JP Morgan has hired Shakir Iqbal as head of cash equity sales for the Middle East and North Africa (Mena) and frontier markets, the US bank said on Thursday.

Iqbal, previously director of Mena and frontier market equity sales at Bank of America Merrill Lynch, will be based in Dubai and report to the head of Mena markets, Khaled Hobballah, as well as the co-heads of Europe, Middle East Africa (EMEA) international cash equity sales.

Earlier in June sources said that the head of Mena equities at JP Morgan's brokerage department resigned to join Egypt's EFG-Hermes Asset Management and that his replacement would be hired by the end of the month.-Reuters