BNY ConvergEx Group, an affiliate of the Bank of New York Mellon Corporation, has appointed Motaz Ibrahim as vice-president and head of product sales for BNY Global Transition Management in the Middle East.

IbrahimÆs appointment signals the agency broker's ambition to grow its business in the region. He will focus on business development in the Middle East region, including the United Arab Emirates, Qatar, Saudi Arabia, and Kuwait.

He will work with new and existing clients in the pension fund, sovereign wealth, insurance and asset management sectors to develop and implement cost-efficient transition management strategies.

Prior to his new appointment, Ibrahim worked in a number of trading, portfolio management, and structured product roles for Global Investment House, Al Mal Capital, Shuaa Capital, and Dubex Securities in the Middle East.

The Middle East has not been immune to recent market volatility, while oil prices also continue to fall. However market players remain optimistic, pointing to strong earnings growth potential and buying opportunities.

"The last several years have led to the creation of an immensely sophisticated institutional investor base in the Middle East that mirrors investors everywhere in their need for portfolio diversification,ö says Hani Kablawi, managing director, head of Middle East & Africa at the Bank of New York Mellon.

ôWe are very pleased that we now have the services of a transition management specialist based in the region that will help our clients minimise risk and preserve the value of their investments.ö

BNY ConvergEx specialises in global agency trading in over 94 markets worldwide, including global portfolio trading, single stock and block-trading, portfolio rebalancing, foreign exchange and liquidations.