As one of our mainstay focus sectors since inception, we have partnered with large international institutions, regional and local firms as well as boutique set-ups. We have imported talent from the A-Pac and Europe regions for our clients across the GCC and on few occasions have also exported talent from the UAE. We have executed project based hiring mandates as well as C-level and Functional Head level searches. Successes have largely been in Private Banking, Private Equity, Corporate Banking, and Insurance.
- Vice President, Private Banking with a leading global Swiss bank
- Relationship Manager, Mid-Corporates segment with a leading local UAE bank
- Director, Private Banking with a leading boutique Liechtenstein bank
- Relationship Manager, Technology and Supply Chain Finance with a leading local UAE bank
- Vice President, Private Banking with a leading global American bank
- Insurance Specialist with a leading private client global Insurance Broker
Case Study 1
A leading international Private Bank had just experienced the coordinated resignation of roughly 22 of its high performing and key members across its Hong Kong, Singapore and Dubai offices including the Global Head of NRI, the Head of HK, local CEO of Dubai and several others. The bank needed a quick response to the situation without creating a panic.
Our Search Strategy
With our decade plus experience in the private banking and wealth management vertical, we presented our capabilities for the ME region to the then CEO and Deputy CEO of the overall bank. Those discussions were to the point and involved giving them an overview of the regional dynamics and talent pool.
Our focus was to identify a local CEO for their Dubai office (which was then roughly 40 members in total before the defection and today they are in excess of 60 members). Along with this position was the need to hire Relationship Managers, a Head of Investment Advisory among others.
Our geographic target was mainly the Dubai market, as it had become the regional hub of banking and financial services over the last decade+. Our biggest challenge here was to identify a CEO with enough experience and gravitas in the private banking space but also with enough humility in order to harmonize / integrate with, and complement, the existing team.
It was crucial for the few Senior Directors of the bank (who stayed back at the bank and had served the institution for more than 6 years each) to gain acceptance with this leadership hire.
The CEO and Deputy CEO of the overall bank were cognizant of this fact and presented this as key criteria. They did not want to see any more of their Senior Directors to leave.
We successfully placed the local Dubai office CEO and a number of other positions including the Head of Investment Advisory. We continue to partner with this institution and have gone on to place a few more Function Heads with the bank. The CEO placed by us is still with the bank after many years as are all those Senior Directors who had stayed back at the bank during the initial defection. The team has grown from strength to strength and is one of the top private banks in the region.
Case Study 2
Our client was one of the four Islamic banks in United Arab Emirates. The bank was established in 2004 to deliver banking services in line with Shari’a principles, offering products designed for individuals and small businesses as well as large corporations.
In 2016/ 17, the agenda for the top management of the bank was “diversification and inclusion” amongst Relationship Managers by adding Islamic talent from Far East as well as South Asia focusing on Indonesia, Malaysia and Sri Lanka
Our Search Strategy
To ensure a timely and successful completion of the project, we partnered with our offices in Indonesia and Malaysia. Our team of subject matter experts was in our Dubai office – Consultants and Researchers – to coordinate activities between the client and the regional teams. One of the Senior consultants was selected to travel with the client to all locations in order to provide on-sight support.
The challenge was not only to sell “Middle East” to the selected candidates, but also facilitate the process of relocation. MRI needed to ensure the consultants showed sensibility and maturity while following through with the mutual agreement between the client and the candidates that agreed to relocate to Dubai.
We went above and beyond our initial mandate by successfully placing and relocating over 50 candidates from these regions as RMs along with placing candidates across other teams such as operations, credit & control and risk.
The client expressed its satisfaction with the results by selecting MRI for the next overseas project in the following quarter. We were also selected to conduct a mass expansion / recruitment drive with the parent bank – the largest bank in the Middle East (in terms of assets) owned by the Government of Dubai.