UAE Banking Landscape

Hi Monkeys,

I would like to get perspectives on the current state of banking in the UAE and people's views on mobility (internally and externally). There have been a lot of discussions on how the GCC has been getting crushed because of low oil prices and people here have been discouraging prospects from moving to the UAE due to few mandates, lots of pitching work, and basically pigeon-holing.

I am wondering why people here aren't taking the view that there will be A LOT of opportunities that will come out of the poor economic performance of the leading GCC countries. Won't advisors be securing a lot of Rx and M&A mandates in the region that are not O&G related? It seems to me that boutiques likes HL and Moelis have been really active recently in the region. Are the UAE teams of banks really that looked down upon from their colleagues in the US/UK? If I were to recruit for a role in the UAE, would it really be that hard for me to transfer internally or lateral to another shop in London?

I would really appreciate your advice. I feel that being single and not having to pay income taxes for 3-4 years in the UAE would allow me to save a lot more $ than I would be able to in developed markets.