Chasing sky-high valuations, Dubai bankers switch to tech sector

FILE PHOTO: Omar Abuinnab, Chief Executive of Keyper, a property technology firm that has just set up in Dubai, poses for a picture, in Dubai, United Arab Emirates February 3, 2022. Picture taken February 3, 2022. REUTERS/Hadeel Al Sayegh

DUBAI (Reuters) - Faced with deal fees in the Gulf region a fraction of those in markets elsewhere, many Dubai bankers are handing in their notices, attracted by the lure of cashing out, stock options and share grants at startups.

Veteran investment banker Omar Abuinnab is one of them. He left Guggenheim Partners' Middle East unit in December to set up Keyper, a Dubai real estate technology start-up.