British universal bank Barclays has appointed Khaled El Dabag and Walid Mezher as Co-CEOs of the Middle East region, effective immediately.

Both Co-CEOs, El Dabag and Mezher, will be based in Dubai, working closely with Stephen Dainton, President and Head of Investment Bank Management at Barclays Bank PLC.

El Dabag brings over 25 years of investment banking leadership experience to his new role. Most recently, he served as the CEO and Head of Investment Banking for the Middle East and North Africa (MENA).

He joined Barclays in 2014 to co-lead the Investment Banking business and has been instrumental in driving the bank’s strategy for the region. Previously, he worked with Goldman Sachs as Managing Director, Stephens Inc. as MD, and Merrill Lynch as Vice President. Academically, he holds an MBA in Finance from Columbia University and a bachelor’s degree from Georgetown University.

On the other hand, Mezher brings around two decades of industry leadership experience to his new role. He joined the bank in 2005 and has held key leadership roles, including Head of Markets for the MENA region since 2017. He previously worked with Byblos Bank, GE Healthcare, and HSBC in leading roles.

On the academic front, he holds an MSc in Finance from ESCP Business School, a European MBA in Finance from ESG Ecoles de Commerce, France, and a BBA from the American University of Beirut.

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“Khaled and Walid have been working closely together for over ten years and have established strong relationships with the most significant clients and stakeholders in the region,” the bank stated in the announcement.

Welcoming both Co-CEOs, Stephen Dainton, BBPLC President and Head of Investment Bank Management, said, “As the Middle East continues to play a bigger role in shaping global capital markets and attracting more wealth, the region is also becoming increasingly important to Barclays’ overall success and to the execution of our three-year plan. Bringing together senior leaders from our Investment Banking and Global Markets businesses will help further drive efficiency and collaboration in delivering one bank for our local and global clients.”