Sophie Baker, Financial News

UK private bank Coutts has made five hires – including three from Deutsche Bank – to its team serving clients in the Middle East, where it recently obtained enhanced authorised status.

Michael Dismorr has joined as a managing director with responsibility for developing new and existing business in the Middle East. He was most recently chairman of Deutsche Bank’s Middle East advisory board and head of the German bank’s Middle East and Africa key client group.

In his new role he will also serve as a senior ambassador for Coutts, work with management on the strategic development of the business and advise on relationships with key clients and stakeholders. He will be based in Dubai.

Rory Tapner, chief executive of Coutts, said in a statement that the appointment “underscores the importance of our Middle East business, which we have identified as a core market for growth and investment”.

Coutts has also hired two other former Deutsche Bank staff: Jean Luc Voirol has been appointed as a specialist adviser, based in Dubai; while Martin HungerBuhler will be based in Geneva, from where he will work with Middle East private clients.

Also joining are Nadim Khan, most recently at Emirates NBD, as an executive director in Dubai, and Hussam Rinno from Bank Vontobel as a director, also in Dubai.

Coutts said today it plans to appoint a further 13 client-facing staff for its Middle East business this year. Seven of these will be based in Dubai – the hub of its Middle East activities. It opened its first office in Dubai 13 years ago but launched a new office there last November. The new office, located in the Dubai International Financial Centre, enabled Coutts to operate as an authorised firm in the region.

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http://www.efinancialnews.com/story/2013-04-11/coutts-middle-east-wealth