UBS has appointed Per Larsson, the chief executive of Borse Dubai, as its head of investment banking in the Middle East and North Africa.
The hire comes a week after UBS said it had gained conditional approval to operate from Saudi Arabia. It has also applied for a licence to open in Qatar.
Larsson will join UBS at the beginning of October. He takes over from Peter Burnett, who is based in London and will take on a "new opportunity" within UBS.