clipped from news.defaultrisk.efinancialcareers.comeFC Briefing: Dubai, Mumbai, Hong Kong
May 28 2008Lehman gears up for Middle East growth, but downsizes elsewhere. Credit Suisse relocates global FIG head to Hong Kong, and launches an onshore wealth management operation in India. Thomson Reuters merger said to cost 1,500 jobs. JPMorgan reportedly let go some 200 investment bankers due to market conditions, not the Bear Stearns takeover.
Lehman Brothers announced its second top-level Middle East appointment in a month, naming Philip Lynch as chief executive officer for the Middle East and North Africa. Lynch, who co-led Lehman's equities business in Europe and the Middle East, will relocate from London to Dubai. The other equities co-head, Rachid Bouzouba, was named sole head of equities for Europe and the Middle East. Current Middle East chief Jameel Akhrass becomes vice chairman for the Middle East and North Africa, but remains Middle East investment banking chief.
Charminar Express
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