Bloomberg writes: After a decade of dealmaking at Morgan Stanley in the Middle East, Peter Fort swapped
International Financial Centre for a career promoting investment into one of
the United Arab Emirates’
Fort, 40, is among a rising number of Persian Gulf expat bankers starting second careers with U.A.E. firms as lenders based in
London, New York and Zurich scale back under
pressure to boost capital buffers and profit margins. The 10 biggest investment
banks, including JPMorgan Chase, Deutsche Bank AG and Citi have lost about 11,000 front-office staff in
the past two years, analytics firm Coalition said last month….