Investment firm Rothschild has hired a former banker at Goldman Sachs Group for M&A deals in the Middle East.

Former Goldman Sachs Group executive Ibrahim Lamrini is expected to join as a senior director of the boutique bank’s mergers and acquisitions division, Bloomberg reported, citing unnamed sources.

Lamrini worked as executive director for 13 years at Goldman Sachs until May 2021, primarily in the region, according to his LinkedIn profile. 

While he was with the bank, he had participated in several deals, which include Amazon’s acquisition of an e-commerce firm in the Middle East, Bloomberg reported.

Rothschild officially entered Saudi Arabia late last year and was expected to double its operations in the kingdom over a short period.

Saudi Arabia, along with the UAE and Egypt, has dominated the M&A market, with the three states accounting for 89% of the 632 deals recorded in the Middle East last year.

(Writing by Cleofe Maceda; editing by Seban Scaria)