Former Bank of America Corp. executive Ziad Awad is setting up an independent consulting firm in Dubai as corporate activity picks up in the Persian Gulf and investment banks scale back in the region.
Awad, who also worked at Goldman Sachs Group Inc. in the Middle East, will become chief executive officer of Boardroom Metrics Arabia in Dubai, offering merger and acquisition advisory, corporate governance and marketing services, he said today in a telephone interview from the city.
“Markets are definitely picking up across all segments and we expect a lot of business to come from companies in the pre-IPO and pre-M&A stage,” he said. “With the expected shift toward public equity markets, corporations have an increased need for accomplished and senior skilled advisers.”
Merger and acquisition deals valued at $39.1 billion have been announced in the Middle East and Africa this year, the highest since the same period in 2007 and 15 percent higher than a year earlier, according to data compiled by Bloomberg.
Boardroom Metrics, based in Ontario, Canada, is a franchise-based business with about 25 consultants. The Dubai office has also enlisted Nasser Saidi, a Lebanese politician and economist who previously served as the chief economist of the Dubai International Financial Centre, according to Boardroom Metrics’s website.