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HSBC has announced the appointment of Karim Tannir as the new vice-chairman of global banking for the Middle East, North Africa (MENA), and Turkey regions, a move that underscores the bank’s strategic focus on these dynamic markets. Tannir, who has a notable track record with major deals including Saudi Aramco (TADAWUL:)’s initial public offering during his tenure at JPMorgan, will now collaborate closely with Julian Wentzel and report to Stephen Moss and Greg Guyett.
Tannir’s career milestones include his return from a sabbatical in June 2023 to assume the role of vice chair at JPMorgan’s EMEA investment banking sector. His expertise is expected to further enhance HSBC’s capabilities in the region, following a series of significant developments. In recent weeks, HSBC has cemented its position as a top underwriter for regional IPOs, notably handling Investcorp Capital in Abu Dhabi. The bank has also expanded its wealth management services by bringing on board six former Credit Suisse bankers, including Aladdin Hangari.
These moves come during a period of intense activity in the region’s financial industry, characterized by bold acquisitions by state entities in the UAE and Saudi Arabia. The recruitment drive at HSBC also coincides with the departure of JPMorgan’s UAE country officer for Jefferies Financial Group Inc., reflecting the ongoing talent shifts among top financial institutions.
The addition of Fayez Khan in September 2023 as managing director for Middle East investment banking from Goldman Sachs further demonstrates HSBC’s commitment to investing in its team and enhancing its service offerings to clients across these important markets.
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