Qatari flagship moves into unique space

* username: rupertbu

In February, Qatar Financial Centre, one of the gas-rich state’s flagship projects, shocked regional banking circles by culling staff in a strategic overhaul.

For many observers, the move, which saw a third of the QFC’s about 100 staff made redundant, was counterintuitive. Many saw the financial troubles in the wider region as providing an opportunity for the Qatar centre, which enjoys the backing of one of the region’s most cash-rich government and is supported by a doubling in gas exports.

From mergers and acquisitions to debt issuance, Doha has provided a steady set of fees for investment bankers in Dubai, where a real estate crash and debt problems continue to hamper business prospects.