HSBC Said to Lose Second Dubai Bond Banker to Wall Street Rival

Article content(Bloomberg) — A senior Dubai-based bond banker at HSBC Holdings Plc is moving to Bank of America Corp., marking the second departure from the British lender in recent days as rivals continue to bolster staffing despite uncertainty stemming from the Iran war.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentKhaled Darwish, HSBC’s head of debt capital markets for Central and Eastern Europe, the Middle East and Africa, will join Bank of America as head of Middle East and North Africa corporate banking in Dubai, according to people familiar with the matter, who declined to be identified as the information is private.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentHis departure comes days after Nour Safa, HSBC’s head of debt capital markets for the Middle East and North Africa, left to join and Goldman Sachs Group Inc. in Dubai.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentA representative for HSBC said the bank was “committed to attracting and retaining talent as part of HSBC’s high-performance culture.” Darwish couldn’t immediately be reached for comment, while a spokesperson for Bank of America declined to comment.Article contentIn recent months, HSBC has scaled back parts of its investment banking operations and cut headcount in Europe and the Americas, though the Middle East remains a core area of focus.Article contentThe bank is consistently among the top bond arrangers in the region, according to data compiled by Bloomberg. While the war has largely shut Gulf public bond markets — among the most active globally in recent years – governments and banks have raised more than $7 billion through private placements.Article contentRivals, too, have increased local headcount and added new offices in recent years, and top executives have been unanimous in their support for the region since the conflict began.Article contentStill, talks between the US and Iran over the weekend ended without an agreement, and any renewed escalation could prolong a war that’s already led to thousands of deaths and roiled energy markets. Article contentIn the war’s early days, many firms offered Gulf staffers the option to work remotely. Some relocated, unnerved by shelter-in-place warnings and frequent interceptions of missiles and drones, though a few are now weighing plans to return.Article contentTrending Subscriber only. Why Chinese 'knock-down' car kits could spell catastrophe for Canadian automakers Subscriber only Electric Vehicles Posthaste: Canadian dollar is being dumped from FX reserves at a record pace. What's going on? News Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think Real Estate GFL nearing deal to buy Secure Waste for over $6 billion News Here’s how investors can position themselves in the face of head-spinning swings in oil prices Investor Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Subscriber only. Why Chinese 'knock-down' car kits could spell catastrophe for Canadian automakers Subscriber only Electric Vehicles Posthaste: Canadian dollar is being dumped from FX reserves at a record pace. What's going on? News Why timing the bottom of Canada's roller-coaster real estate market may be harder than you think Real Estate GFL nearing deal to buy Secure Waste for over $6 billion News Here’s how investors can position themselves in the face of head-spinning swings in oil prices Investor