DUBAI: Swiss bank UBS has named Matthew Odgers as head of itsMiddle East, North Africa (MENA) investment banking department, a source familiar with the matter said.
Odgers, a managing director with UBS who moved toDubaiin 2008 fromLondon, will be in charge of the bank's advisory and client coverage business in the region, the source said speaking on condition of anonymity as the matter has not been made public yet.
Chris Niehaus, who relocated to London earlier in the year, previously headed up the investment banking business in the region, including the bank's equities trading and fixed income business.
That business has now moved under Tony Illiya, who is the chief executive for the bank's entireMiddle EastandNorth Africaregion, leaving Odgers in charge of coverage and advisory, the source added.
UBS, which suffered massive losses during the credit crisis and a $2 billion rogue trading scandal, is retooling its investment banking and trading business to take less risk and to concentrate on supporting the global personal wealth business.
Last year, the bank poached Credit Agricole's topMiddle EastandAfricainvestment banker, Albert Momdjian, for a senior job at its emerging markets wealth management division.
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