Natixis, a France-based corporate and investment bank arm of Groupe BPCE, is reportedly planning to boost staff in the Middle East by 50% this year.
The move comes as the lender seeks to increase revenues from outside its home market that has suffered sluggish growth and the euro zone crisis, reported Reuters.
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Additionally, the bank has also reduced costs as part of its 2014-2017 strategic plan.
Olivier Perquel, head of financing and global markets at Natixis, said that the firm has expanded its business in Latin America and Japan last year and is now planning to invest in the Middle East region this year.
Perquel added that Natixis currently has around 40 staff in Dubai, as well as a small representative office in Egypt, according to Reuters.
Simon Eedle, head of the Middle East for Natixis, said that the firm is seeking to expand its presence in areas including capital markets, trade and Islamic finance and coverage bankers to manage relationships directly.
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By GlobalDataThe publication quoted Perquel saying: "We are pushing very hard all of our core businesses, with the idea that we want to have product people locally. We want to have one or two product specialists in each of the areas that we want to push here adding that infrastructure, aircraft finance and energy and commodity sectors were a focus."
