Credit Suisse to shift focus from Dubai to Qatar, Saudi Arabia
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Credit Suisse to shift focus from Dubai to Qatar, Saudi Arabia

Credit Suisse to shift focus from Dubai to Qatar, Saudi Arabia

Credit Suisse Group, whose second-largest shareholder is the Qatar Investment Authority, is cutting its investment banking business in Dubai to focus on Qatar and Saudi Arabia, Bloomberg has reported, citing a person familiar with the matter. Two bankers will move to Doha from Dubai as part of plans to shift the regional investment banking department headquarters to Qatar, the person said. The bank will also cut about three positions in Dubai and transfer another as it moves its equities business to Riyadh, the person said. The bank announced in November 2011 that it was planning to expand in Qatar this year by providing asset-management services to local and international investors.

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