Investment banks eye Iraq despite risk

LONDON - Even as the US prepares to pull out its last troops from Iraq, well-heeled investment bankers are starting to descend on Baghdad, hoping to capitalise on the strife-torn country’s tentative efforts to rebuild its physical and financial infrastructure. Safety remains a big concern. Visiting bankers must travel with contingents of security personnel. Undeterred, […]

Robin Wigglesworth reports for the Financial Times:

LONDON - Even as the US prepares to pull out its last troops from Iraq, well-heeled investment bankers are starting to descend on Baghdad, hoping to capitalise on the strife-torn country’s tentative efforts to rebuild its physical and financial infrastructure.

Safety remains a big concern. Visiting bankers must travel with contingents of security personnel.

Undeterred, investment bankers from institutions including Morgan Stanley, Goldman Sachs, HSBC, Citigroup and BNP Paribas are still flocking to Iraq.