Kuwait's Global to hire ex-Barclays banker as investment bank head: Sources - The Economic Times:
"Global Investment House is set to hire Michael Helou, a former senior banker at Barclays, as its investment banking head, four banking sources said, as the Kuwaiti firm seeks to revive growth after a debt restructuring deal.
Global, one of the largest investment firms in the Middle East, was hit hard by the 2009 global financial crisis, which crippled debt markets and led to a sharp drop in asset values. It completed a $1.7 bln debt restructuring plan with creditors in July.
Global declined to comment on the appointment. Helou could no immediately be reached for comment. His appointment is awaiting regulatory approvals and will be effective by early 2014, one of the sources said.
The firm, which delisted from the Kuwait bourse and is currently debt-free post the restructuring, is now seeking to revamp its operations and the hiring is part of a plan to bolster key business lines, the sources said, speaking on condition of anonymity as the matter is not public. "
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