Credit Suisse, UBS Said to Work With Abu Dhabi Banks on Deal

Credit Suisse Group AG and UBS Group AG, which have scaled back from the Gulf since the financial crisis, are advising on the potential merger of Abu Dhabi’s two largest banks, according to people with knowledge of the matter.

Credit Suisse is advising National Bank of Abu Dhabi PJSC while UBS is working with First Gulf Bank PJSC, the people said, asking not to be identified because the information is private. Saad Benani is Credit Suisse’s head of investment banking in the region, while Alberto Palombi is his counterpart at UBS. The four banks declined to comment.