DBS Group has appointed Toby O’Connor as the new head of its Islamic unit, the Islamic Bank of Asia (IBA), Reuters reports. He joins from JP Morgan, where he was head of Middle East and North Africa (MENA) sovereign wealth funds.

O’Connor, who will be based in the bank’s Singapore headquarters, will focus on growing IBA’s investment banking operations. IBA was set up by DBS and a group of Middle Eastern investors to provide Islamic banking services to customers in Asia and the Middle East.

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