Executive job update (02/10/07)

Principal Search opens new office opening in Dubai

Financial services headhunting firm Principal Search today announced the strengthening of its presence in the Gulf region with the opening of an office in Dubai. In the last two years Principal Search has placed senior investment bankers and teams in Dubai, Bahrain, Kuwait, Saudi Arabia, Qatar and Turkey as well as filling numerous senior management positions throughout the MENA region including the Chief Executive of the International Mercantile Exchange in Qatar.

The new Dubai office will be led by Adam El-Balawi, who has significant local experience recruiting senior level executives in the MENA region. Having spent many years in the area he has a clear understanding of the business culture, the competitive landscape and the Gulf's evolving position in global financial markets. Taru Oksman-Ison, global head of Emerging Markets, outlined the firm's strategic growth plans and commented, “We already have a significant track record in the Gulf as a leading provider of high level search in all asset classes including M&A, equity and debt capital markets, fixed income and the fast growing Islamic finance market, and the new office will act as central hub for our activities across the region.”

Mark Swan, who heads the firm's MENA business from Istanbul added: 'The strategic decision to open in Dubai, and to strengthen our presence across the Gulf, is driven entirely by client demand as the leading banks, financial institutions and major corporates extend their infrastructure across the region.”