Citigroup Inc. today announced that Alberto Verme, the firm’s global co-head of investment banking, will relocate to Dubai.

Verme will continue to share global responsibility for investment banking with Ray McGuire, who remains based in New York. From Dubai, Verme will help serve Middle Eastern clients, as well as facilitate access to the region and provide local expertise for clients around the world seeking to do business there. The bank said that this move underscores Citi’s commitment to the Middle East.

Verme has been in his current role since 2004. He joined Salomon Brothers in 1994 as head of investment banking for Latin America. He was head of global energy, power and chemicals investment banking from 2001 to 2004. He began his career at The World Bank in 1979. He is a Peruvian national and holds a B.A. in Economics from Denison University and an M.B.A. from Columbia Business School.

Vikram Pandit, CEO of Citi, said, “Citi has been in the Middle East for more than 50 years, and we want our clients in the region and around the world to know we are convinced of the region’s long-term and immense growth opportunities. I am extremely pleased that Alberto will bring his unique experience and impressive track record of business building and client service to this critical opportunity.”