Yet another hedge fund is opening an office in Dubai to capitalize on opportunities in the region. Gottex Fund Management Holdings today said that it will open an office in Dubai following Pharos Financial Advisors’ announcement last week that it is setting up shop within the region.

In addition, Gottex appointed Wassim Nasrallah as managing director responsible for sales and marketing in the Middle Eastern region. Gottex’s Dubai office will be managed by Hashem Arouzi, a founding partner of Gottex.  Nasrallah, who recently joined Gottex from Lehman Brothers, will work alongside Arouzi.

Before joining Gottex, Nasrallah worked for Lehman Brothers as head of generalist sales in Dubai for capital markets and investment management products.