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May 08, 2008

Want the Citibank Co-Head of Investment Banking? Call Dubai

Link: Deal Journal - WSJ.com : It's Dubai, Mumbai or Good-Bye.

Investment banks following the money trail are shifting some top earners to Dubai to help tap the booming oil-rich Persian Gulf economies and the estimated $1.5 trillion held by sovereign wealth funds there.

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The latest is Alberto Verme, the co-head of its investment-banking unit. He is supposed to help win more business in what his employer describes as “one of the world’s fastest-growing and most important regions.”

...Bankers moving to the region get a big perk: no local taxes on their six- or seven-digit pay packages.

Posted by Anupam Chander on May 8, 2008 at 01:44 PM in Globalization | Permalink

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