UBS hires Borse Dubai chief

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.