Citi’s decision to relocate Alberto Verme, global co-head of investment banking, to Dubai, is the highest-profile move to the Middle East so far. He will be the most senior investment banker from a western institution in the region.
This is good news for Dubai, which is cementing its position as the region’s financial centre. The move also says something about Citi’s strategy. Vikram Pandit, chief executive at Citi, says the bank is "convinced of the region’s long-term and immense growth opportunities".
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