Welcome to this publication about Investment Banking in Dubai, Top Banks List, Salary and Jobs in Dubai banking system via Afrokonnect.
Investment Banking Jobs in Dubai
Should I give up my job in London or the United States and try my luck in the investment banking industry in Dubai instead?
Is it possible to advance one’s career and make a significant amount of money working in investment banking in Dubai?
Does Dubai provide any opportunities for those who want to leave the investment banking industry after beginning their careers there?
Right in this post, we will make an effort to address all of the issues that were raised above, as well as any more that may arise.
Investment Banking in Dubai – Market Overview
The Investment banking Jobs in Dubai
Investment Banking market in Dubai is developing, the majority of Dubai’s investment bankers focus their business on the MENA (Middle East and North Africa) area.
This MENA area encompasses over 20 nations in total including; Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Malta, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, United Arab Emirates, West Bank and Gaza, and Yemen.
The majority of business conducted in Dubai is focused on these nations.
Bulge Bracket Local banks often deal with transactions on a smaller scale, in contrast to the bigger deals that investment banks normally engage on.
The most successful investment banks in Dubai, including their subsidiaries and their local counterparts, operate in a wide range of sectors. The vast majority of it’s customers are holding companies, sovereign wealth funds, and other types of financial sponsors.
Majority of the transactions that take place in Dubai are, however, managed by investment bankers based in either the United Kingdom or the United States.
While the maintenance of positive client relationships is the primary focus of investment bankers in Dubai, Professionals in the United States and Europe are responsible for attending to the many technical aspects of the transactions.
You may want to revisit your selection if you have higher aspirations for personal development and improved professional opportunities. If, on the other hand, the amount of money is your primary concern, then you are heading in the proper direction.
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Investment Banking in Dubai – Services Offered
As is well-known, several of the world’s largest investment banks have local branches in Dubai, where they handle the city’s most important transactions.
Their knowledge is not only localized in Dubai; rather, it spans the whole world. As a result, we would investigate the capabilities and services provided by the investment banks located in Dubai locally. As was said up above, they are responsible for the following responsibilities:
Advisory Services for Corporate Finance
The regional investment banks provide a vast array of advisory services for corporate finance, including risk management, transaction structuring, capital structure, credit rating, and liquidity, amongst others.
Since the banks are dealing with transactions that are more limited in size and scope, they are friendly, service-oriented, and customer-centered.
Expertise in Mergers and Acquisitions
In order to reap the advantages of synergy, it is necessary for two or more organizations to combine their operations via the process of mergers and acquisitions.
They need the same level of knowledge that is provided by the local investment banks in Dubai. Due to the fact that they engage in mergers and acquisitions that vary in scale and character.
Many of Dubai’s smaller investment banks retain a primary concentration on the United Arab Emirates’ small and medium-sized businesses by providing corporate advisory services.
They provide a package deal that includes a variety of services, such as mergers and acquisitions services, equities research, and debt advice services.
One of the Most Essential Services Supplied by Investment Banks in Dubai is Private placements; It is among are among the most important services offered by investment banks in Dubai.
They facilitate the introduction of sophisticated investors to the firms and provide assistance to the companies, because of this, the firms are able to create profits from sales in a much shorter amount of time.
Structured Investments and Other Services
In addition, local investment banks in Dubai provide structured investments (either as a single asset or as a basket of securities) in addition to other individualized services.
The plan is to concentrate on small and medium-sized businesses with the goal of providing them with as much support as possible in terms of financing and financial consulting services.
This assistance will be provided on the home front as well as the international level. Aforementioned services could remind you of an international investment bank. On the other hand, there are two things that are distinct:
First, for these neighborhood investment banks, the connection is the most important element. And every transaction is completed with friendly camaraderie and a mutual confidence in one another.
Second, the primary objective of these smaller investment banks is to assist in the growth of medium-sized and smaller businesses.
List of Top Investment Banks in Dubai
Here are Best Banks in UAE | Top 10 International Banks in Dubai you can check out.
Investment banking Jobs in Dubai
There are four notable Middle Eastern investment banks outside of the Tier 1 group. In this article, we will take a quick look at each of them;
1. Rasmala Holdings Limited:
This is the largest Dubai investment bank. Rasmala first opened its doors in 1999. Rasmala has $1.2 billion in AUM and $500 million in CMV from capital market trades.
2. SHUAA Capital
The SHUAA was founded in 1979. SHUAA Capital’s AUM is now $232.23 million.
Additionally, it has provided small and medium-sized businesses with loans totaling roughly $1.23 billion.
For those interested in Middle Eastern investment banking, KFH is yet another household brand. KFH earned $3.18 million in 2016 and had $4,265.25 million in total assets.
4. Noor Capital:
Since its founding in 2005, Noor Capital has provided a variety of investment placement services, with a focus on the Middle East.
Noor Capital only accepts transactions between $5 million and $20 billion in size. Noor Capital has $500,000,000 in AUM (assets under management).
Investment Banking in Dubai – Recruitment process
The hiring process in Dubai is totally unique when compared to the standard procedures used in the United Kingdom and the United States of America.
And if you’re traveling from the United Kingdom or the United States to locate your origins in Dubai, things could seem challenging at first glance.
If you are interested in learning more about the application procedure in Dubai, the following is a guide that you may use;
Consider getting some work experience:
You should begin with this approach. Send your internship application to as many investment banks in Dubai as you can. The emphasis would naturally be on the bulge bracket banks;
However, you also have the option of choosing a few mid-level institutions to apply for the position.
Getting your foot in the door of the investment market and building a name for yourself might be easier with the help of an internship, particularly if you have absolutely no prior experience in investment banking.
It is not possible for you to directly apply to banks in Dubai if you are located in another country, such as the United Kingdom or the United States.
Instead, you should get in touch with the parent company or one of it’s subsidiaries. Search for investment banks that already have offices in Dubai, and be sure to express your desire for Dubai when you apply to these institutions.
Make Contact with Job Consultants:
If you don’t already know anybody in Dubai, consultants are going to be your greatest point of contact for finding work there.
Create a list of consultants operating in the area, and then make an effort to meet with as many of them as feasible (if possible).
Establish a connection with them and make sure that the manner you convey your tale leaves an impression on the consultants. And after you’ve done that, you may go on to the entrance points.
Interviews: Investment banking Jobs in Dubai
In Dubai, the interviewing procedure is different depending on the size of the bank being considered for employment.
You may expect to go through many rounds of interviews if you are applying to a larger bank, including a technical round, an HR round, and a final interview with the MD.
When dealing with smaller banks, it is possible that the technical round comes first, followed by the MD.
The primary purpose of the questions that are asked during the interview is to determine whether or not the candidate has a solid understanding of the fundamental principles involved in accounting, financial modeling, valuation, pitch books, Mergers and Acquisitions, and other business-related topics.
Investment Banking in Dubai – Culture
You are expected to work for more than 100 hours a week on a regular basis,
Much like in any other investment bank in the United States or the United Kingdom.
Work ethic is the major factor that differentiates Dubai’s culture from that of Europe and the United States.
In Dubai, the most important thing is to do the assignment on schedule and without making any mistakes.
In both the United States and the United Kingdom, one of the most important item is the total amount of time spent working.
The months of June, July, and August are often the slowest, which is why the majority of bank employees take vacation during these months.
If this is the case, then you will be able to have a healthy work-life balance, even if you are required to work more than 100 hours per week for a stretch of many months at a time.
Investment Banking in Dubai – Salaries
You might probably be aware that the fact that profits are not subject to tax in Dubai is the most attractive aspect of working there.
An investment banker who works in Dubai claims that basic salary and bonuses are provided in a manner that is comparable to that which is paid in Europe.
However, in addition to these benefits, you will also get a housing allowance in the amount of $30,000, and, any profits you make will be exempt from taxation. These extra benefits come in two forms (approx.).
According to the findings of a study that was carried out by Morgan McKinley. It was discovered that the average income for a job in the banking and financial services industry climbed by 7–9% in 2015.
The wages of investment bankers are somewhat lower in comparison to the incomes of investment bankers working in London (around 50,000-60,000 UK Pounds per annum).
However, it is essential to take into consideration that investment bankers in Dubai are exempt from paying any taxes, which quickly doubles their revenues.
Investment Banking in Dubai – Exit Opportunities
The traditional investment banking departure strategy of leaving after two to three years is not applicable in this country due to cultural differences. Investment banking is a career choice made and maintained over the long term.
Consequently, once a person enters the banking industry, they seldom search for ways to leave it.
And even if they do decide to leave investment banking and pursue a career in private equity instead, they will find much fewer chances in Asia than they would in Western Europe or the United States.
However, there are just two main reasons why individuals relocate. In the first place, we have sovereign wealth funds (SWF), and in the second, we have private equity (even if the opportunity is limited).
Boutique investment banks in Dubai – Investment banking Jobs in Dubai
Some of the boutique investment banks in Dubai and U.A.E. are mentioned below:
- Abu Dhabi Investment House
- ADCB Macquarie Corporate Finance
- The AJM Capital Partners Limited
- Al Fajer Investment and Development
- The Al Mal Capital
- Al-Arabi Capital Limited
- Allied Investment Partners
- The Alpen Capital Limited
- Apache Management Consultancies
- Arabian Capital Investment & Finance
- Company Limited
- Arqaam Capital Limited
- ATA Invest Limited
- The Attijariwafa Bank Limited
- Baer Capital Partners International Limited
- BDO Corporate Finance Limited
- CAPM Investment
- Carlyle Mena Investment Advisors Limited
- The Chescor Capital
- Citigroup Global Markets Limited
- Clarkson Investment Services Limited
- The Commerzbank
- Credit Suisse AG
- Daman Investments
- Delta Partners
- The Deutsche Bank
- DIB Capital Limited
- EFG-Hermes UAE Limited
- Emirates Investment Bank
- The Emirates NBD Capital Limited
- FFA Limited
- FH Capital Limited
- The Full Circle Investments
- Genero Capital
If you are interested in making money in investment banking, Dubai is a fantastic place to do it.
If, on the other hand, if you are looking for greater prospects and development, then maybe you should search for work in Europe or the United States, Since at the end of the day, having more money won’t always offer you the fulfillment that you are looking for.