Arab Bank Switzerland has officially inaugurated a regulated wealth management entity, ABS (Middle East) Limited, within the Dubai International Financial Centre (DIFC). This strategic move aims to enhance the bank's regional presence, specifically targeting entrepreneurs, family offices, and high-net-worth individuals throughout the UAE and surrounding areas. The Geneva-based private banking group has appointed Samir Atitallah as CEO of the new entity, who will leverage the institution's renowned Swiss private banking services alongside its established Middle Eastern client network. Joining Atitallah is Michel Sarfati, who will lead the family offices segment, bringing valuable experience from his previous role at First Abu Dhabi Bank.
The establishment of this Dubai-based firm is part of a comprehensive growth strategy for the ABS Group, which currently manages nearly US$25 billion in assets. The group offers a diverse range of services, including wealth management, corporate and trade finance, and digital asset solutions. Arif Amiri, CEO of the DIFC Authority, highlighted the significance of the firm’s Swiss banking heritage and regional connections, which contribute to the expanding wealth and asset management ecosystem in Dubai. Atitallah expressed his vision for the firm, aiming to create a unique wealth management service that merges the rigor of Swiss banking with a profound understanding of the evolving investor landscape in the Middle East.
This expansion follows the group's acquisition of the Swiss private bank Gonet in 2022, further enhancing its capabilities in both traditional and digital financial services, and positioning it strategically within the competitive wealth management sector in the region.
The establishment of this Dubai-based firm is part of a comprehensive growth strategy for the ABS Group, which currently manages nearly US$25 billion in assets. The group offers a diverse range of services, including wealth management, corporate and trade finance, and digital asset solutions. Arif Amiri, CEO of the DIFC Authority, highlighted the significance of the firm’s Swiss banking heritage and regional connections, which contribute to the expanding wealth and asset management ecosystem in Dubai. Atitallah expressed his vision for the firm, aiming to create a unique wealth management service that merges the rigor of Swiss banking with a profound understanding of the evolving investor landscape in the Middle East.
This expansion follows the group's acquisition of the Swiss private bank Gonet in 2022, further enhancing its capabilities in both traditional and digital financial services, and positioning it strategically within the competitive wealth management sector in the region.
Source: Fintech News ME
