Saturday, 21st November 2009

 

21 October 2008 - Nitin Srivastava

Merrill eyes wealth market in the Middle East

Merrill Lynch plans to expand its operations in the Gulf, a region that may be “somewhat protected” by its oil resources amid the global financial crisis, chief executive John Thain told reporters in Dubai on Monday, according to a Bloomberg report.

The US bank had recently added five new financial advisers to its wealth management division in Riyadh, Saudi Arabia and is expected to begin operations in Qatar and Kuwait before the end of the year, Fares D. Noujaim, Merrill's president for the Middle East and North Africa, said.

Tags: John Thain , Merrill Lynch

Read the original

Most Read

  1. Colonel Gaddafi's son buys £10m London property
  2. Lombard Odier hires from Coutts
  3. Comment: Prince William seals the ascent of hedge funds
  4. Citi Private Bank poaches senior Merrill executive
  5. How The Rich Are Different: Recession Hits Investment Psyche

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Diary: Utopia for Yacht Lovers

Looking to get more from your yacht? Why not share it with others?

More from Products and strategies

  1. Gold demand drops 34% as economy brightens
  2. Index Trackers Take Flight
  3. Family-run businesses outperform their public rivals
  4. Cash floods UK property managers
  5. Cohen launches ethical property vehicle

Related Content

  1. McCann confirmed as head of Bank of America's financial advisory arm
  2. Merrill Lynch hires ultra-HNW specialists

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347