Rothschild is among boutique advisory firms expanding in the Gulf as governments diversify their economies away from oil, sell state assets and consolidate fragmented industries
Rothschild & Co. hired former Goldman Sachs Group Inc. deal maker Ken Calleja in Dubai as the boutique bank readies for more advisory work in the oil-rich Gulf region.
Calleja, who started as a managing director for Rothschild in the Middle Eastern business hub this month, spent 12 years at the US bank before leaving in 2015, according to people with knowledge of the matter. He then worked at the Abraaj Group for about six months and founded a gym in Dubai, the people said, asking not to be identified because the appointment isn’t public.
Rothschild is among boutique advisory firms such as Moelis & Co. and Evercore Inc. expanding in the Gulf as governments diversify their economies away from oil, sell state assets and consolidate fragmented industries.
With oil’s collapse and the fallout of the coronavirus pandemic this year, more companies and governments are expected to reschedule debt, sell assets and raise financing.
A representative for Rothschild declined to comment.
The French bank helped port operator DP World Ltd. to delist from a local stock exchange and advised Abu Dhabi Power Corp. on a deal that turned it into a regional utility giant.
In September, Rothschild appointed United Arab Emirates national Saeed Al Awar as head of the Middle East, managing a team of about 12 bankers.