Rothschild busiest in Mideast M&A: study

Rothschild ROT.UL has been the Middle East's busiest advisor on mergers and acquisitions so far in 2009, data shows, underlining the growth potential for independent investment banks in the region.

Rothschild, which has worked on deals worth $15.4 billion so far this year, precedes Deutsche Bank AG (DBKGn.DE) and Morgan Stanley MS.M in league tables set out in a study released by Thomson Reuters (TRI.TO)(TRI.N) on Tuesday.

Despite investment banking activity having fallen to pre-boom year levels in the Middle East, Rothschild in the past year has doubled the number bankers working from Dubai to around 20, a strategy that is paying off.