Top investment bankers hit by the fallout from the worsening financial crisis in western markets are the target of a hiring programme by a Bahraini investment bank, which is hoping to lure staff to the Middle East with packages worth as much as $2m (€1.4m).

Bahrain-based Global Bank Corporation is seeking to take advantage of the disruption in developed markets to hire senior investment bankers, according to New Zealand-born chief executive Mark Hanson.