Friday, July 19, 2024

‘Global Wealth Management’s Middle East team gets a boost from UBS’

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UBS Global Wealth Management is making significant changes to its Middle East regional organization by adding three new senior hires to their team. These new additions are part of the bank’s strategy to focus on client needs and execute seamless integration within the region.

Bassel Al Zaouk, a former CEO and Chief Country Officer at Deutsche Bank in Saudi Arabia, has joined UBS to lead the expansion of their domestic wealth management business in Saudi Arabia from Riyadh. His experience and expertise in the market make him a valuable addition to the team.

Ali Khunji, who previously headed the wealth and personal banking business at HSBC in Bahrain, will now focus on growing UBS’s wealth management business in Bahrain and the Eastern Province. Pending regulatory approval, Khunji will serve as Co-Location Head Bahrain alongside Khaled Salah, also joining from HSBC.

Rana Al Emam, former Head of Private Banking at HSBC in Abu Dhabi, will be responsible for driving UBS’s business growth in Abu Dhabi starting July 1st. Her appointment signifies a strategic move by UBS to strengthen its presence in the capital city.

Reporting to Niels Zilkens, Head Wealth Management Middle East, Al Zaouk and Khunji will bring their teams from Deutsche Bank and HSBC, respectively. Al Emam, reporting to Georges El Khoury, Location Head Dubai, will also be joined by colleagues from HSBC.

Zilkens expressed his excitement about the new hires, stating, “Their strong professional background and local expertise will further empower our presence in the Middle East.” He emphasized the bank’s commitment to accelerating growth and achieving ambitious goals with the combined strengths of the new team members.

With the recent merger of UBS and Credit Suisse, UBS has cemented its position as the leading wealth manager in the Middle East. The bank has been actively involved in the region for the past 60 years, establishing a strong foundation for continued success and growth.

The addition of these experienced professionals from top financial institutions like Deutsche Bank and HSBC demonstrates UBS’s dedication to providing quality wealth management services in the Middle East. This strategic move aligns with the bank’s long-term vision for expansion and solidifies its position as a key player in the region’s financial landscape.

Overall, UBS’s commitment to strengthening its Middle East team reflects its dedication to serving clients and advancing its growth strategy in the region. By leveraging the expertise and local knowledge of the new hires, UBS is well-positioned to navigate challenges and capitalize on opportunities in the dynamic Middle Eastern market.

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