Credit Suisse Group AG, whose second-largest shareholder is theQatar Investment Authority, is cutting its investment bankingbusiness in Dubai to focus on Qatar and Saudi Arabia, a personfamiliar with the matter said.

Two bankers will move to Doha from Dubai as part of plans toshift the regional investment banking department headquarters toQatar, the person said, asking not to be named as the news isn'tpublic. The bank will also cut about three positions in Dubai andtransfer another as it moves its equities business to Riyadh, theperson said. Bassam Yammine, MENA investment banking departmentco-head, already left the bank, the person said.

Qatar and Credit Suisse are boosting ties after the nation tooka 6 percent stake in the Zurich-based bank, bought its Londonheadquarters and formed asset manager Aventicum Capital Management.The country, which has the world's third-largest gas reserves, issnapping up assets to reduce its energy dependency and has $30billion to invest this year, Qatar Investment Authority boardmember Hussain Al Abdulla said in April.