Rothschild Taps Former Goldman Banker for Middle East Deals

Rothschild & Co. hired former Goldman Sachs Group Inc. executive Ibrahim Lamrini for Middle East deals as the boutique bank extends its hiring spree in the oil-rich region.

(Bloomberg) — Rothschild & Co. hired former Goldman Sachs Group Inc. executive Ibrahim Lamrini for Middle East deals as the boutique bank extends its hiring spree in the oil-rich region.

Lamrini is set to join Rothschild’s mergers and acquisitions team next month as a senior director, according to people familiar with the matter who asked not to be named because the information is private.

He previously spent 13 years working at Goldman Sachs, mostly in the Middle East, according to his LinkedIn profile. During his time at the bank, he was involved in a number of deals including the sale of a regional e-commerce firm to Amazon.com Inc. He left the Wall Street firm in 2021 to help set up an online jewelry firm.

A representative for Rothschild declined to comment.

Since Saeed Al Awar was named co-head of the Middle East in 2019, Rothschild has built up a team in the United Arab Emirates and Saudi Arabia, which includes former Goldman Sachs dealmaker Ken Calleja.

Last year, Rothschild opened a new office and made senior hires in the Saudi Arabian capital of Riyadh, which is attracting a larger number of investment bankers amid a surge in dealmaking. Many of its peers such as Lazard Ltd. and Moelis & Co. have also been boosting their regional ranks.

Despite dwindling volumes elsewhere in the world, activity in the Middle East remains robust as governments list state assets and pursue global acquisitions via their sovereign wealth funds and domestic champions. Rothschild has won several mandates in recent months, including advising on the upcoming IPO of a shisha firm and two assets owned by Dubai’s Road and Transport Authority.

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Separately, another former Goldman Sachs banker, Fayez Khan, is joining HSBC Holdings Plc’s Middle East investment banking team as a managing director, according to LinkedIn. A spokesman for HSBC confirmed his appointment.

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