
UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for investment banks to turn a profit since the financial crisis.
In the high-tech, gadget-addicted world of investment banking, layoffs are becoming more complex and brutal as firms try to stop sensitive data leaving with employees, said a report.
Sackings are usually swift, with bankers escort
Qatar is luring high-profile bankers away from foreign firms by offering better pay and prospects, as the cash-rich country builds the talent needed to expand its financial footprint across the region.
Morgan Stanley and Goldman Sachs Group have lost their two top Qatar executives to local firms, three sources said on Monday, as the gas-rich Gulf state lures back high-profile citizens with better pay and prospects.
Research In Motion (RIM) has hired bankers for a far-reaching strategic review and to look for partnerships as the BlackBerry-maker warned it would likely report a shock fiscal first-quarter operating loss.
Abu Dhabi-based International Petroleum Investment Co (Ipic) has approached banks to refinance its $850 million syndicated loan from 2009, and the new deal is expected to establish a much-needed pricing benchmark for the region, bankers said.