Bank of Singapore has relocated a veteran banker from Singapore to Dubai to drive the bank’s business in the Middle East. Effective 1 July 2026, Lim Leong Guan (林良源) will assume the role of head of private banking for the Middle East, South Asia & international. Based in Dubai, he will also be chief executive of the Dubai International Financial […]

The post Bank of Singapore appoints private banking head for Middle East, South Asia & int’l appeared first on Asian Private Banker.

The US-Israeli joint military offensive on 28 February 2026 has significantly cooled the war for talent in the Middle East, as private banking candidates hesitate to make long-term commitments to the region. While banks remain committed to aggressive expansion targets, the record-breaking momentum of the first two months of 2026 is now meeting a new layer of candidate hesitation. January […]

The post Geopolitics stalls Middle East talent war as candidates think twice appeared first on Asian Private Banker.

Chinese wealth manager GROW Investment Group is expanding its business in the Middle East, shunning geopolitical noise and betting on its AI-driven digital wealth platform for growth. The firm, backed by Swiss pure-play Julius Baer, has recently received in-principle approval to conduct both asset management and wealth management business in the Abu Dhabi Global Markets (ADGM), it shared with Asian […]

The post Chinese wealth manager GROW ramps up Middle East push despite Iran war appeared first on Asian Private Banker.

Growing geopolitical instability in the Middle East is driving a reassessment of global booking centres, providing a tailwind for Hong Kong’s newly expanded “Family Office 2.0” strategy, according to Jason Fong, global head of FamilyOffice HK. “Legal certainty and continuity are exactly the kind of assurances super‑rich families look for when choosing a jurisdiction for their family offices,” Fong told […]

The post Family Office 2.0: Can Hong Kong’s ‘safe pocket’ narrative win over skittish global wealth? appeared first on Asian Private Banker.

Asian private banks could be stifling the growth of external asset managers (EAMs) in Asia by failing to treat them as proper business partners, Mandeep Nalwa, CEO of Taurus Wealth, told Asian Private Banker. “We need banks to be partners to EAMs, so the rules of the game are the same in Switzerland and Asia. That would allow everyone to […]

The post “We need banks to be partners”: Taurus CEO slams EAM treatment in Asia appeared first on Asian Private Banker.

Swiss pure play UBP has made a series of senior appointments for its Middle East business, including hiring an investment veteran from UBS. Fahd Iqbal has been appointed as head of investment services in Dubai. In this role, he will embed the bank’s Global Investment Committee’s investment approach locally, reporting to Arfat Qayyum, senior executive officer of the UBP Dubai […]

The post UBP taps UBS veteran in Middle East wealth push appeared first on Asian Private Banker.

Singapore’s WRISE Group has formed a partnership with Dubai-headquartered The Continental Group to deliver wealth solutions to affluent and HNW clients in the Middle East, according to an announcement on Wednesday. Through the partnership, WRISE Group will combine its digital wealth infrastructure, global product capabilities, and institutional investment access with The Continental Group’s insurance and risk advisory expertise, and onshore […]

The post WRISE taps Dubai partnership to drive Middle East wealth push appeared first on Asian Private Banker.

Nomura International Wealth Management’s (Nomura IWM) CIO and head of managed investments is leaving the bank, Asian Private Banker has learnt. Gareth Nicholson, who served as Nomura IWM’s CIO and head of managed investments for nearly five years, will be joining First Abu Dhabi Bank, according to sources familiar with the matter. Effective February, Nicholson will relocate from Singapore to […]

The post Nomura IWM CIO to join First Abu Dhabi Bank appeared first on Asian Private Banker.

From record North Asia flows and the resumption of full-force hiring to digital assets and evergreen funds, Asian Private Banker looks back at the big stories that dominated headlines in 2025. 1. Hong Kong’s comeback: Record North Asia wealth flows Asia’s private banks experienced unprecedented growth in North Asia, with Hong Kong’s wealth industry bouncing back to near pre-pandemic levels, making the city […]

The post APB Wrapped: The top 10 Asia private banking trends in 2025 appeared first on Asian Private Banker.

Julius Baer said on Tuesday that it has received final approval to open an advisory office in Abu Dhabi, the United Arab Emirates, expanding its footprint in the Middle East. The new entity, Julius Baer (Abu Dhabi) Ltd, will open in Abu Dhabi Global Market (ADGM). It will be led by Amir Iskander, who joins as its chief executive officer. […]

The post Julius Baer opens Abu Dhabi office in Middle East wealth push appeared first on Asian Private Banker.

UBP has opened a new office in Riyadh as part of its long-term regional growth strategy to deepen its presence in Saudi Arabia. With the new office, UBP has appointed Mishal Alhawas as CEO and head of advising for Saudi Arabia, the Swiss pure play announced in a statement on Tuesday. Based in Riyadh, Alhawas will be overseeing UBP’s operations […]

The post UBP appoints CEO for new Saudi office appeared first on Asian Private Banker.

UBS has opened a new advisory office in Abu Dhabi, marking the Swiss giant’s second location in the United Arab Emirates (UAE) alongside its existing Dubai operation. The move comes as the Swiss bank seeks to expand its footprint in one of the world’s fastest growing finance and wealth hubs to better serve the growing number of ultra high net […]

The post UBS expands Middle East presence with Abu Dhabi office appeared first on Asian Private Banker.

A veteran banker has rejoined Emirates NBD Private Banking after a three-year stint at Julius Baer, Asian Private Banker has learnt. Tarun Jalali has joined Emirates NBD as a managing director and head of strategic growth markets for private banking. Based in Dubai, Jalali will be responsible for Emirates NBD’s global South Asian business, EAM, Eurasia, and China desks. Jalali’s […]

The post Emirates NBD hires Julius Baer exec to lead strategic growth markets appeared first on Asian Private Banker.

The Middle East has been the epicentre of geopolitical uncertainty over the past six months, with flare-ups of tensions between Israel and Iran and in the wider region impacting markets and client portfolios. With clients geographically closer to conflict, WRISE Private Middle East CEO told Asian Private Banker how he has been advising staying “tactically agile” to seize opportunities where […]

The post Build in tactical agility to capitalise on geopolitical volatility – WRISE Middle East CEO appeared first on Asian Private Banker.

Nomura International Wealth Management (Nomura IWM) has hired an industry veteran to lead its business in the Middle East and Europe, Asian Private Banker has learnt. Based in Dubai, Harish Hemandas has been appointed as head of Nomura Singapore Limited (NSL) Dubai International Financial Centre Branch. Subject to regulatory approval, he will serve as senior executive officer and head of […]

The post Nomura IWM hires StanChart veteran to lead Middle East and Europe appeared first on Asian Private Banker.

Singaporean giant DBS has appointed a veteran banker as head of private banking for the Middle East & Africa (MEA). Loic Voide will take up the role of head of private banking MEA at the start of August, DBS said in a statement on Monday. He will relocate to Dubai for the newly created role. Reporting to Vikas Jaidka, region […]

The post DBS names head of private banking for Middle East & Africa appeared first on Asian Private Banker.

Tensions in the Middle East are pushing oil prices back into focus for private banks, as Iran-Israel hostilities escalate and the US steps in. With key supply routes at risk, markets fear disruptions that could drive prices higher, especially for Asia bound energy. The US conducted what President Donald Trump described as “very successful” airstrikes on three of Iran’s nuclear […]

The post Oil jitters rise as Julius Baer, Nomura IWM, and UBS weigh in appeared first on Asian Private Banker.

Barclays has tapped a former senior executive officer at HSBC to lead its private banking business in the United Arab Emirates (UAE). Based in Dubai, Farzad Billimoria will join the UK lender as head of private bank for the UAE on 1 July 2015, subject to regulatory approval, according to a statement on Thursday. The bank said Billimoria will be […]

The post Barclays names ex-HSBC heavyweight as UAE private bank head appeared first on Asian Private Banker.

Partners Group is expanding its footprint in Abu Dhabi, setting up a regional head quarters in the heart of the Gulf’s rising wealth hub as it eyes growing investor demand across the Middle East. The Swiss private equity firm, which has over US$150 billion in assets under management (AUM), has established a new regional headquarters in Abu Dhabi Global Market […]

The post US$150bn private equity firm enters Abu Dhabi to tap gulf wealth appeared first on Asian Private Banker.

In May, Standard Chartered swept up talent in the United Arab Emirates (UAE), joining a growing group of firms vying to capture inflows of private wealth to the Middle East. There were also several notable private banking departures in May. APB broke the news that APAC CIO Stefanie Holtze-Jen was departing Deutsche Bank Private Bank after four years in the […]

The post Movers & Shakers: StanChart eyes UAE wealth rush; high-profile retirements herald new leadership appeared first on Asian Private Banker.

Manulife has opened a new office in the Dubai International Financial Centre (DIFC) dedicated to its global high net worth (HNW) business. The new DIFC office will act as a hub to deliver Manulife’s insurance solutions to HNW and ultra high net worth (UHNW) clients in the region, the firm said in a news release on Tuesday. With this new […]

The post Manulife expands global HNW business to the Middle East appeared first on Asian Private Banker.

EFG has made a senior appointment in Dubai as the Swiss pure play seeks to capture wealth inflows to the region. Based in Dubai, Soha Nashaat has been appointed as EFG Dubai’s new executive chair, effective 1 May 2025, according to a statement from the bank on Tuesday. In this newly created role, Nashaat will focus on driving EFG’s sustainable […]

The post EFG makes senior appointment for Dubai in Middle East wealth push appeared first on Asian Private Banker.

Seviora Group, the Singapore-headquartered asset management group wholly-owned by state investment fund Temasek, has expanded into the Middle East and appointed a senior executive to run the business. The firm, which has about US$54 billion in AUM, said it has hired Sadiq Hussain as senior executive officer to run its new Abu Dhabi office. Seviora hopes to use the expansion […]

The post US$54bn Singapore fund manager joins Middle East gold rush appeared first on Asian Private Banker.

Insurance broker Charles Monat Associates (CMA), which has traditionally focused on clients in Asia, is eyeing further expansion in Dubai as Asian high net worth (HNW) individuals move their wealth to the Middle East. With insurance growing into a key revenue driver for private banks and wealth managers in Asia, Yves Guélat, group CEO of CMA, shared insights into the […]

The post “Dubai now key growth area”: Asia HNW insurance broker eyes Middle East rush appeared first on Asian Private Banker.

Bank of Singapore’s Dubai International Financial Centre (DIFC) branch has appointed six members for its advisory and product solutions in the region. Zeena Abou Elnaja will be joining Bank of Singapore’s investment advisory team as a director, investment advisor, according to a recent company announcement. In her new role, she will seek to strengthen the bank’s advisory capabilities across Gulf […]

The post Bank of Singapore hires six for Dubai advisory appeared first on Asian Private Banker.

ASK Private Wealth, the wealth management arm of Blackstone-backed ASK Asset & Wealth Management Group, has joined the global rush to tap the Middle East by launching an office in the Dubai International Financial Centre (DIFC). Through ASK Wealth Advisor (DIFC), the firm aims to provide non-resident Indians (NRIs) and global investors with access to the Indian market. It will […]

The post Blackstone-backed Indian wealth manager joins Middle East rush with DIFC office appeared first on Asian Private Banker.

Raffles Family Office has appointed a board advisor to support its strategic expansion into the Middle East. Based in Abu Dhabi, Abdullatif Mohamed Kanoo has been appointed as a board advisor to Raffles Family Office, the firm said in a statement on Thursday. In his new role, Kanoo will help support Raffles Family Office’s strategic expansion into the Middle East, […]

The post Raffles Family Office appoints board advisor to support Middle East expansion appeared first on Asian Private Banker.

Swiss pure-play UBP has hired an industry veteran from Santander Private Banking for its Middle East team. Based in Dubai, Antony Avinash Louis joined the bank as market head for the Middle East, effective 18 November, according to a company statement on Thursday. Louis functionally reports to Mohamed Abdellatif, co-head of Middle East and Africa with a local reporting line […]

The post UBP appoints ex-Julius Baer veteran as market head for Middle East appeared first on Asian Private Banker.

Switzerland has long been the premier offshore destination for private banking, thanks to its history of financial secrecy and stability. However, with rapid wealth creation now occurring outside of Europe, jurisdictions like Hong Kong, Singapore, and the United Arab Emirates (UAE) are rising in prominence as global booking centres, offering attractive prospects for banks and investors. “The desire to diversify […]

The post “Anyone can come here and do business”: Dubai forges global booking centre role appeared first on Asian Private Banker.

Singapore-based digital wealth manager StashAway is targeting high net worth individuals (HNWIs) in the United Arab Emirates (UAE) with the expansion of its private markets offering to the region. The offering, StashAway Reserve, which was previously only available in Singapore and Hong Kong, now provides clients in the Middle East and North Africa (MENA) with access to wealth advisory and […]

The post StashAway targets HNWIs in UAE with private market offerings appeared first on Asian Private Banker.

PGIM, a global asset manager with US$1.33 trillion in AUM, is progressing its expansion in the Middle East with a new operating licence and a senior appointment. The firm said in an announcement on Thursday that it has received the Financial Services Permission (FSP) to operate in Abu Dhabi’s international financial centre, Abu Dhabi Global Market (ADGM), and has opened […]

The post PGIM advances Middle East expansion with operating licence and senior hire appeared first on Asian Private Banker.

Saudi Arabia is attracting growing investor interest among emerging markets as the largest economy in the Middle East, backed by a robust oil sector. Once challenged by economic and social reforms, the Kingdom’s progress under Vision 2030 has not only drawn attention from global investors but has also sparked keen interest from North Asian markets. Wang Yi, head of quantitative […]

The post A future beyond oil: Saudi’s Vision 2030 catches eye of Chinese investors appeared first on Asian Private Banker.

The private banking landscape in the Middle East is set to boom, driven by a surge in Asian high net worth individuals (HNWIs) seeking new opportunities, industry leaders in the region told Asian Private Banker. Rajesh Mahadevan, Deutsche Bank’s global head of South Asia and Africa (GSA&A), predicts sustained growth as more Asian HNWIs are drawn to the region, particularly […]

The post UAE set for private banking gold rush on Asian U/HNWI influx appeared first on Asian Private Banker.

The Gulf Cooperation Council (GCC), with the United Arab Emirates (UAE) at the forefront, has seen a significant influx of Asian high net worth individuals (HNWIs) post-pandemic. With this inflow of wealth expected to continue, Middle Eastern independent asset managers (IAMs) highlighted to Asian Private Banker how regional firms are adapting their services to cater to the different cultural and investment […]

The post Middle East IAMs: What advisors should know about Asian HNWIs rushing to the UAE appeared first on Asian Private Banker.

Against a backdrop of a shrinking IPO market in Hong Kong and tightening AML policies for new family offices and IAMs in Singapore, wealth owners in Asia are eyeing the Middle East as an attractive destination for fundraising and booking assets. At the same time, rocketing trade and investment ties, particularly between the United Arab Emirates (UAE) and its leading […]

The post What ballooning China-UAE trade means for private bankers appeared first on Asian Private Banker.

Deutsche Bank Private Bank (Deutsche Bank PB) has made a series of hires in the Middle East to boost its business in a region where its head of private bank, Claudio de Sanctis, hopes to double the assets. The German lender has welcomed new directors to its onshore teams in Saudi Arabia and Dubai, it announced via a LinkedIn post […]

The post Deutsche Bank PB hires from UBS-Credit Suisse to boost Middle East market share appeared first on Asian Private Banker.

UBS Global Wealth Management (GWM), the largest wealth manager in the Middle East following its acquisition of Credit Suisse, has strengthened its team in the region with senior hires. Bassel Al Zaouk has joined UBS GWM in Riyadh as CEO for Saudi Arabia, responsible for building out the domestic wealth management business in the country, the Swiss bank said in […]

The post UBS GWM hires senior bankers from Deutsche Bank and HSBC in Middle East appeared first on Asian Private Banker.

GROW Investment Group (GROW), a Chinese wealth manager, is among the firms looking to tap a Middle East-to-China wealth corridor being pushed by Hong Kong officials who believe the city could be key in linking the two regions. William Ma, GROW’s chief investment officer, told APB that the firm plans to set up an office in the UAE later this […]

The post China’s GROW targets UAE as officials push for closer ties appeared first on Asian Private Banker.

Julius Baer has made two senior hires from UBS and JP Morgan to its global Non-Resident Indians (NRI) team in Dubai, as part of the bank’s growth ambitions in a market that has seen an influx of wealth. Sanjay Advani joined the bank from UBS as team head for global NRI Dubai, the bank said in a statement on Tuesday. […]

The post Julius Baer expands global NRI team in Dubai with UBS, JP Morgan hires appeared first on Asian Private Banker.

PGIM, a global asset manager with US$1.3 trillion in AUM, has made a senior appointment to lead its expansion efforts in the Middle East. The firm has named Mohammed Abdulmalek senior advisor and chairman of PGIM’s Middle East council, according to a statement on Tuesday. The council has been established to evaluate and advise on PGIM’s expansion initiative in the Middle […]

The post PGIM makes foray into Middle East with senior appointment appeared first on Asian Private Banker.

Wealth management is in a very interesting place right now, with the competition among financial centres for the assets and residency of wealthy families, says Deutsche Bank Private Bank’s Marco Pagliara. This rivalry, which extends beyond private banking competition, is giving rise to interesting trends in the family office space, the head of emerging markets noted. In today’s multipolar geopolitical […]

The post Geopolitics meets family offices: Deutsche Bank PB’s Marco Pagliara decodes trends appeared first on Asian Private Banker.

A Dubai royal who announced his intention to establish a US$500 million family office in Hong Kong, only to then delay the launch, has seen parts of his online presence disappear. The Private Office of Sheikh Ali bin Rashid Al Maktoum’s LinkedIn page and that of its chief marketing officer were inaccessible as of Thursday afternoon Hong Kong time. The […]

The post Dubai sheikh behind US$500m HK family office sees parts of internet presence vanish appeared first on Asian Private Banker.

A Dubai royal has postponed the high-profile launch of his US$500 million Hong Kong family office, in a minor setback for the Asian wealth hub’s push to attract Middle East capital. Sheikh Ali bin Rashid Al Maktoum – whose putative family office had been targeting investments in Asia ranging from fintech, to artificial intelligence, to sustainability – had scheduled an […]

The post Bottom Line: Dubai royal delays launch of US$500m HK family office appeared first on Asian Private Banker.

When Marco Pagliara was approached to become the German lender’s emerging market head for private banking last year, he would have been forgiven for having second thoughts. His appointment to the Singapore-based role came after Jin Yee Young, a recent high-profile hire from Credit Suisse as Asia CEO for Deutsche Bank Private Bank, unexpectedly made the switch to UBS Global […]

The post US$200tn opportunity? Deutsche Bank PB’s Pagliara makes emerging markets play appeared first on Asian Private Banker.

The world’s wealthiest individuals – and with them a small army of financial professionals – are flocking to the United Arab Emirates (UAE), dubbed in some quarters as “the bling wealth hub” with the potential to overtake Hong Kong and Singapore in terms of managed assets. According to one estimate, the UAE’s total financial assets could break US$1 trillion by […]

The post The bling wealth hub: Why the world’s wealthy are flocking to the UAE appeared first on Asian Private Banker.

Farro Capital has named a new managing partner in the Middle East to drive its regional expansion. Hussan Rahman has joined the Singapore-based multi-family office as a managing partner, according to an internal memo seen by Asian Private Banker. The appointment adds to Farro’s client servicing capabilities as the firm grows to meet the demands of UHNWIs across the Middle […]

The post Ex-BoS, Barclays banker joins Farro Capital to drive Middle East expansion appeared first on Asian Private Banker.

WRISE Wealth Management (WRISE) has expanded into the Middle East and appointed a former Citi banker as its CEO for the region, the firm said on Tuesday. WRISE Middle East, located in Dubai, will be a subsidiary office dedicated to serving the operational needs of ultra-wealthy families based in the UAE and across the greater Middle East region, the firm […]

The post Derrick Tan’s IAM taps the Middle East with the launch of new office appeared first on Asian Private Banker.

Farro Capital, a Singapore-based multi-family office with over US$1 billion in AUM, is expanding its footprint into the Middle East as it becomes one of the latest wealth firms seeking to tap opportunities in the booming region. The group said on Monday that its Dubai office would provide clients access to solutions spanning investment management, philanthropy advisory, estate planning, family […]

The post Oasis or mirage? Farro Capital becomes latest Asia firm to tap Gulf wealth appeared first on Asian Private Banker.

Any hopes Asian markets had for a quieter, gentler 2024 just got dashed by Moody’s Investors Service. On Nov. 10, the last major credit rating agency to grade Washington AAA signalled a downgrade may be imminent. The risk is rising as the US national debt tops US$33 trillion and political polarisation reaches a fever pitch. And this latest shoe could […]

The post Higher-for-longer may be here to stay, and what that means for client portfolios appeared first on Asian Private Banker.

Tragic events are unfolding in the Middle East amid a bloody war between Israel and Hamas. With the situation still developing and fears that the conflict could escalate to the wider region, here is how private banks and other industry participants believe the events are now having a global impact. Standard Chartered: Hedging geopolitics Amid the conflict, Standard Chartered’s conviction […]

The post What private bankers need to know about the latest Middle East conflict appeared first on Asian Private Banker.

When Grant Parkinson joined Standard Chartered’s priority and private banking business in Europe in 2020, he dedicated the initial 18 months to restructuring and refining the bank’s business approach, with a focus on their target markets. Now, the fruits of his labour are beginning to pay off, he tells Asian Private Banker. During a recent visit to Singapore, the head […]

The post Inside StanChart’s playbook for the wealthy in Africa, Middle East, UK appeared first on Asian Private Banker.

When Gary Dugan left London in 2009 in the wake of the global financial crisis, he did so with a strong belief in the potential of emerging markets. While some investors have turned sour on China or believe the largest opportunities exist in US disruptive tech and artificial intelligence, Dugan, who continues to serve the growing needs of wealthy families […]

The post “Money will come back”: Why calls for Asia ex-China are short-sighted appeared first on Asian Private Banker.

Patrick Tsang has made it his mission to bring more Middle Eastern investors to Hong Kong to show them what the city has to offer. As a single-family office, Tsangs Group might be one of the most well-known family offices in Hong Kong. Patrick Tsang, group chairman, is a 14th-generation family member, and like many old-money Hong Kong families, the […]

The post Patrick Tsang is on a mission to bring the Middle East to Hong Kong appeared first on Asian Private Banker.

AllianceBernstein recently opened an office in Dubai, joining a raft of international finance firms flocking to the Middle Eastern hub. Willem Van Gijzen, head of EMEA Institutions at AllianceBernstein, told Asian Private Banker what is behind the US-based US$704 billion asset manager’s interest in the Middle East. “[We] have a positive view on the region as one of the growth areas. […]

The post Why AllianceBernstein is joining the rush to Dubai appeared first on Asian Private Banker.

Nomura International Wealth Management (IWM) has ambitious plans for developing its new Middle East wealth hub following the recent hiring of six relationship managers from Credit Agricole, Citibank and Bank of Singapore. Ravi Raju, head of IWM at Nomura, told Asian Private Banker what is behind the firm’s interest in building out its business in the region. “We initiated a […]

The post Nomura eyes new Dubai wealth team expansion, and there’s more to come appeared first on Asian Private Banker.

UAE-based Gulf Capital is seeing a noticeable shift in trade patterns between Gulf Cooperation Council (GCC) countries and Asia. Traditionally, trade flows from the GCC region have been directed towards East Asian countries. However, now the US$2.4 billion alternatives investment boutique is witnessing a reverse trend in trade dynamics. Since opening an office in Singapore in December 2021, Gulf Capital […]

The post Gulf Capital CEO: How to capitalise in the world’s fastest-growing region appeared first on Asian Private Banker.

Emirates NBD Private Bank hopes Dubai’s advantage as a safe haven will attract Singaporean clients to book their assets in the Middle East, which has seen an increase in capital flows from Europe amid the war in Ukraine. In this endeavour, the private bank at the end of 2022 appointed a Dubai investment veteran Syed Yahya Sultan as head of […]

The post Emirates NBD Private Bank seeks to build bridge from Dubai to Singapore appeared first on Asian Private Banker.

Bank of Singapore has appointed a former Citi banker as team head for the Middle East and Africa, Asian Private Banker can reveal. Based in Dubai, Deepu Joseph joined Bank of Singapore in early May. In his new role, he will be serving the bank’s key South Asian diaspora client base in the Middle East and Africa. Joseph was most […]

The post Bank of Singapore hires MEA team head from Citi Private Bank appeared first on Asian Private Banker.

November 2016 was a memorable time for Bank of Singapore. The US$124 billion wealth manager completed the acquisition of Barclays’ wealth business in Singapore and Hong Kong, and received regulatory approval to open a branch in the Dubai International Financial Centre (DIFC). The US$320 million deal, which saw Bank of Singapore net US$13 billion in assets and 60 bankers, coincided […]

The post “Our Middle East AUM grew double digits”: Bank of Singapore’s Vikram Malhotra appeared first on Asian Private Banker.

Japanese investment bank Nomura has recruited another 25 private bankers and investment advisors across Hong Kong and Singapore to bulk up its international wealth management (IWM) unit, adding to a slew of appointments it made earlier this year. The bank said it is targeting to grow AUM threefold in the medium term. Ravi Raju, who was hired to lead the […]

The post Nomura IWM hires raft of RMs and ICs, aims to triple AUM in medium term appeared first on Asian Private Banker.

EFG bank has added four customer relationship/support officers to its NRI business in the Middle East and North Africa (MENA), according to an internal announcement by the bank on Monday. Bringing 15 years of experience in investment banking and wealth management, Omar Omari has joined as client relationship officer on the MENA team after a short stint at Standard Chartered’s Middle […]

The post EFG hires four in CRO teams to drive NRI business in MENA appeared first on Asian Private Banker.

Swiss pure play EFG International will open an advisory office in Dubai, expanding its presence in the Middle East as part of its growth strategy. Located in the Dubai International Financial Centre (DIFC), the new EFG office expects to offer enhanced services to the region’s HNWI clients while enjoying exposure to a local market with long-term growth potential. The advisory […]

The post EFG launches Dubai advisory office appeared first on Asian Private Banker.

In an effort to deepen its footprint in the United Arab Emirates, Lombard Odier has announced it will open a new branch in Abu Dhabi. According to the bank, the new branch will cement more than 50 years of commitment to Middle Eastern clients and mark the first of its kind for any Swiss private bank in the city’s financial […]

The post Lombard Odier to launch new Abu Dhabi branch appeared first on Asian Private Banker.

DBS Private Bank has appointed a new head of international as part of its plans to triple its revenue and double its headcount in the Middle East by 2023. Rudiger von Wedel has been named the Singapore lender’s head of international. Based in Dubai, he reports to Lawrence Lua, deputy head of DBS Private Bank. An industry veteran, von Wedel […]

The post DBS PB appoints new head of international appeared first on Asian Private Banker.

Deutsche Bank Wealth Management (WM)’s non-resident Indian (NRI) desk in Dubai was the best performing team in the bank’s Global South Asia (GSA) unit in 2017 by revenue and AUM growth, according to Lok Yim, the private bank’s Asia head. While Deutsche is by no means a newcomer to the NRI circuit, Yim told Asian Private Banker that the decision to add […]

The post Deutsche Bank WM’s Lok Yim: Dubai NRI team “overshot projections” appeared first on Asian Private Banker.

BNP Paribas Wealth Management’s international and NRI client head has vacated his role to oversee the French lender’s Middle East and Africa (MEA) business, Asian Private Banker has learnt. Masroor Batin has relocated from Singapore to Dubai where he has assumed the role of market head for MEA at the private bank. Batin now reports to Hubert Musseau, the French […]

The post BNP Paribas WM’s international and NRI client head vacates role appeared first on Asian Private Banker.

Bank of Singapore’s AUM reached US$95 billion at the end of the third quarter, driven largely by “healthy inflow of fresh funds” which includes a 30% YTD increase in funds managed through discretionary portfolio management (DPM), the Singaporean private bank’s CEO, Bahren Shaari told Asian Private Banker. According to the bank’s latest financial earnings, Bank of Singapore’s AUM increased from US$79 […]

The post 30% YTD increase in DPM assets drives Bank of Singapore’s AUM jump appeared first on Asian Private Banker.

Bank of Singapore has opened the doors to its branch in the Dubai International Financial Centre. The launch signifies Bank of Singapore’s bid to grow in the Middle East, said the bank in a media release. It will be helmed by market head for Middle East, Sub-continent and Africa, Kirit Chauhan, who will oversee 75 employees. The opening ceremony was attended by […]

The post Doors open at Bank of Singapore’s Dubai branch appeared first on Asian Private Banker.

Bank of Singapore (BoS) has been granted a Category 4 licence to operate a branch in Dubai. The private bank said in a joint statement today that the licence will enable it extend to its product offering with a range of “customised private banking solutions, including investments, credit and wealth planning advisory services, to its ultra high and high net worth clients”. […]

The post BoS receives regulatory go-ahead for Dubai operations appeared first on Asian Private Banker.

Crédit Agricole’s global wealth management unit, Indosuez Wealth Management, has appointed a new global head to cover the Middle East region. François R. Farjallah joins the private bank to co-ordinate its Middle Eastern wealth management activities but will be based out of Switzerland. Part of his role will also be to “drive Indosuez’s Middle East business”, according to a statement […]

The post Indosuez WM names global head of Middle East appeared first on Asian Private Banker.

Credit Suisse Private Banking has laid out plans to expand in the Middle East and is expecting a concomitant boost in clients assets, according to media reports. Dubai and Saudi Arabia are the main targets for growth, Iqbal Khan, head of its international wealth management business, said in a televised interview with Bloomberg. Khan, who also oversees Credit Suisse’s wealth […]

The post Credit Suisse PB targets Middle East appeared first on Asian Private Banker.

J.P. Morgan Private Bank has appointed a former investment banking head to lead its Middle East operations. In an internal appointment, Tara Smyth has moved across to the American lender’s private bank from its investment banking arm to oversee the firm’s Middle East wealth management operations and to direct its growth strategy for the market. She succeeds Jonathan Conner, and will […]

The post J.P. Morgan Private Bank names Middle East head appeared first on Asian Private Banker.

A former Standard Chartered regional head has resurfaced as the head of private banking at a UAE-headquartered institution, Asian Private Banker can reveal. Rajesh Malkani, erstwhile regional head, private banking clients, MENAP, Africa and South Asia at Standard Chartered, has joined Mashreq Bank as its head of private banking and wealth management, based in Dubai. A veteran of the private […]

The post Ex-Standard Chartered veteran joins Middle Eastern Bank as PB head appeared first on Asian Private Banker.

In February this year, EFG announced that it will acquire private bank BSI from BTG Pactual for US$1.34 billion. The deal should catapult EFG into the big leagues by making it one of Switzerland’s largest private banks with around CHF170 billion (US$176 billion) in assets under management (AUM). It should also bring scale to EFG’s Asia business, according to the […]

The post Straight Talk: Albert Chiu, chief executive, Asia Pacific, EFG Bank appeared first on Asian Private Banker.

Facing growing demand from Middle Eastern high net worth individuals for legal services, Withers has hired an ex-Ernst & Young (EY) tax specialist, Stijn Janssen, to head its newly opened tax office in Dubai. Janssen, who will be based in the Dubai International Financial Centre (DIFC), was most recently the MENA head of private client services at EY, and has […]

The post Withers opens Dubai practice targeting Middle Eastern HNWIs appeared first on Asian Private Banker.

The increasingly labyrinthine probe into Malaysian wealth fund, 1Malaysia Development Bhd (1MDB), has taken a new twist, with RBS’ Coutts becoming the latest private bank to linked to the investigation. Financial watchdog Swiss Financial Market Supervisory Authority, also known as Finma, is opening a probe into the lender, according to a statement released by the Swiss-based arm of RBS’ private bank. It added […]

The post Coutts latest PB to be linked to 1MDB probe appeared first on Asian Private Banker.

This month, we take a look at some of the private banking activities in the Middle East, home to US$2.1 trillion in high net worth wealth. (This article first appeared in Issue 97 of Asian Private Banker’s monthly print magazine, published in the first week of March 2016.) As second-generation business owners grow increasingly concerned with the challenges of balancing the need for capital […]

The post Eye On: The Middle East appeared first on Asian Private Banker.

Citichamp Watch & Jewellery Group has agreed to buy the unit from embattled Switzerland-based Valartis Group for CHF77.7 million (US$80.5 million), as it bids to expand into the financial sector. The deal, subject to approval and targeted to close in the second quarter, will help in Valartis’ efforts to avoid bankruptcy, the group said earlier this week. Valartis had earlier sold another […]

The post Listed HK group buys Liechtenstein private bank appeared first on Asian Private Banker.

Bank of Singapore (BOS) has relocated a non-resident Indian (NRI) specialist desk to Dubai as it seeks to boost its Middle East footprint. Nikhil Advani moves from Singapore to Dubai to take on a new role as a senior relationship manager with the mega-wealth team in the United Arab Emirates. He now reports to Kirit Chauhan, market head of Middle East, BOS. […]

The post Senior NRI banker boosts BOS Dubai appeared first on Asian Private Banker.

After more than five years at the Swiss private bank, a former Union Bancaire Privée (UBP) banker has resurfaced at an external asset manager (EAM) firm in Singapore. Nadia Bathiche has joined Luman Capital Advisors as a partner and senior advisor, based in Singapore. The EAM, which was originally set up in 2010 by industry veteran and former CEO of […]

The post Former UBP banker resurfaces at EAM appeared first on Asian Private Banker.

More than any other region, millennial entrepreneurs in Asia are growing bigger businesses than previous generations, a HSBC Private Bank survey has found. A “significant” portion of over 50% of surveyed respondents added that making a positive community impact was a key factor in their wanting to do business. These findings are part of an international online survey conducted by […]

The post Young Asian entrepreneurs building bigger businesses, social impact appeared first on Asian Private Banker.

Following the performance of its private banking counterparts in Asia, Bank J. Safra Sarasin reports that its assets under management (AUM) was marginally higher, year-on-year. The Swiss bank’s AUM for Asia sat at US$15.3 billion, a slight rise from its US$15 billion in 2014. Overall headcount for the private bank which includes its relationship managers in the region stood at […]

The post Bank J. Safra Sarasin Asia AUM slightly up in 2015 appeared first on Asian Private Banker.

The Swiss private bank and its Dubai subsidiary have lost an appeal to the Court of the Dubai International Financial Centre (DIFC). This comes after they were found liable for misselling investments to a wealthy Kuwaiti family, and ordered to pay more than US$70 million in damages. This was the first time that the court has awarded US-style punitive damages […]

The post J. Safra Sarasin loses appeal in biggest GCC financial misselling case appeared first on Asian Private Banker.

The private banking arm of Singapore lender OCBC  has appointed a former Coutts UHNW banker to the role. Zubin Dabu joins Bank of Singapore two months after this publication first reported his departure from Coutts, and is understood to report to Derrick Tan, the bank’s global market head for Malaysia, Brunei, Japan, Sub-Continent and Middle East. Dabu joined this week […]

The post Bank of Singapore appoints NRI market head appeared first on Asian Private Banker.

Falcon Private Wealth Dubai has received final licence approval to offer customised financial solutions in Dubai and operate from the Dubai International Financial Centre (DIFC), the latest in a series of banks boosting their Middle East businesses. The United Arab Emirates unit of Swiss private bank Falcon has been granted a 3c licence from the Dubai Financial Services Authority (DFSA), it […]

The post Falcon gets licence in Dubai appeared first on Asian Private Banker.

Entrepreneurs under the age of 35 are more focused in making “positive impact” in the world than their last generation, and are more hands-on in their approach to wealth management (WM) and philanthropy, HSBC Private Bank says. In a report, the UK lender notes that entrepreneurs of this age group are more focused in generating “maximum impact” to their communities; […]

The post WM needs to catch up with millennial appetite for philanthropy appeared first on Asian Private Banker.

Following a town hall meeting in Asia with staff of both Coutts and Union Bancaire Privée (UBP), Michel Longhini, UBP executive managing director, private banking, gives Asian Private Banker an update of ongoing developments of the integration. “Clearly, the teams are being reinforced by some of our people but as you know, UBP in the region has had a limited set […]

The post More than 90% of UBP Asia staff to be imported from Coutts appeared first on Asian Private Banker.

This compares to a growth of 78% and 95% for Hong Kong and Singapore respectively between 2005 and 2015, notes Knight Frank wealth research. However, these numbers dropped in 2015 year on year, reflecting a global trend whereby just 34 of 91 countries surveyed saw a rise in ultra high net worth individuals (UHNWIs). “The global population of ultra-high-net worth […]

The post UHNWIs in HK, Sing to rise by over 40% in 10 years appeared first on Asian Private Banker.

While private banks rush to set up shop in the Middle East to capture the growing wealth in the region, one wealth management outfit has decided to close its office in Qatar. The announcement from Guardian Wealth Management (GWM) comes shortly after the financial advisory company gained a broker licence with the region’s Insurance Authority a month ago, having waited […]

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Despite ongoing talks about the sale of its Asia private banking arm, the UK lender has named a new head of wealth and investment management for Singapore. Andrew Tailby-Faulkes is the new head of the division, based in Singapore. His promotion comes shortly after the departure for Didier von Daeniken, who used to lead Barclays’ private banking business for Asia […]

The post Barclays names new head of wealth and investment management appeared first on Asian Private Banker.

In a bid to tap a growing base of high net worth individuals domiciled in the United Arab Emirates (UAE), Abu Dhabi Commercial Bank (ADCB) is launching a new private banking division. Under the branding “ADCB Private”, the bank will introduce a tailored offering to clients with assets over US$1 million, to meet their complex and increasingly sophisticated requirements. In […]

The post New private bank launched in UAE appeared first on Asian Private Banker.

J.P. Morgan Private Bank has named a new head of equities to cover the Europe, Middle East and Africa (EMEA) regions. Diana Robinson replaces Leondro Vetri, who has reportedly left the bank. Robinson will be based in London. “Diana’s deep background in equities, combined with her client-focused mindset, is sure to be a great asset for our clients in EMEA,” […]

The post J.P. Morgan Private Bank names head of equities for EMEA appeared first on Asian Private Banker.

As oil prices may be bottoming out, smart solutions are available that “can be tailored to express and capture such particular market views”, says the head of investment services in Asia for BNP Paribas Wealth Management (WM). Oil prices have been on the slide since 2014, with Brent, in particular, at its 13-year low, Arnaud Tellier tells Asian Private Banker, […]

The post Volatile oil market calls for yields enhanced products, says BNP Paribas WM appeared first on Asian Private Banker.

Crédit Agricole Private Banking has rebranded itself as Indosuez Wealth Management (WM) as part of the reorganisation, as it seeks to grow its €110 billion (US$120 billion) worth of global assets under management (AUM), its head of wealth management for Switzerland, the Middle East and Asia tells Asian Private Banker. The single brand reflects Indosuez Wealth Management’s international reorganisation, the bank notes in […]

The post Indosuez WM reorganises worldwide, holds €10 billion of global AUM in Asia appeared first on Asian Private Banker.

A former UBS manager has moved to Bank of Singapore (BOS) to cover ASEAN growth markets including Thailand and Indochina. Stephan Lickert is the new team head of Bank of Singapore’s Thailand and Indochina team. He will be based in Singapore as he looks to expand his team and tap into the growth markets in ASEAN. When contacted, a spokesperson […]

The post BOS names Thailand/Indochina team leader appeared first on Asian Private Banker.

This comes as “bulge bracket families” in the region reconsider their global markets portfolios, says Citigroup’s private banking head in the Middle East (ME) and North Africa. The ME business saw assets under management (AUM) grow in the mid-20% range in 2015, and this may be repeated this year, Anthony Habis told media in Dubai yesterday. “We’ve seen a serious shift […]

The post Citi Private Bank aims to grow ME business by over 20% in 2016 appeared first on Asian Private Banker.

ABN AMRO Private Bank (PB) Asia & Middle East (ME) has hired a new chief commercial officer to oversee a number of areas for the region. Gracelyn Ho joins the Dutch lender from Australia and New Zealand Banking Group (ANZ), where she was head of wealth solutions Asia. At ABN AMRO, her responsibilities will include strategy, business development, commercial development […]

The post ABN AMRO PB hires new senior staffer for Asia, ME appeared first on Asian Private Banker.

The Middle Eastern bank has promoted a veteran staff to the executive vice president role of head of global private banking, overseeing high net worth clients with financial assets over US$1 million. Saod Obaidalla, the bank said, has been at Emirates NBD for over two decades in various senior roles across retail and wholesale banking. He replaces Michael Chahine, who will […]

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Standard Chartered (StanChart) has made three new Singapore-based appointments for its Asian private banking operations, the bank said in a statement, as the wealth management unit continues with changes at the top. Stephen Richards Evans is appointed market head, Indonesia, effective immediately, in addition to his role as global head of the bank’s UHNW Proposition. He has been leading this business since […]

The post StanChart Private Bank reshuffles senior management appeared first on Asian Private Banker.

Just a month after Barclays’ former Asia head of its wealth management business left, the bank’s head of South and Southeast Asia has also decided to leave to pursue external opportunities, Asian Private Banker has learnt. Srinivas Siripurapu joined Barclays in 2010 from UBS, where he was the latter’s country team head for India international Asia. Vikram Malhotra is understood to […]

The post Barclays South/Southeast Asia wealth head exits, reporting lines change appeared first on Asian Private Banker.