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FGB to focus on investment business

Abu Dhabi-based First Gulf Bank (FGB), which this week recruited former Standard Chartered banker Steve Perry, is planning further high-level hires as it focuses on winning more investment-banking business, Bloomberg has reported. "We are moving into being something that looks and feels a little bit more like an investment bank," said head of FGB's wholesale banking, Simon Penney. "We're focusing a lot more on originating from our client base, which we haven't done as much as we should have in the past."