Published: April 8, 2013
Investment banking division gets new head.
Qatar’s QInvest has appointed Michael Katounas its new head of investment banking. He comes to the role after eight years in the Credit Suisse investment banking team, where he rose to the level of director based in Dubai.
Credit Suisse has downsized its Dubai investment banking team in recent months and moved many of its remaining staff to Qatar. It views private banking, rather than investment banking, as its new engine of growth and is looking to reduce costs by focusing on niche markets.
Qatar’s sovereign wealth fund is the second-largest shareholder in Credit Suisse after Saudi Arabia’s Olayan Group.