Union Bancaire Privée strengthens Middle East governance team to deliver on growth plans

DUBAI, UNITED ARAB EMIRATES, January 18, 2024 /EINPresswire.com/ -- Union Bancaire Privée, UBP SA (“UBP”), a Switzerland-headquartered private bank, is pleased to announce the appointment of Mohamed Shoukry as the new CEO of UBP Middle East, its Dubai-based subsidiary, effective from 1 January 2024, subject to regulatory approval.

With more than two decades of experience in the field, Mohamed Shoukry is a seasoned banker with an exceptional track record across several organisations in the Middle East and North Africa. Prior to joining UBP, he held senior roles at Citi, Mashreq Bank, National Bank of Abu Dhabi and most recently at J.P. Morgan as Head of Multinational Coverage for CEEMEA.

In his new capacity, Mohamed Shoukry succeeds Mohamed Hamed Abdellatif, who joined the Bank in 2012 and has served as the CEO of UBP Middle East since 2015. From 1 January 2024, Mohamed Abdellatif will be assuming the role of Co-Head of the Middle East and Africa (MEA) region, alongside Walid Shash, who has been driving UBP’s MEA strategy since 2005.

This strategic leadership change comes in response to the rapid growth UBP has been experiencing in the Middle East, reflected by the strong inflows from UHWNIs, institutional clients and family offices in the last few years. These new appointments also demonstrate UBP’s commitment to the region where UBP currently manages over USD 12 billion in wealth for its Middle Eastern clients, of which USD 4.5 billion is managed out of Dubai.

Commenting on the leadership change, Nadège Lesueur-Pène, UBP’s Head of Wealth Management Developing Markets, stated: “We are delighted to welcome Mohamed Shoukry to the team and to see Mohamed Abdellatif transition to a Global MEA leadership role. Mohamed Shoukry and Mohamed Abdellatif’s extensive experience and strong grasp of the region make them the ideal leaders to steer UBP through its next phase of development and maintain its double-digit growth in the region in the coming years.”

Mohamed Shoukry added: “I am honoured to follow in Mohamed Abdellatif’s footsteps. The Middle East holds immense potential and I am confident that UBP, thanks to its family-owned structure, its very agile business model and the depth of its expertise and knowledge of the region, is ideally positioned to seize the numerous opportunities ahead.”

UBP has been serving the Middle East for more than 20 years and has been present in the region since 2012. Its commitment to the Middle East is reflected through its Dubai office – located in the DIFC and regulated by the Dubai Financial Services Authority (DFSA) – which has a team of over 40 professionals, including relationship managers and investment advisors.

For any further information, please contact:

Bernard Schuster
Group Head of Communications (spokesman)
+41 58 819 24 70
bernard.schuster@ubp.ch

Audrey Berladyn
Head of Media Relations, EMEA
+41 58 819 26 44
audrey.berladyn@ubp.ch

About Union Bancaire Privée (UBP) – www.ubp.com
UBP is one of Switzerland’s leading private banks, and is amongst the best-capitalised, with a Tier 1 ratio of 27.3%. The Bank is specialised in the field of wealth management for both private and institutional clients. It is based in Geneva and employs 2,008 people in over twenty locations worldwide, and holds CHF 140.6 billion in assets under management (all figures as at 30 June 2023).

Yasmine Abdelkhalek
FTI Consulting
UBP_MENA@fticonsulting.com