| DUBAI, April 15
DUBAI, April 15 Khaled Eldabag, a senior
investment banker at Goldman Sachs Group Inc who handled
some of the Wall Street firm's biggest clients in the Middle
East, has resigned, two sources familiar with the matter said.
Eldabag, a Dubai-based managing director at Goldman whose
clients included Abu Dhabi investment fund Mubadala,
resigned last week, the sources said on Monday, speaking on
condition of anonymity as the matter is not public.
The sources were not aware of Eldabag's plans but one said
he would remain in the region. Goldman Sachs declined to
Goldman topped the rankings for announced M&A transactions
in the Middle East, with deals worth $5.9 billion in 2012,
according to Reuters data.
Eldabag, who joined Goldman Sachs in 2007, advised on
several high-profile deals, including the recent state-backed
merger of property firms Aldar Properties and Sorouh
Real Estate, the sources said.
Last year he also advised Mubadala on its $2 billion stake
purchase in Brazil's EBX, an investment holding company
controlled by billionaire Eike Batista.
Unlike some of its peers in the region which cut staff last
year in response to a dearth of deals, Goldman has kept a steady
headcount over the last few years.
But in recent months, the bank has lost some of its senior
regional staff, including its Qatar Chief Executive Tamim
al-Kawari, who joined local bank QInvest and Rayan Fayez, its
investment banking head in Saudi Arabia, who joined J.P. Morgan
Chase Inc last year.
M&A activity in the region is showing signs of revival
after the global financial crisis hit investor sentiment.