Last checked at 
By Dinesh Nair
DUBAI, Sept 23 (Reuters) - HSBC Holdings has namedSamer Deghaili to head its equity capital markets business inthe Middle East and North Africa, a spokesman said on Monday, asactivity picks up in the region.
Deghaili replaces Michael Bevan, who will head coverage ofAsian sovereign wealth funds in HSBC's Hong Kong headquarters,said two sources with knowledge of the appointments. Deghaili'smove was later confirmed by the bank.
Equity capital markets activity in the Gulf Arab region isshowing signs of recovery as financial markets and valuationspick up after years of sluggish activity. Bankers in the regionsay more companies have been making initial enquiries about IPOsand secondary share offerings.
Dubai is among the best performing equity markets this yearwith its benchmark index up 65 percent year-to-date.
HSBC revamped its global investment banking operations inJuly, separating responsibilities for products and clientcoverage in a bid to drive business growth.
The lender named Mohammed al-Tuwaijri as chief executive ofthe Middle East and North Africa, replacing Simon Cooper, whowas appointed head of the bank's commercial banking arm.
In his new role, Deghaili who joined the bank in 2010, willreport to Adrian Lewis, head of EMEA equity capital markets, andregionally to Georges Elhedery, head of markets and capitalfinancing for MENA region. His appointment was effective earlySeptember, according to the two sources.
Middle Eastern companies raised $3.2 billion from 12 capitalmarket operations during the first half of 2013, a 15 percentdecline from the same period in 2012 (US$3.7 billion), accordingto Thomson Reuters data.
Among companies to express interest in capital raisingrecently, DAMAC Properties, a privately held Dubai propertydeveloper, hired Deutsche Bank and Citigroup Inc to advise on an initial public offering of shares inLondon, two sources with knowledge of the matter said earlierthis month.
Separately, Abu Dhabi private equity firm Gulf Capitalappointed Rothschild as a financial advisor for apotential IPO of its majority-owned unit, Gulf Marine Services.
