Swiss bank UBS has reportedly relocated the work of Alberto Palombi, head of global sovereign wealth funds (SWF) business, from London to Dubai.
Palombi joined UBS in 2012. Earlier to this, he served as a managing director for Bank of America Merrill Lynch in Dubai.
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The move comes as deals in the Middle East region are picking up as financial markets improve and economic growth accelerates in Gulf countries.
In April last year, UBS slashed about 10 investment-banking jobs in Dubai.
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