Flinos founded C.H. Stirling two years ago.
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
These are uneasy times for bankers in the Middle East.Run by two ex-Merrill Lynch bankers, the firm advises local governments and other family businesses on restructurings and M&A.Rody Yared and Samer A. Katerji, former bankers from JPMorgan Chase & Co. and Citigroup Inc. started Trussbridge Advisory DIFC Ltd. Albert Momdjian, who handled UBS Group AG's wealthiest clients in the Middle East, quit last year to start an investment company in Dubai.As of now, they're a small outfit, making diversions easy to control: Flinos and Aouad founded the firm with one other banker and have a total staff of five. Their plan is to grow to about 20, including nine more bankers (resumes from ex-Merrill people welcome).In M&A and equity capital markets, they garnered about 4 percent of the fees in 2015, compared with 5 percent last year and 6 percent in 2013, according to data from New York-based research firm Freeman & Co.Dubai's DFM General Index has lost about 15 percent this year, property prices are falling and lenders such as National Bank of Abu Dhabi PJSC have lost billions of dollars in government deposits.Deutsche Bank and Standard Chartered are among banks eliminating about 30,000 positions.
FOLLOW THIS ARTICLE