U.K.’s Exotix Said to Close Fixed-Income Trading Desk in Dubai - Bloomberg Business:
"Exotix Partners LLP, the London-based bank expanding in frontier markets, closed its fixed-income trading desk in Dubai, two people with knowledge of the matter said.
Traders from the desk, which specialized in illiquid bonds and loans in the Gulf Cooperation Council region, have already left the bank, according to the people, who asked not to be identified because the matter is private. Equity research and operations remain in Dubai, they said. Andrew Leach, a spokesman for Exotix in London, declined to comment.
The closure comes a month after Philip Southwell stepped down as chief executive officer of Exotix in London. The bank’s Middle East and North Africa head Ahmad Alanani left in May. Alanani set up the Dubai office in 2010 and led a team of seven traders focusing on special credit and equity situations."
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