Principal Search boosts Middle East presence with new office opening in Dubai

In the last two years Principal Search has placed senior investment bankers and teams in Dubai, Bahrain, Kuwait, Saudi Arabia, Qatar and Turkey as well as filling numerous senior management positions throughout the MENA region including the Chief Executive of the International Mercantile Exchange in Qatar.

Principal Search was recently voted the top specialist small firm in the 2007 'Executive Grapevine' survey, sponsored by The Sunday Times, and is a leading global provider of senior level executive search across key financial services sectors. The firm's client base is primarily the global investment banks, international and local financial institutions, investment funds, international exchanges and the oil and energy majors.

The new Dubai office will be led by Adam El-Balawi, who has significant local experience recruiting senior level executives in the MENA region. Having spent many years in the area he has a clear understanding of the business culture, the competitive landscape and the Gulf's evolving position in global financial markets.

Taru Oksman-Ison, global head of Emerging Markets, outlined the firm's strategic growth plans and commented:

"We already have a significant track record in the Gulf as a leading provider of high level search in all asset classes including M&A, equity and debt capital markets, fixed income and the fast growing Islamic finance market, and the new office will act as central hub for our activities across the region. As a specialist financial services search firm with a dedicated emerging markets team and particular experience across the MENA area, we have unique access to the key market data and research to access the highest calibre individuals worldwide."

Mark Swan, who heads the firm's MENA business from Istanbul added: "The strategic decision to open in Dubai, and to strengthen our presence across the Gulf, is driven entirely by client demand as the leading banks, financial institutions and major corporates extend their infrastructure across the region. Private sector investment coupled with government deregulation provide ideal conditions for growth, and experienced Arabic bankers and senior executives are highly sought after across all asset classes.