Bloomberg News

UBS Said to Hire Four Bankers From Credit Agricole in Dubai

October 06, 2011

Oct. 6 (Bloomberg) -- UBS AG, Switzerland’s biggest bank, is hiring four bankers from Credit Agricole SA’s investment banking unit for its corporate advisory group in Dubai, two people familiar with the matter said.

UBS is recruiting Kanhaiya Rathi, Kawtar Benkhraba, Pravin Chelluri and Rami Barazi from Credit Agricole, France’s third- largest bank by market value, one of the people said. A secretary from Credit Agricole will also join UBS, the person said.

The bankers will report to Albert Momdjian, previously head of Credit Agricole’s investment banking for the Middle East and North Africa, one of the people said. Momdjian joined UBS in August as head of its ultra-high net-worth business and head of corporate advisory group for the MENA region.

A UBS spokeswoman, declining to be identified because of company policy, confirmed the moves. A spokesperson for Credit Agricole wasn’t immediately available to comment.

Credit Agricole CIB, the bank’s corporate-and investment- unit said Sept. 27 that it will guide Gulf-region clients on mergers and acquisitions from Paris because it doesn’t plan to keep an advisory team in the area.

Reuters yesterday reported UBS had hired five investment bankers from Credit Agricole, without giving further details.

--Editors: Shaji Mathew, Claudia Maedler

To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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