UBS Group AG has made major appointments to lead its dealmaking business in the Middle East, as it seeks to strengthen its operations in the region, according to a Bloomberg report.

A Goldman veteran, Hazem Shawki, has been named to head the Zurich-based company’s Middle East and North Africa investment banking, as well as global banking and markets, the news agency reported, citing unnamed sources.

Shawki is the Managing Director of Credit Suisse, according to his LinkedIn profile. He had worked as Head of Investment Banking in MENA for Goldman Sachs for about 8 years.

Last June, the Swiss lender completed its acquisition of Credit Suisse, merging the two firms to operate as a consolidated banking group.

Deutsche Bank’s Bassel Zaouk is also reportedly expected to join the company in a senior role, while dealmaker Tara Luthra, who had worked with Morgan Stanley, will lead global banking for the Middle East.

Zaouk is the Managing Director and CEO of Deutsche Securities Saudi Arabia, while Luthra holds the position of Managing Director, Head of MENA – Private and Growth Markets at Credit Suisse, according to their LinkedIn profiles.

UBS had been looking to revive its dealmaking activity in Dubai after halting it in 2022, Bloomberg reported previously.

(Writing by Cleofe Maceda; editing by Brinda Darasha)