JP Morgan has hired Fahad Al Deweesh as head of its investment banking coverage in Saudi Arabia at a time when the kingdom is in the process of opening its markets to foreign investors, and by extension to the international banks that service them.

Al Deweesh was previously at Standard Chartered, where he was head of the capital markets business in Saudi Arabia.

Earlier today, JP Morgan said it has hired Majed Al Mesmari as head of investment banking coverage for the United Arab Emirates.

Al Mesmari joins from Rothschild, where he spent more than five years as a director of global financial advisory. Prior to that, he worked at HSBC within the global capital markets group. He began his career at Etisalat, a UAE-based telecoms company.

The new hires will report to Karim Tannir, who oversees investment banking for theMiddle East and North Africa region. - TradeArabia News Service