Bank of America relocates London energy banker to Dubai + Sheraa promotes executive director to VP and Emirates Ins. taps COO

Bank of America has relocated managing director of its natural resources and energy transition group Shoaib Noormahomed (LinkedIn) from London to Dubai, as the firm looks to ramp up its efforts in the Middle Eastern energy sector, Bloomberg reports, citing people familiar with the matter. Noormahomed’s experience includes nearly a decade at European financial services group Societe Generale, before he joined Bank of America in 2019.

The move comes as Bank of America helps to arrange Saudi Aramco's USD 12 bn share sale, and after the lender worked on the Abu Dhabi National Oil Company’s USD 10 bn stake sale in its natural gas pipelines in 2020.

The Sharjah Entrepreneurship Center (Sheraa) promoted its executive director Najla Al Midfa (LinkedIn) to VP, Wam reports. The company appointed Sarah Al Nuaimi as its new executive director.

Emirates Ins. has tapped Stefan Schrey (LinkedIn) as COO, according to an ADXdisclosure (pdf). Schrey, who previously served as Emirates Ins.’ head of claims, has business and ins. experience at multinational ins companies in Europe and GCC.