Union Bancaire Privée has strengthened its Middle East and North Africa equities investment team by bringing in a five-strong team from a Dubai-based asset management firm which has moved its flagship MENA equity fund to UBP.

The team will be headed up by lead portfolio manager Habib Oueijan, who has been running MENA equity portfolios for the past 15 years. Mahmoud El Safty will also join as a senior portfolio manager along with three experienced research analysts. The team spent some eight years together at the Dubai-based asset manager. The recruitment of the team is aimed at providing UBP’s clients with on-the-ground access to the return potential of the Middle East's stock markets, the firm said in a statement.

“The MENA equity markets are among the most under-researched and under-owned by global investors, despite what we believe to be their excellent return potential and strong diversification benefits,” said Richard Wohanka, chief executive of asset management at UBP.

In 2010 the firm significantly ramped up its emerging market investment offering, bringing in 11 professionals and launching European Emerging, Turkish and Russian equity funds.