Veteran of JPMorgan Chase & Co. Karim Tannir will serve HSBC Holdings in the Middle East as the bank expands its presence in a critical growth market.
According to BNN Bloomberg, Tannir will take on the newly established role of vice-chairman of global banking for HSBC in Turkey, the Middle East, and North Africa.
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Along with Middle East head Stephen Moss, Tannir will report to Greg Guyett, CEO of global banking and markets, and collaborate with Julian Wentzel, head of global banking for the region.
Following his return from leave, Tannir was named vice chair of JPMorgan’s Europe, Middle East, and Africa investment banking division in June.
He had previously served as one of the two senior country officers for the Wall Street bank in the area. Tannir is a 25-year JPMorgan employee who has been involved in many of the bank’s significant regional transactions, including Saudi Aramco’s initial public offering.
HSBC making moves across the Middle East
Furthermore, Fayez Khan, a former Goldman Sachs Group banker, became employed as a managing director in HSBC’s Middle East investment banking division in September.
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By GlobalDataThe announcements of their appointments align with a recent surge in deal activity in Saudi Arabia and the United Arab Emirates, where state companies are pursuing significant listings on regional stock markets and carrying out innovative acquisitions.
Additionally, the business has been expanding its wealth management division; it recently hired six Credit Suisse private bankers, including Aladdin Hangari, who is in charge of the Middle East and North Africa’s global private banking operations.
HSBC Asset Management (HSBC AM) also welcomed Pang Qi Lim’s hiring earlier this month as chief executive officer for Southeast Asia and Singapore, subject to regulatory approval.
