Credit Suisse has appointed a senior manager in Dubai, hiring from a rival.

Naveed Ahmed has joined Credit Suisse as a managing director in Dubai, the Zurich-listed bank has confirmed to this publication.

Ahmed was previously a senior figure at UBS, holding the role of managing director - global emerging markets; and prior to that, he was a managing director at Citi Private Bank.

Among other recent moves, as announced in December last year, this publication reported that investment banker Thomas Gottstein is to replace Rolf Boegli as head of Credit Suisse’s ultra high net worth business in Switzerland, after Boegli announced that he was stepping down for health reasons.

As previously reported by this publication, Credit Suisse intends to put more focus on its private banking arm, targeting a larger share of ultra-wealthy clients as tougher regulation and volatile markets dent investment banking returns.