New CEO for Swiss private bank Union Bancaire Privée’s Dubai-based subsidiary

New CEO for Swiss private bank Union Bancaire Privée’s Dubai-based subsidiary

Swiss private bank Union Bancaire Privee (UBP SA) has appointed Mohamed Shoukry as its new CEO of Dubai-based subsidiary UBP Middle East.

The appointment is subject to regulatory approval. Shoukry, who has previously held senior roles at Citi, Mashreq Bank and National Bank of Abu Dhabi, now FAB, and JP Morgan, succeeds Mohamed Hamed Abdellatif who has held the role since 2015, at the bank in Dubai International Financial Centre (DIFC)

Abdellatif will become co-head of the Middle East and Africa (MEA) region with Walid Shash, UBP said in a statement.

The leadership change is in response to strong inflow of ultra-high net worth individual (UHNWI) clients as well as institutional clients and family office into the region in recent years, the statement said.

UBP currently manages more than $12 billion in wealth for its Middle Eastern clients, $4.5 billion out of Dubai.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

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