UBS strengthens Global Wealth Management’s Middle East team

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UBS Global Wealth Management is updating its Middle East regional organisation and strengthening its teams on the ground with three new senior hires.

The new hires are aimed at seamlessly executing the bank’s strategy and maintain an unwavering focus on clients’ needs as the integration progresses.

Bassel Al Zaouk recently joined from Deutsche Bank, where he was CEO and Chief Country Officer for the bank’s franchise in Saudi Arabia. Based in Riyadh, Al Zaouk will build out the domestic wealth management business in Saudi Arabia.

Ali Khunji will focus on growing the wealth management business in Bahrain and the Eastern Province. Subject to regulatory approval, Khunji will assume the role as Co-Location Head Bahrain together with Khaled Salah. He joins UBS from HSBC where he headed the wealth and personal banking business in Bahrain.

Rana Al Emam will assume responsibility for growing UBS business in Abu Dhabi, starting on July 1. She also joins from HSBC, where she was previously Head of Private Banking in Abu Dhabi.

Al Zaouk and Khunji will report to Niels Zilkens, Head Wealth Management Middle East, and Al Emam will report to Georges El Khoury, Location Head Dubai.

Joining Al Zaouk are three colleagues from Deutsche Bank and Khunji and Al Emam are each joined by two colleagues from HSBC.

Zilkens said: "I am very pleased to welcome Bassel, Ali, Rana, and their teams. Their strong professional background and local expertise will further empower our presence in the Middle East and I have no doubt that together, we are now best positioned to accelerate our growth strategy and achieve the ambitious goals we have set for ourselves.”

Through the combination of UBS and Credit Suisse, UBS is now the leading wealth manager in the Middle East – a key region the bank has been active in for 60 years.