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Dubai Deal Drought Prompts Citigroup, Credit Agricole to Pull Bankers Home
Not that Dubai didn't have it coming, but I would say good riddance!
Banks are pulling staff from the Gulf Cooperation Council region as a drought of mergers and share sales is compounded by pressure to make savings at home.
Fees earned by banks in the Middle East fell 42 percent to $320 million in the first nine months of the year from $551.1 million during the same period in 2010, according to New York-based research firm Freeman & Co. Total fees in 2011 are 71 percent lower than in the first nine months of 2008, when fees peaked at $1.1 billion.
Fees earned by banks in the Middle East fell 42 percent to $320 million in the first nine months of the year from $551.1 million during the same period in 2010, according to New York-based research firm Freeman & Co. Total fees in 2011 are 71 percent lower than in the first nine months of 2008, when fees peaked at $1.1 billion.