Alantra said in a statement that it was in the process of interviewing candidates and hoped to announce new hires before the end of the year.
Led by Saad Ashraf as senior executive officer and managing partner, the team will focus on healthcare, real estate and consumer goods, Alantra’s spokesperson told Reuters.
The investment bank said it also domiciled and relocated a significant part of its global marine and shipping investment banking sector team to Dubai.
Other European investment banks have been beefing up their presence in the Gulf where oil companies and governments seek to attract foreign capital and diversify revenues.
Alantra’s Dubai unit obtained approval to launch investment banking services from the regulator overseeing the Dubai International Financial Centre (DIFC), Dubai’s financial freezone, the DIFC and the bank said in a joint statement.
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